billionaire philanthropy

A single mother stops at a traffic light and hands five dollars to a homeless person. Jeff Bezos pledges $10 billion to fight climate change. Bezos will accomplish far more with his gift. Yet the mother may have given up something she needed.

That distinction sits at the heart of my latest essay. The world’s richest people possess more money than they could spend across several lifetimes. Their fortunes keep growing while the planet warms, public institutions weaken, and millions struggle to survive. Their philanthropy does useful work, though it rarely costs them any comfort or power.

So what is all the remaining money for? The answer takes us through the Gilded Age, the widow’s offering, other religious traditions, private bunkers, life extension, and the strange belief that enough wealth can free someone from the fate shared by every human being.