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CharitiesWhy do billionaires donate to charity and where does their money go?

Why do billionaires donate to charity and where does their money go?

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Gaston de Persigny
Gaston de Persigny
Gaston de Persigny - Reporter at The European Times News

Dividing into two of the richest couples in the world – the former Bezoc family and the Gates family, isolates the prospects and generously gives them gifts. The upcoming company of Bill and Melinda Gates could stop the work of their foundation at a cost of 50 billion dollars, despite the fact that the two of them are happy.

After the divorce in 2019, Mackenzie will sell almost 6 billion dollars for hundreds of charity groups, while the former team and Jeff Bezos will pay 10 billion for the Fund. And yet the enormous wealth of Bezos continues to pay, fulfilling the gifts they do.

Not only the well-known philanthropists, but also the relatively “new billionaires” are already giving amazing stories. One of the creators of the cryptocurrency Ethereum gives the so-called. There are about 1 billion dollars worth of donations to the Pandemic Fund in India. In 2019, the donations of individuals amount to 309.6 billion dollars.

Meanwhile, the gap between the rich and the poor has deepened dramatically during the Covid-19 pandemic, which has opened a debate over the field.

The most common practice among the rich is to give money to their own foundations and then to distribute them. In 2019, Indian technology millionaire Azim Πpemji is committed to transferring about 7.5 billion dollars in shares to the company and its foundation. Last year, Nike Phil Height’s co-founder poured $ 900 million into his own foundation. Some people choose to use the so-called funds, which allow them to receive unforgettable tax relief, because of the tax. One of the main criticisms of the militia is that under the US legislation, the tax authorities are exempt from taxes. Some claim that gates like Gates deprive the state of tax revenues.

What is certain is that the millennials will continue to try to carry out their petition through charitable deeds.

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