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In this episode we take a look at the recent announcement by Bill Gates that he now plans to give away 99% of his wealth and spend down his foundation over the next 20 years. Including:
- Should we be excited about this news?
- Why has the announcement been made now? Should it be seen in part as a response to the Trump administration?
- Do the sums stack up? Can we square what has been said so far about the total amounts that will be given away with the projected annual spending rates?
- Is the Gates Foundation going to look beyond grantmaking in order to spend out? i.e. by transferring its endowment to other orgs, or by using endowment assets to make impact investments?
- Is this more evidence that norms around perpetuity in foundation philanthropy are shifting?
- Will it be necessary to shift away from “strategic” philanthropy in order to give money away at the required rate?
- Will Gates’s decision prompt other wealthy people to commit to giving more money more quickly?
- Gates has framed his goals in terms of “solving” a number of major societal problems, but does this set unrealistic expectations of what philanthropy can achieve?
- Is there a risk that the increased pace of Gates' giving could exacerbate concerns about the distorting effect that his philanthropy can have in some of the countries where the foundation operates?
- Why did a norm of perpetuity for foundations become established in the first place?
- What are some of the key criticisms that have been levelled at perpetual endowments?
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