t is hard to make a billion dollars. It is also hard to give it away sensibly. “I would as soon leave my son a curse as the almighty dollar,” wrote Andrew Carnegie, a plutocrat-turned-philanthropist, in 1889. Nor was he fond of “indiscriminate charity”, such as handouts for beggars. “It were better for mankind that the millions of the rich were thrown in to the sea than so spent as to encourage the slothful, the drunken, the unworthy.”
Over a century later, a new generation of philanthropists are wrestling with the same issue. Tech founders dominate the list of the world’s wealthiest people (Forbes, which maintains one such list, puts 12 tech moguls among the world’s top 25).
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