As the pandemic sweeps the world, billionaires are making remarkable donations - $100m from Amazon’s Jeff Bezos for food banks, billions from Bill Gates for a coronavirus vaccine, thousands of ventilators and N95 masks from Elon Musk, $25m from the Walton family and its Walmart foundation.
In theory, big philanthropy sounds great, but on a closer look, it seems to be self-serving.
One of the most significant benefits of publicized philanthropy is reputation cleansing. It distracts the public from how several of these billionaires are endangering their workers and consumers.
For example, Amazon is on a hiring binge with the increase in online sales, but it still does not provide sick leave for workers unless they test positive for COVID-19, in which case they get just two weeks. Elon Musk defied orders and kept factories open in Fermont, California, claiming that factory work is essential.
Big philanthropy is also widening the gap between the haves and have-nots. It is estimated that no more than 8% of the donations actually go to the neediest population-namely the poor, people of color, women and children at risk, and the disabled.
While it is great to see the rich help the world, is it worth all that we give up by letting them be so rich?
Anushree Appandairajan
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