In the first decade of the twenty-first century a new wave of
thinking has emerged from tech billionaires that may shape the way
private capital gets invested to tackle social problems. These
entrepreneurs broke the business mold in the 1980s and 1990s and
are now trying to break the traditional pattern of philanthropy
pioneered by Andrew Carnegie and John D. Rockefeller, Sr. some one
hundred years ago. Combining billions of dollars of their personal
capital with new ideas, cutting-edge businesslike techniques, media
and marketing savvy, the tech benefactors profiled in this book are
attacking some of the globe's most intractable societal problems.
In trying to make a difference in the world, these new
philanthropists, dubbed "philanthrocapitalists" by rhe author seek
to break down traditional barriers dividing business, charity, and
government. As a result of the rapid wealth creation in recent
years, the world now boasts 1,125 billionaires, many of whom are
self-made, according to the Forbes' 2008 list, including Bill
Gates, Pierre Omidyar, Jeffrey Skoll, Stepehn Case, Sergey Brin,
Larry Page, and more. Their massive wealth has created new
philanthropic challenges. Imaginative giving by the new
billionaires is beginning to transform philanthropy in terms of
timing, involvement, strategy, and tactics. How this development
impacts society as a whole is the subject of Lewis Solomon's book.
As the author notes, the traditional categories of business and
philanthropy may no longer serve to meet the challenge of social
problems. In the twenty-first century the tools and resources used
to solve societal problems will be far more varied and mixed than
previously. We now see interesting partnerships and new ways of
thinking. The divide between profit and social good will narrow. If
successful in using their money in innovative ways, government or
for-profit business could scale up the catalytic efforts of the new
philanthropists. This volume is a proactive, innovative guide to a
new era, not just a new technique of monetary support.
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