When Is It Not Good to Give? the Shades of Grey of Philanthropy; Welsh Venture Capitalist-Turned-Philanthropist Michael Moritz Plans to Give Pounds 75m to Help Students from Disadvantaged Backgrounds Get into Oxford University. but Here Darren Devine Looks at How Philanthropists, from 19th-Century US Industrialists like John Davidson Rockefeller to Today's Greatest Givers like Bill Gates, Have Been Dogged by Controversy

Western Mail (Cardiff, Wales), July 13, 2012 | Go to article overview

When Is It Not Good to Give? the Shades of Grey of Philanthropy; Welsh Venture Capitalist-Turned-Philanthropist Michael Moritz Plans to Give Pounds 75m to Help Students from Disadvantaged Backgrounds Get into Oxford University. but Here Darren Devine Looks at How Philanthropists, from 19th-Century US Industrialists like John Davidson Rockefeller to Today's Greatest Givers like Bill Gates, Have Been Dogged by Controversy


Byline: Darren Devine

* N 2007 Microsoft billionaire Bill Gates told an audience of Harvard University students that "reducing inequity is the highest human achievement".

Venture capitalist Michael Moritz this week made his contribution to Gates' goal of "reducing inequity" with a pledge of pounds 75m to help Oxford University attract more students from poor backgrounds.

Mr Moritz's donation has been described by the university as "the biggest philanthropic gift for undergraduate financial support in European history".

The former Cardiff comprehensive pupil follows a long line of self-made men who for centuries have decided to give away some or all of the fortunes they've spent their lives amassing.

Gates has pledged his entire pounds 34bn fortune to charity and Albert Gubay, who founded the North Wales-based Kwik Save supermarket chain, last year announced his near pounds 1bn fortune would go to a charitable trust.

Further back, 19th-century philanthropic pioneers like Newtown-born Robert Owen shortened working hours, provided free medical care for staff, and set up a school for factory children in his New Lanark cotton Mill, in Scotland.

Now philanthropic "charitable business" the Community Foundation in Wales helps individual and corporate donors here find causes where their money can have the maximum benefit.

Up to pounds 1.7m in donors' money was last year given to charities supporting teenage carers, providing free music lessons for children in Cardiff and helping youngsters with issues such as alcohol, drugs and bullying.

Chief executive Liza Kellet said: "We're a business because we sell people (packages) helping to manage their philanthropy.

"People set up a fund with us or we run their programmes for them and we distribute grants."

But the history of philanthropy is far more complex than a series of big hearted billionaires having Scrooge-like epiphanies that leave them handing out cash to all and sundry.

While Owen's work in the 19th century was lauded for its forward-thinking humanity, his philanthropic counterparts in the US, like John Davidson Rockefeller and Andrew Carnegie, were regarded with far more suspicion.

The charitable trusts they set up to earn money for good causes were criticised as undemocratically concentrating vast wealth in the hands of a few trustees.

Oil and steel magnates Rockefeller and Carnegie were labelled "robber barons" by those who believed they made their wealth by paying workers peanuts to keep the price of their products artificially low.

When competition was driven out of the market their prices would allegedly be driven up well in excess of what they were originally.

In the early 20th century the US Congress set up a federal commission to look into concerns private charitable foundations posed a threat to the nation's future.

A Colorado coal miner complained to the commission that his employer Rockefeller wanted to give $250,000 to a retreat for migratory birds through his foundation. …

The rest of this article is only available to active members of Questia

Already a member? Log in now.

Notes for this article

Add a new note
If you are trying to select text to create highlights or citations, remember that you must now click or tap on the first word, and then click or tap on the last word.
One moment ...
Default project is now your active project.
Project items

Items saved from this article

This article has been saved
Highlights (0)
Some of your highlights are legacy items.

Highlights saved before July 30, 2012 will not be displayed on their respective source pages.

You can easily re-create the highlights by opening the book page or article, selecting the text, and clicking “Highlight.”

Citations (0)
Some of your citations are legacy items.

Any citation created before July 30, 2012 will labeled as a “Cited page.” New citations will be saved as cited passages, pages or articles.

We also added the ability to view new citations from your projects or the book or article where you created them.

Notes (0)
Bookmarks (0)

You have no saved items from this article

Project items include:
  • Saved book/article
  • Highlights
  • Quotes/citations
  • Notes
  • Bookmarks
Notes
Cite this article

Cited article

Style
Citations are available only to our active members.
Buy instant access to cite pages or passages in MLA, APA and Chicago citation styles.

(Einhorn, 1992, p. 25)

(Einhorn 25)

1. Lois J. Einhorn, Abraham Lincoln, the Orator: Penetrating the Lincoln Legend (Westport, CT: Greenwood Press, 1992), 25, http://www.questia.com/read/27419298.

Cited article

When Is It Not Good to Give? the Shades of Grey of Philanthropy; Welsh Venture Capitalist-Turned-Philanthropist Michael Moritz Plans to Give Pounds 75m to Help Students from Disadvantaged Backgrounds Get into Oxford University. but Here Darren Devine Looks at How Philanthropists, from 19th-Century US Industrialists like John Davidson Rockefeller to Today's Greatest Givers like Bill Gates, Have Been Dogged by Controversy
Settings

Settings

Typeface
Text size Smaller Larger Reset View mode
Search within

Search within this article

Look up

Look up a word

  • Dictionary
  • Thesaurus
Please submit a word or phrase above.
Print this page

Print this page

Why can't I print more than one page at a time?

Help
Full screen

matching results for page

    Questia reader help

    How to highlight and cite specific passages

    1. Click or tap the first word you want to select.
    2. Click or tap the last word you want to select, and you’ll see everything in between get selected.
    3. You’ll then get a menu of options like creating a highlight or a citation from that passage of text.

    OK, got it!

    Cited passage

    Style
    Citations are available only to our active members.
    Buy instant access to cite pages or passages in MLA, APA and Chicago citation styles.

    "Portraying himself as an honest, ordinary person helped Lincoln identify with his audiences." (Einhorn, 1992, p. 25).

    "Portraying himself as an honest, ordinary person helped Lincoln identify with his audiences." (Einhorn 25)

    "Portraying himself as an honest, ordinary person helped Lincoln identify with his audiences."1

    1. Lois J. Einhorn, Abraham Lincoln, the Orator: Penetrating the Lincoln Legend (Westport, CT: Greenwood Press, 1992), 25, http://www.questia.com/read/27419298.

    Cited passage

    Thanks for trying Questia!

    Please continue trying out our research tools, but please note, full functionality is available only to our active members.

    Your work will be lost once you leave this Web page.

    Buy instant access to save your work.

    Already a member? Log in now.

    Author Advanced search

    Oops!

    An unknown error has occurred. Please click the button below to reload the page. If the problem persists, please try again in a little while.