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Philanthropy

All articles tagged with #philanthropy

Ultra‑wealthy donors rally to fund Trump Accounts for kids
business4 days ago

Ultra‑wealthy donors rally to fund Trump Accounts for kids

The Trump Accounts program launched on July 4 with rules allowing up to $5,000 per child per year from parents (plus $2,500 from employers) and a $1,000 government seed for births 2025–2028; withdrawals begin at age 18. High‑profile donors—Michael and Susan Dell, Ray and Barbara Dalio, Brad Gerstner, Harold Hamm, Nicki Minaj, and Gwynne Shotwell—are pledging substantial contributions, often by ‘adopting’ states and targeting low‑income ZIP codes. SpaceX’s Gwynne Shotwell announced stock donations for more than 2 million children, and Elon Musk’s contribution has not yet been disclosed. The aim is to foster financial literacy and wealth-building for the next generation.

via Business Insider|
#business#education-savings-account#philanthropy
SpaceX President Donates $320 Million in Stock to Trump Accounts for Kids
business4 days ago

SpaceX President Donates $320 Million in Stock to Trump Accounts for Kids

SpaceX president Gwynne Shotwell will donate about $320 million worth of SpaceX Class A stock to Trump Accounts serving more than 2 million children, largely in Texas; the gift equals roughly one-fifth of her SpaceX stake, and how the transfers will work is still unclear; Trump Accounts invest in index-tracking ETFs and SpaceX is set to join the Nasdaq-100 this week, with millions already enrolled.

via Semafor|
#business#gwynne-shotwell#philanthropy
NYC Millionaire Advocates Higher Taxes—and a City He Loves
economy6 days ago

NYC Millionaire Advocates Higher Taxes—and a City He Loves

Business Insider profiles Andrew Tobias, a New York City millionaire and Patriotic Millionaires member who says he would happily pay more in taxes for the city he believes should be supported, tracing his fortune from publishing and real estate to a Miami stint to dodge city taxes before returning to NYC, and detailing his charitable giving (BuildOn, Success Academy, Amazon Conservation Team) amid ongoing debates over tax policy and Mamdani’s plans to raise levies on the ultra-wealthy.

via Business Insider|
#cost-of-living#economy#new-york-city
Treasury to accept public stock gifts for new children’s investment accounts
economy8 days ago

Treasury to accept public stock gifts for new children’s investment accounts

Treasury officials announced that companies, nonprofits and state/local governments can donate public stock to the new child-investment accounts, with seed funding of up to $1,000 for about 1.4 million accounts (born 2025–2028) and more than 6 million accounts available; stock donations go to the Treasury to be allocated per donor instructions, while cash contributions will be invested in the SPYM ETF.

via The Washington Post|
#economy#finance#government-programs
Swift and Kelce Give $26M to Charities as Wedding Nears
entertainment8 days ago

Swift and Kelce Give $26M to Charities as Wedding Nears

Taylor Swift and Travis Kelce donated a combined $26 million to 20 charities across New York, Rhode Island, Kansas City and national organizations ahead of their wedding at Madison Square Garden, with recipients including food banks, youth programs and hospitals; the exact amounts per charity were not disclosed, and the gifts drew gratitude from beneficiaries as the couple’s wedding approaches.

via Business Insider|
#charity#entertainment#kelce
Swift and Kelce pledge $26M to charities ahead of rumored Madison Square Garden wedding
entertainment8 days ago

Swift and Kelce pledge $26M to charities ahead of rumored Madison Square Garden wedding

Taylor Swift and Travis Kelce announced a $26 million donation to 20 U.S. charities across locations including New York, Kansas City, and Nashville, ahead of their rumored Madison Square Garden wedding this weekend. The donation aligns with Swift’s philanthropic pattern and comes amid reports of a pre-wedding event at MSG, drawing fan speculation over the symbolic amount and star-studded gathering.

via The Guardian|
#charity#entertainment#philanthropy
Musk Takes Aim at Mackenzie Scott’s Mega Donations
politics11 days ago

Musk Takes Aim at Mackenzie Scott’s Mega Donations

Elon Musk criticized MacKenzie Scott’s roughly $26 billion in charitable donations, saying they harm society and replying 'Sadly yes' to a post on X. The jab follows a history of similar comments; Scott, Jeff Bezos’ ex-wife, has given about $26.2 billion through Yield Giving to around 2,700 nonprofits using a quiet research approach, with a major share of gifts in 2023.

via Yahoo|
#controversy#donations#elon-musk
Next-gen heirs push billionaires to give now, reshaping philanthropy
business13 days ago

Next-gen heirs push billionaires to give now, reshaping philanthropy

A Milken Institute report finds that heirs of ultra‑wealthy families are pressuring their parents to speed up charitable giving and to deploy funds more boldly, favoring trust-based, impact‑driven approaches like impact investing and advocacy to address systemic issues. High‑profile examples like MacKenzie Scott showcase unrestricted funding, while younger generations push for faster action and greater community partnership. The piece notes shifting philanthropy alongside a looming wealth transfer—about $124 trillion expected to move by 2048, with women inheriting a large share—driving changes in how giving is approached.

via Yahoo Finance|
#business#givingpledge#impact-investing
Madison Philanthropy Leader Michael Johnson Dies at 50, Leaving Lasting Impact
community1 month ago

Madison Philanthropy Leader Michael Johnson Dies at 50, Leaving Lasting Impact

Michael Johnson, longtime Madison nonprofit leader and CEO of the Boys and Girls Club of Dane County, has died at 50. The Chicago native built BGCDC into a major community force, raising more than $50 million, expanding programs, attracting celebrities to fundraisers, and guiding civic initiatives—from supporting Tony Robinson’s family to advocating for Vel Phillips’ Capitol statue and launching the Dane County COVID Emergency Fund. He briefly led United Way of Greater Cincinnati before returning to BGCDC, earning numerous state and national honors, and mentoring a generation of community leaders. Taylor Jackson was named interim CEO as the organization processes the loss; Johnson leaves wife Toya, son Michael Jr., and two daughters, with funeral plans to be announced.

via Madison365|
#boys-and-girls-club-of-dane-county#community#madison