THE NEW COLORS OF PHILANTHROPY: Red, White, and Blue

 A series of essays.....

"PATRIOTIC PHILANTHROPY"

.....as seen through my eyes!


By: Jacqueline E. Hughes

When I was very young I sometimes heard the word philanthropist spoken in conversations by the adults around me. It was one of those long, undefined words that made me stumble over its pronunciation several times before almost getting it right while sounding like a needle skipping over a scratch on an LP (Long Play), 33 1/3 rpm microgroove vinyl record. Sometimes I would make it through to the next syllable, note or lyric. But, usually, I did not and I'd inevitably be stuck in the middle of the word trying to spit it out.

Today, of course, I can speak, spell and define the word  philanthropist, along with all of its derivatives. But, I do remember asking my Mother one day what that long, curious word meant. Her reply went something like this, "When a man has been blessed with having so much money he decides to share it with those who have far less than he has, and his heart is large....because he has great love for his fellow man. Oh......., and I really wish we knew one!!"

How many of us have said at one time or another that if we were fortunate enough to win BIG in the lottery, we would give some of our winnings away to charities and to others who might benefit from it, as well? In today's terminology, this way of thinking would be called 'paying it forward' and a good many of us do our part with this admirable philosophy whether we're loaded with  bundles of cash or simply possess an abundance of good intentions. Either way....we are all winners! Our time is precious to each and every one of us and to donate even a little of it towards benefiting those in need constitutes a magnanimous contribution to the world.

I am talking about Big Bucks here and the philanthropic benevolence and good will shown by the likes of Bill Gates in the fields of science and medicine in the hopes of enlightening third world countries to the importance of vaccines and good health. In the U.S., his foundation's main initiative is education with teacher training in particular as the main project. 

Standing side-by-side and, initially bolstered by Microsoft stock, Bill and his wife, Melinda Gates, have become the preeminent philanthropic institution in the world. So far they have donated over $28 billion in their lifetime making them likely the most generous givers in the world, according to the online publication, The Chronicle of PHILANTHROPY.



"THE GOSPEL OF WEALTH"

Warren Buffett has succeeded in giving away over $8.3 billion. Buffett is an American business magnate, investor and philanthropist and has been called the most successful investor of the 20th century. As CEO of the diversified holding company, Berkshire-Hathaway, he announced in 2006 that he would be committing 85 percent of his fortune to the Bill and Melinda Gates Foundation.

If all of these monetary sums appear staggering to you, well.....they should. Not many of us will see the likes of them in our own lifetime. However, I can almost guarantee that each of us will eventually reap the benefits from every dollar that is invested into the betterment of mankind around the world. One example might be the act of educating all nations on how clean, drinkable water for the masses is a prudent step in the direction of better health and the future wellbeing of everyone.

Recently, philanthropic banners fly overhead emblazoned by dollar signs and sporting a striking background of red, white, and blue and all due to one man, David Rubenstein, billionaire investor and founder of The Carlyle Group, a global asset management firm. Eleanor Clift of The Daily BEAST quotes Mr. Rubenstein as saying, "I have made more money than I can consume intelligently or than my children should ever have, so I decided to give it away. A large part of my philanthropy goes back to this country."


According to Clift, "He calls it patriotic philanthropy and he defines it as giving money to projects that government would be doing if it had the resources." His multi-million dollar gifts include the restoration of the home of James Madison, the refurbishing of the Virginia home of Robert E. Lee, half of the $15 million tab to rebuild the Washington Monument after the 2011 earthquake, and his copy of the Emancipation Proclamation that is on loan to the White House. Mr. Rubenstein has recently placed on loan to the National Archives the only copy of the 1297 document of the Magna Carta in existence in the United States which he purchased to save it from being sold and taken out of the country.

Clift writes that as though to reassure skeptics that good can come from unbridled capitalism, Rubenstein says when he hires he looks for people "who don't think there is anything wrong with making money, and know what to do with it when they have it."

He has taken the "Giving Pledge," under which billionaires like Bill Gates, Warren Buffett and Mark Zuckerberg and others dedicate more than half their wealth to philanthropy.

Instead of helping to create new monuments....it appears that the goal of Mr. Rubenstein is to protect and maintain existing monuments and documents located throughout our nation and keep them safe for every generation to enjoy.  This is something I find quite admirable.
Born from humble beginnings in Baltimore with parents who encouraged his education but could give him only their unconditional love, he worked hard. And, via scholarships to Duke University and the University of Chicago Law School, he paved his own way into the corporate world. He doesn't give money to politicians and he is profoundly grateful to the country that gave him so much opportunity, writes Clift.

PHILANTHROPIST DAVID RUBENSTEIN GIVES
NATIONAL PARK FOUNDATION $5 MILLION
TO REFURBISH IWO JIMA STATUE

Even though Rubenstein gives generously to medical research and education, recently, patriotic philanthropy has gotten the most attention in this multi-million dollar gift bag of generosity and 'paying it forward.' This is most probably because not many people are doing it. I, for one, hope it catches on and filters over to other areas that have been greatly plaguing this country of late such as our nation's infrastructure! Wouldn't you agree?

I leave you with a quote by David Rubenstein that, for him, defines the word philanthropy. "Philanthropy is a Greek word that means 'love of humanity,' not rich people writing checks."

In the end, I believe that everyone comes out a winner!

After all......Anything is possible.

Copyright © 2015 by Jacqueline E. Hughes
All rights reserved