Charitable Giving

Effective altruism, a 21st-century movement that encourages individuals to do the most good by donating to cost-effective causes, has been damaged by the collapse of FTX, which had funneled game-changing amounts of money in its direction, and the conviction of its founder, Sam Bankman-Fried, for stealing billions of dollars from customer accounts.

Craig Newmark, founder of Craigslist and Craig Newmark Philanthropies, has donated $100 million to enhance cybersecurity measures and create a grassroots network to protect critical infrastructure, while also offering technology training for military families.

Effective private foundations are those that have a clear mission, effective governance, thorough knowledge of their charities, negotiate for reduced overhead costs, provide periodic support, and measure their philanthropic goals.

Billionaires are getting younger, and this presents an opportunity for the rising generation of Zillenial billionaires to reshape the realm of charitable giving, patronage, and philanthropy by embracing moonshot philanthropy and making a long-term commitment to social good.