Entrepreneurs are by their very nature change makers.  They see a problem and they find a solution. The good ones are able to leverage that into a successful business that not only solves a problem for their clients but provides a living for tens, hundreds or thousands of employees.

The greatest philanthropists of past and modern times are entrepreneurs.  Not happy with just addressing the problems of their clients, or even their industries they turn to bigger social problems.  But rarely are they content to just give money to mis-managed charities and NGO’s. In the 1800’s Rockefeller managed his giving ‘as if it were a business’ and that approach is being mirrored by the giants of modern day philanthropy, Warren Buffett and Bill Gates.

7 out of 10 entrepreneurs plan to give to, or become more involved with, philanthropy when they exit or are able to realise some of the value in their business.  That alone is a strong reason we should be creating more liquidity for small business owners. Yet entrepreneurs don’t need to exit to make a difference. Nearly 4 out of every 5 entrepreneurs say that giving is a critical part to who they are today. And Entrepreneurs typically give 50% more than others.  Perhaps more importantly, increasingly entrepreneurial ventures are starting with the desire to solve some of humanity’s biggest problems.

Larry Page has said he would rather leave his billions to Elon Musk and his efforts than a traditional charity.

Investing in the right entrepreneurs can have outsized returns for our planet and our children.

Study:  https://www.fidelitycharitable.org/about-us/news/fidelity-charitable-study-finds-entrepreneurs-leading-the-way-in-philanthropy.shtml

 

Author: Callum Laing
@LaingCallum
Linkedin.com/in/CallumLaing/

Contributor

Recently Published

Key Takeaway: Jean-Michel Basquiat’s work highlights racial inequalities and the lack of representation of racialized people in the media, but also the violence suffered by African Americans. Jean-Michel Basquiat denounced the violence of cartoons, which he saw as a reflection of 20th-century American society. Jean-Michel Basquiat’s painting “Toxic” is an attempt to denounce a stereotypical […]

Top Picks

Good feedback, whether you are on the receiving or giving end, requires an attitude of curiosity and openness. Intentionally creating space for feedbackcan help, but even with the right space, receiving feedback can be really scary. Many organizations have formal systems of feedback in the style of mid-year and annual reviews. And it’s not uncommon for informal continuous […]

Trending

I highly recommend reading the McKinsey Global Institute’s new report, “Reskilling China: Transforming The World’s Largest Workforce Into Lifelong Learners”, which focuses on the country’s biggest employment challenge, re-training its workforce and the adoption of practices such as lifelong learning to address the growing digital transformation of its productive fabric. How to transform the country […]

Join our Newsletter

Get our monthly recap with the latest news, articles and resources.

Login

Welcome to Empirics

We are glad you have decided to join our mission of gathering the collective knowledge of Asia!
Join Empirics