China’s Carnegie

From the economist:

THE problem of our age is the proper administration of wealth,” wrote Andrew Carnegie in 1889. More than a century later, the citizens of supposedly Communist China could hardly disagree. Carnegie, one of the wealthiest men of America’s Gilded Age, soon set about giving his money away, and on April 24th Jack Ma, one of the wealthiest men of China’s Gilded Age, suggested he would start to do the same. Mr Ma and Joseph Tsai, co-founders of Alibaba, an online marketplace, announced the creation of philanthropic trusts that could be worth as much as $3 billion. Somebody has to do something,” says Mr Ma of China’s environmental and health-care problems. Our job is to wake people up.

Promising, mostly because this is non-corrupt money and can change the tone of discussion around philanthropy.


Previous post
Tackling youth unemployment in Australia Kate Southam discusses the challenges of youth unemployment in Australia where the unemployment rate is twice the adult unemployment rate. She
Next post
Lei Jun on Xiamoi Strategy “We treat users as friends, asking them to help us improve, and we follow a strategy of product excellence with only seven or eight products.” - Lei