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Articles on Billionaires

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Several lawmakers from high-tax states like New York are pushing for changes to a key tax deduction in Democrats’ $3.5 trillion spending package. Kent Nishimura/Los Angeles Times via Getty Images

Some rich people will love at least one sweetener in Democrats’ $3.5 trillion plan

The 2017 tax cuts put a $10,000 cap on the deduction for state and local taxes. The richest households would see the biggest gains from eliminating or raising the cap.
U.S. Rep. Alexandria Ocasio-Cortez making a fashion statement. Ray Tamarra/GC Images via Getty Images

‘Tax the rich’? Democrats’ plans to make the wealthy pay a little more will barely dent America’s long slide from progressive taxation

In 1950, the top 0.01% of earners paid almost 70% of their income in taxes. By 2018, the super-rich paid proportionately less than the average for all other Americans.
Craigslist founder Craig Newmark donates millions of dollars to journalism schools as well as other causes. Bryan Bedder/Getty Images for Rush Philanthropic Arts Foundation

What’s a major donor? A fundraising expert explains

How much money it takes to attain this status varies according to the size of the nonprofit getting the gift.
CEO Warren Buffett was surrounded by press and fans when he arrived at Berkshire Hathaway’s 2019 annual shareholders meeting in Omaha, Nebraska, in May 2019. Johannes Eisele/AFP via Getty Images

Why Warren Buffett is a model for his billionaire peers

The investor has already given half of his $100 billion fortune to charity and he has pledged to disburse nearly all of the rest.
Amazon founder Jeff Bezos, right, watches a video playback of his flight with his new space tourism company from the spaceport near Van Horn, Texas. (AP Photo/Tony Gutierrez)

Want to fix financial literacy? Focus on billionaires squandering their wealth, not school curriculum

Teaching kids better budgeting won’t fix post-pandemic inequalities. A more robust social safety net, less hoarding and squandering of wealth and more equitable tax policies might.
Graduates of Cal State Fullerton, one of many universities with nonwhite majorities that billionaire MacKenzie Scott is supporting. Jeff Gritchen/Digital First Media/Orange County Register via Getty Images

5 ways MacKenzie Scott’s $8.5 billion commitment to social and economic justice is a model for other donors

By not attaching any strings to the money, championing representation and generally taking care to respect nonprofit leaders, she’s following five best practices.
Spanx founder Sara Blakely has signed the Giving Pledge. Marla Aufmuth/Getty Images for Massachusetts Conference for Women

A window into the hearts and minds of billionaire donors

A careful review of more than 200 letters written by the wealthy people who signed the Giving Pledge over its first decade suggests a big contradiction.

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