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How do the rich give away their money? With a smart strategy.

The article from MarketWatch discusses how wealthy individuals approach philanthropy with strategic planning, often employing the same meticulous strategies they use in their business ventures. It highlights that high-net-worth individuals typically engage in philanthropy not just for altruistic reasons but also for tax benefits, legacy building, and personal satisfaction. They often set up private foundations, donor-advised funds, or participate in giving circles to manage their charitable giving effectively. The piece also touches on the trend of "venture philanthropy," where donors apply business principles like investment, performance metrics, and accountability to their charitable activities, aiming for measurable impact. Additionally, the article notes the growing interest among the rich in addressing systemic issues like poverty, education, and climate change through their donations, often involving complex strategies that might include policy advocacy or supporting social entrepreneurs.

Read the Full MarketWatch Article at:
[ https://www.marketwatch.com/story/how-do-the-rich-give-away-their-money-with-a-big-strategy-4f4e9d9b ]