Philathorpy in American History & Major Donors Today

1. The word Philanthropy is given the meaning of goodwill toward other people and an effort to promote human welfare. Philanthropy involves charity on a large scale but more than just charitable donations. "Philanthropy is a more strategic process of giving that seeks to identify the root causes of systemic issues and make the world a better place by tackling societal problems at their roots."

2. While Andrew Carnegie was one of the wealthiest men in the world he decided his wealth would be better suited to help others through several philanthropic acts. Carnegie founded the construction of 2,509 libraries which costed over $55 million of his immense wealth. Including this, he also used his wealth for thousands of church organs, colleges, schools, and nonprofit organizations. Carnegie also established the Carnegie Corporation of New York in which he poured $135 million into to promote education and international peace. By the end of his life, Carnegie had distributed $350 million to many heroic places leaving him with $30 million left which he also used to support the Carnegie Corporation of New York. Carnegie said, "The man who dies thus rich dies disgraced", meaning someone who hoards their wealth for personal use and dies is disgraced because they did not do their duty to make the world a better place with through use of wealth and power. Throughout his life, Andrew Carnegie worked incredibly hard for his wealth and status but his eyes were forever fixed on the needs of others and what he can do to make the world a more peaceful place.

Wikipedia, Carnegie Library

3. In his life time, John D. Rockefeller provided more than $500 million to philanthropic actions. Rockefeller used the money for educational causes, such as funding the University of Chicago and Rockefeller University, as well as religious and scientific causes. Throughout his career, Rockefeller was accused of using unethical way to improve his company but later in life he followed in the foot steps of Andrew Carnegie who retired and spent his money for philanthropic causes. I believe the $500 million Rockefeller gave away was more of a donation than an investment. Carnegie seemed more devout in his philanthropy and created corporations to aid the public as well as libraries and schools to encourage education. And Carnegie was determined to use the extent of his wealth and ready to use it all. Both Rockefeller and Carnegie were incredible philanthropists and left an immense influence for others to join and follow but I feel philanthropy came more naturally to Carnegie and he had a plan for using his wealth to help the world instead of only donating his wealth for others to use like Rockefeller.

4. The Carnegie Foundation is continuing to follow in the influence of Andrew Carnegie and contributes to the community such as funding advancements and developments in education. 

5. Some of the top philanthropists today include Warren Buffett, Bill Gates, and Michael Bloomberg. Michael Bloomberg participated in creating Bloomberg Philanthropies which focuses on public health, arts and culture, the environment, education, and government innovations. At this time, Bloomberg has donated over $6 billion to several causes along with Bloomberg Philanthropies distributing $767 million.

6. The type of philanthropic work I would like to participate in is more like Andrew Carnegie. I would like to help people personally such as volunteering at homeless shelters and assisting the advancement of education.

Sources:

Merriam-Webster, Philanthropy 

Carnegie Medal of Philanthropy, Andrew Carnegie: Pioneer. Visionary. Innovator.

History, John D. Rockefeller

Bloomberg Philanthropies, Mike Bloomberg

Community Foundation of Greater Fort Wayne, Charity vs Philanthropy?