THE CHARITY OF THE EXTREMELY WEALTHY |
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| Authors: | Tom Coupe Claire Monteiro |
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| Institution: | 1. 380444928012380444928011;2. Associate Professor, Kyiv School of Economics, Kyiv 1010, Ukraine;3. Master of Public Policy, McCourt School of Public Policy, Georgetown University, Washington, DC 20010 |
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| Abstract: | In this article, we show that, compared to billionaires who have inherited their wealth, billionaires who have made their own wealth are more likely to sign the Giving Pledge and more likely to be in the Million Dollar Gifts list or the Philanthropy Top 50 list of big givers. If they give, self‐made billionaires also tend to donate more money. We explore several possible explanations for this correlation between the origin of billionaires' wealth and their charitable giving, and present evidence that suggests that self‐made billionaires tend to spend more money, both by giving money away and by buying expensive items. (JEL D03, H40) |
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