Idealistic entrepreneurs
Among the categories of Generation X and Generation Y philanthropists, business entrepreneurs stand out for their boldness and expertise in innovation and formulating new charitable models. In addition to making their mark on business, they are transforming the methodology of charitable giving.
Portrait: Dustin Moskovitz and Cari Tuna
Grants awarded since December 2011: More than US$15m
Focus: Healthcare, poverty in developing countries, other areas
Goal: To donate the majority of their wealth, estimated at US$7bn
As a co-founder of social media giant Facebook, Dustin Moskovitz achieved phenomenal wealth in his early 20s. Not long after, he decided to give much of it away. In doing so, he and his wife, Cari Tuna, a former journalist with The Wall Street Journal, have become one of the premier power couples in 21st-century philanthropy.
To further their ambitious mission to save and improve lives around the globe, Mr Moskovitz and Ms Tuna founded Good Ventures in 2011 as the main outlet for their charitable giving. Shortly thereafter, the couple signed the Giving Pledge, at the invitation of Bill and Melinda Gates and Warren Buffett, committing them to giving away most of their wealth and ensuring that they’d keep busy with their charitable endeavours.
The couple explains: “The question that guides our work is, ‘How can we do the most good with the resources at our disposal?’ That means asking ourselves questions like, ‘Can we do more good by funding scientific research or policy advocacy? How do giving opportunities in those areas compare with opportunities in foreign aid or mitigating potentially catastrophic risks to humanity’s future?’ These questions don’t have straightforward answers, of course, but we’re using them to help chart our course.”
A focus on transparency and information-sharing distinguishes the couple’s unique approach to giving. As they research causes, they are publishing everything they find on their foundation’s website. “Sharing what we’re learning, with detail and honesty, is really important to us,” they say. “We see transparency as a way to magnify our impact. If we make what we’ve learned available to others, and vice versa, the field of philanthropy will be able to iterate much faster with less duplication of effort. Transparency is also a way to invite feedback on our process and conclusions.”
And as for their scope, both Mr Moskovitz and Ms Tuna strive to enhance and deepen the personal connections in an increasingly globalised world. “The world is our community,” they say. “We are both focused on how to help the most people globally, whereas while we were growing up, our parents tended to focus on caring for family and people in their local communities.” But they add that both their parents recently have become more active in giving globally—just one of the noticeable effects the younger generation of givers is having on others, even within their own families.
