The idea of philanthropy has been around for a long time, but has recently received a big boost and some changes. Big tech companies have entered onto the scene, and their philanthropic methods are fueling a new wave of charity. These massive tech companies have a huge amount of assets at their disposal, and are using these assets to help those who are in need. New policies are being introduced, and emphasis on different types of charity is shifting. It’s always good to give back and support the less fortunate, especially when you can make a big difference as a powerful tech company. However, how exactly is big tech fueling philanthropy? What policies have they enacted that are different from past companies, and how effective are these new policies?
One of the more interesting policies that big tech companies have tried is the idea of donation matches. The idea behind it is that the big tech company matches an employee’s’ commitment to a good cause. Major tech companies like Apple and Google employ this tactic, and both policies have led to millions of dollars in donations and charitable support. Although the monetary contributions are nice, the support these companies provide their employees is even more important. Policies like these foster philanthropic efforts and over time will make the world a much better place.
The price of higher education has been a hot topic throughout the world, and charity has followed suit. Many CEOs and companies have established foundations and charity organizations with the goal of putting as many deserving students through college as they can. These foundations focus on providing financial aid in the form of grants and scholarships to needy students. College tuition prices are rising rapidly, causing some students to be completely unable to afford college. Many promising students may lose a great career simply because they can’t afford to attend college. Thankfully, big tech companies understand the importance of a strong education and have dedicated themselves in promotion higher education. These scholarships are often awarded to those that perform highly in high school, and their financial value can range anywhere from a thousand dollars to the entire tuition being paid off. It may not seem like much, but one scholarship or grant can completely change someone’s life.
It may sound crazy, but many of the biggest CEO’s have begun to donate their personal assets and fortunes to philanthropic causes. The biggest example of this is Mark Zuckerberg giving away 99% of Facebook’s shares to good causes. This has an estimated value of $45 billion dollars. Other smaller examples include people like Andrew Miller, Polycom CEO, who may not be able to donate $45 billion to charity, but still contribute a great amount. The best part about these donations is that they are completed early in the CEO’s lifetime. Instead of just pledging a small amount of their fortune on their deathbed, these tech CEOs have contributed a large amount of resources early on in their life. This type of dedication inspires action in others, and works to make the world a better place as a whole.