Most billionaires should be ashamed of themselves!
Billionaire philanthropy is a ‘PR scam,’ says CEO who raised his workers’ minimum pay to $70,000
Gravity Payments CEO Dan Price, who raised his workers' minimum pay to $70,000 in 2015, recently called philanthropy 'one of capitalism's biggest PR scams.'
The CEO known for increasing his employees’ base annual pay to $70,000 says wealthy people donating their money and getting rewarded with “glowing articles, a hospital named after you and a massive tax write-off” amount to “one of capitalism’s biggest PR scams.”
Dan Price, the CEO of the credit-card processing company Gravity Payments, slammed America’s elites on Twitter TWTR , charging that the average billionaire donates a smaller share of their money to charity each year than the average non-billionaire.
As evidence, Price cited a recent ranking of the biggest charitable contributions of 2020, which included deep-pocketed donors such as Amazon AMZN founder Jeff Bezos. Critics of wealth inequality have pointed out that billionaires have seen their fortunes swell during the pandemic, but the contributions they’ve made to charity represent a tiny fraction of their growing wealth.
Whenever you see a billionaire (or close to) you should make them ashamed of themselves, if you can.