Has philanthropy been overlooked as a means of consolidation? Not in Germany. Fifty-one millionaires and billionaires have apparently formed a ‘Club of the Wealthy’. That club has written to chancellor Angela Merkel, offering 10 per cent of their income for 10 years, in a ‘rich tax’.
Such acts of kindness are all the more rare for being collective. Forming a club, rather than donating individually and noisily, speaks volumes about its members. It also increases the members’ chances to do good, now and in the future, by creating a structure that could attract more people over time, and even survive the 10-year time horizon of its founders. Who knows, the idea might catch on. Read more