The superrich wanted Great Wealth Transfer, by becoming philanthropist effectively means transfer of family wealth from the Baby Boomer generation to their children.

Vanguard estimated that by 2030, around $10.6 trillion will have been transferred between generations in the United States, $.35 trillion in Europe, and $2.8 trillion in Asia. These are enormous figures, but globally, the private equity industry had $8.2 trillion of assets under management at the end of 2023.

There is great wealth transfer happening every day that has contributed to this enormous accumulation of wealth: the monopolization of the economy. 

Wealth transfer emerges from the pocketbooks of consumers, from workers’ wages, and from the reduced profits of small and independent businesses as wealth flows to powerful companies and their shareholders.

The wealth system does not belong to the natural world.  This artificial system created by humans, makes it entirely within our capacity to build something different. The current system was created according to values of ownership, extraction, and antisocial competition. 

In the social sector, because of private equity and public market equivalents do not really exist, it is considered extraordinary when anywhere close to half of a social change need is collectively met. One Acre Fund, supplies over 4 million African smallholder farmers with the finance supplies, and training to grow more food, plant more trees, and earn more money. Africa’s 61 million smallholder farmers play a vital role in food security, jobs especially for women, and land stewardship.