China’s rich have acquired many of the tastes of the Western rich: art, Gulfstream jets, DRC Burgundy, and Hermes bags. But Bill Gates says they haven’t embraced one of the most important: philanthropy.
Last year, China’s top 100 philanthropists donated a mere $890 million, according to the Hurun Report. America’s top 50 donors, by contrast, gave away $7.7 billion last year.
Mark Zuckerberg and his wife gave away more last year—just under $1 billion—than all 100 of China’s top philanthropists.
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