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April 18, 2008, 11:16 AM ET
$70-Million Donor Should 'Cool His Jets'
After the Freakonomics blog this week solicited suggestions for how a real-life donor could distribute $70-million to charity, fund raisers of all types — including arts leaders, heads of healthy charities, and even a representative of Church of the Flying Spaghetti Monster chimed in online to make their pitches.
But Jack B. Siegel, a nonprofit lawyer and author of Charity Governance blog, suggests the wealthy man, identified only as Michael, “cool his jets” and wait to give his money away.
Mr. Siegel writes that the 31-year-old has his entire life to be a philanthropist and that he shouldn’t be too hasty with his giving.
“We bet there are already charities and others trying to identify Michael so that they can sink their avaricious claws into him and his money,” he writes.
Mr. Siegel would like to see Michael mature a bit more before making huge charitable decisions.
“Michael may find at age 35 or 45 that he believes the best way to serve humanity is to start a company, invent a new product, or invest in a venture. It would be a shame if Michael couldn’t do that because he had acted too quickly,” he writes.
What do you think? Should Michael slow down and wait to discover how he feels in a few years about philanthropy?
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