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February 27, 2008, 09:31 AM ET
Donor Defends Gifts to Bill Clinton's Foundation
A donor to Bill Clinton’s charitable fund is defending himself against suggestions that his philanthropy assisted his business endeavors.
“My relationship with former President Clinton is solely based on our shared global charitable causes — nothing more and nothing less,” writes Frank Giustra, president of Fiore Financial, in a letter to The Wall Street Journal protesting a recent editorial.
The New York Times and the Journal have raised questions about whether Mr. Giustra’s close charitable ties to Mr. Clinton have helped secure business deals abroad. Mr. Giustra has given $31.3-million to the Clinton Foundation and pledged to provide $100-million more.
In his letter, the Canadian entrepreneur writes that he has been the target of “character assassination” by the news media and that the former president has only served as a charitable adviser.
“I am proud of my friendship with Bill Clinton. I have seen firsthand how inspiring his charitable work is, and how he has provided hope and relief to millions of people world-wide who never before had an advocate of his stature. He has shown me how and why philanthropy needs to be a truly global endeavor, and how to globalize my own longstanding philanthropic activities and interests,” he writes.
What do you think? Is Mr. Giustra’s giving being scrutinized unfairly? Or are his philanthropic and business interests too closely aligned? Click on the comments link below this post to share your thoughts.
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