The richest man in the world is no longer American, but Mexican, a sign of the developing world’s wealth — and potentially foreshadowing a shift in philanthropy.
With $53.5-billion, the Mexican telecommunications investor Carlos Slim Helu edged out Bill Gates as the top billionaire, says Forbes magazine. It also notes that Brazil, Russia, and Turkey experienced significant growth in the number of superwealthy.
While America is still home to the largest number of billionaires (403), the growing personal assets in other places could lead to big giving, philanthropy experts told The Chronicle in a recent article. They predicted India, China, and Brazil could have a boom in splashy charitable donations in the near future.
The potential philanthropy windfall is one reason fund raisers at large American charities are seeking more money from donors aboard, according to a Chronicle article.
Mr. Slim himself has pledged part of his fortune to charity, though he has at times questioned the ability of charitable giving to solve big social problems in Mexico.
In 2007 he said he would increase his foundation’s endowment from $4-billion to $10-billion by 2011. And last year as the recession sapped much of Mexico’s philanthropy, he promised to give more to hard-hit charities, according to a Chronicle article about Latin American donors.
To be sure, not everyone is plesased by the Forbes findings. The Associated Press reports that some Mexicans argue Mr. Slim’s concentration of wealth is bad for a country where 50 million live in poverty.
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What do you think? What do the new Forbes rankings mean for philanthropy? Click on the comment button below to share your views.
4 Responses to Forbes Rich List Has Implications for Global Philanthropy
lindsayn - March 12, 2010 at 1:55 pm
Gates would still be #1 if he hadn’t given so much to the Foundation. Maybe Slim needs to follow Gates’ example and start his own strategic philanthropy project. Even better, think about what they could accomplish in Mexico if they worked together.
ahartley - March 12, 2010 at 2:47 pm
Mexico’s problems are legion and very visible. Whether they can be solved through charity is a question, but few of us have illusions that we can end the problems our organizations address. Yet we continue to try, and in the process we make some dents and then more dents and then more dents. Mr. Slim could certainly do more than just make a dent, and I agree that he should look at Bill and Melinda Gates as an example.
dcspacone - March 12, 2010 at 2:57 pm
By working together in Mexico, I hope you mean that Gates could show Slim how to throw around his own money in Mexico, not Gates money?
trish1980 - March 17, 2010 at 1:13 pm
My name is Patricia Baker; 29 year old mother of two small children; 9 year old boy and 5 year old girl. It has been on my heart and a major passion of mine to start an organization/ ministry to provide a place of support for children, teens, and families that are victims of sexual and physical assault. I have dealt with this issue since I was 17 years old when I rescued a 1 year old baby from a brutal sexual rape; unfortunately the police did nothing to protect the baby and the sexual battery continued. I was unaware that the child was raped up to the age of 5 years old when she came to live with me temporary and confided in me about every horrible detail of the sexual abuse. I banded together with my church and the local police department to have her “grandfather” who was a deacon at her church sentenced to prison. He has recently been released and the child which is now 14 years old begs to come and live with me because she wakes up every night screaming from nightmares of him sneaking through her window while she sleeps. Since that time, I have been a victim of rape myself several times and I am fully aware of the pain that deeply affects the victims and their family; living a normal life is almost impossible for the victims of these circumstances. I feel very deeply that no person should carry this burden through life feeling alone and worthless due to another stealing their dignity. I have high hopes and endless prayers to open a facility that provides a “get-away” and support group from past sexually assaulted victims to help one another cope with such difficult emotions. I plan on providing the help through personal past experiences, providing compassionate understanding, providing biblical teachings and healing, helping victims and their families build friendships with victims such as they are, and a 24 hour support group 24 hours a day and 7 days a week. There are several families here in my community that have no place or person to turn to for help for advice or help to overcome their tragic experiences. There are several vacant buildings within our communities that can easily be transformed into a safe haven for these families with the proper funding. Unfortunately, I am unable to provide the funding and the community has ignored this issue for far too long.I believe with all my heart that with the proper funding these children can move past the pain, anger, and discouragement associated with the trauma that has consumed their lives. Any help would be more than greatly appreciated. I have devoted my life to helping children; I am a Tennessee State Certified Educational Assistant and have been a Teacher Assistant/ Substitute since 2001. I am fully prepared to donate all my time to this program to help children excel above their highest expectations! I am praying that this dream can become a reality for not just this community but for for all communities whose children are in need of hope. Sincere Blessings, Patricia BakerPatricia Baker216 West Main StreetSharon, TN 382551-731-819-7888 ( cell)