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David Dodwell
David Dodwell

Inside Out | ‘Space philanthropy’ of Jeff Bezos and Elon Musk is less impressive than down-to-earth visions

  • The Gates’ foundation has made huge headway on Earth in the battle against malaria and polio
  • But what cost-benefit analysis persuades Jeff Bezos that US$1 billion a year on his space programme is a good way to spend his Amazon gains?

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Billionaire American businessman Jeff Bezos wears goggles owned by Amelia Earhart, which he carried into space, at a post-launch press conference after he flew on Blue Origin’s inaugural flight to the edge of space, in the town of Van Horn, Texas, on July 20. Photo: Reuters
David Dodwell
With over 2,700 billionaires worldwide, controlling at least US$13.1 trillion in wealth, and an estimated 260,000 philanthropic foundations sitting on around US$1.5 trillion in charitable funds, we arguably find ourselves in an age of unprecedented inequality, and unprecedented philanthropy.

Philanthropic giving has a massive impact on governments and global policymaking. Whether for better or worse depends on your political view: if it flows to a cause you passionately support, then it is no doubt a gift to be welcomed. If it goes to a cause you despise, then it is an unacceptable assertion of influence at the whim of the elite.

Some forms of philanthropy are almost indisputably good. When the Bill and Melinda Gates Foundation committed to malaria research, it doubled global funding at a stroke.

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Its decision to do the same with polio, funding the vaccination of 2.5 billion children worldwide, has virtually eradicated the disease. Its support for Covid-19 vaccinations in developing countries will almost certainly have a massive impact on the global pandemic.

But as we watched Amazon’s Jeff Bezos and Virgin’s Richard Branson celebrate their brief sorties to the edge of space this month, with Bezos spending about US$1 billion a year on his Blue Origin space launch programme, it is difficult not to be distracted by the excesses of the super-rich.

02:14

‘Best day ever’: Amazon founder Jeff Bezos launches to space

‘Best day ever’: Amazon founder Jeff Bezos launches to space
One example of generosity that gives philanthropy a good name is the Bill Gates-Warren Buffett “Giving Pledge”, which calls on the super-rich to donate at least half their wealth to philanthropic causes. So far, at least 200 billionaires have signed up to the pledge.
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