I remember a talk show host discussing this once. If I understood correctly, the “givers” get enormous tax credits by donating to a “charitable cause” run by a foundation they create. They still retain control of the money because they run the foundations, and I think they can spread those tax credits out for many years.
I think altruism is on the list, but way down it.
This is just a scam that is part of the US tax code. The donor gets huge tax benefits. The money now grows tax free. And the grantor (MB in this case) gets to decide how much is given to which charities and causes and when it will be given.
If the media would even make a minimal effort in explaining this the majority of taxpayers would agree with Leona Helmsley: Taxes are for the little guy (she could have added “and losers”).
It is truly exciting what a person with say $10 or $20 million can do these days. Put half of your cash and assets in a donor-advised charity. Live on the other half. Watch the charitable pile of $$$ grow. And give from that pile to the charitable causes that are important to YOU.
Maybe this will help to further explain why rich people have so cute a sense of moral superiority. Some of them know how the rules are truly in their favor.