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The Times Tech Podcast

Renaissance's Tom Kalil: "Transforming philanthropy"

The Times Tech Podcast

Will Morley

Business, Unknown, Technology

4.9654 Ratings

🗓️ 31 May 2024

⏱️ 45 minutes

🧾️ Download transcript

Summary

There are about 1,200 billionaires in Europe and America. Why don't they do more good with their money? This week's guest reckons he can get them to do just that. The Sunday Times’ tech correspondent Danny Fortson brings on Tom Kalil, founder of Renaissance Philanthropy, to talk about why he created the organisation (4:15), nationalism (8:00), the problem with the current philanthropy model (11:15), leveraging tech and science (16:40), his background in Washington DC and the White House (22:20), working for Eric Schmidt (31:20), taking big swings (33:45), and the changing nature of giving (38:00),

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Transcript

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0:00.0

Yeah, technology.

0:03.0

What is it all about?

0:04.5

When I was working for President Obama and we were trying to get companies more involved in improving K-12 STEM education,

0:13.9

one of the companies said to me, I feel like I'm trying to put out a forest fire with my individual eyedropper.

0:20.5

So I think there are some areas where

0:22.4

there's strength in numbers that, you know, rather than having a large number of small programs,

0:29.9

you know, better to have a smaller number of at-scale programs which can make a serious level of

0:36.1

investment that is commensurate with the

0:38.6

sizing complexity of the problem.

0:53.0

Hello and welcome to Danny in the Valley.

0:56.5

This week, we're talking about billionaires, specifically, what those billionaires and,

1:03.7

you know, centimillionaires are or are not doing with all that money.

1:09.4

So a couple quick facts.

1:11.2

Between American Europe, there's about 1,200, 1,300 billionaires.

1:16.9

And the top 1% of the wealthiest people in the world globally own nearly half of the world's assets, about 43%.

1:28.1

And yet, most of them aren't doing much good with it.

1:32.8

According to a study of Americans with at least $500 million in net worth,

1:38.6

they have dedicated just over 1% of their wealth to charitable giving.

1:45.5

This week's guest is trying to change all of that.

1:50.0

Tom Khalil has had a long and storied career in Washington, D.C.

1:53.7

He worked for both Bill Clinton and Obama, the Obama White Houses,

1:59.1

where he spearheaded a bunch of different efforts to match government funds

...

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