184. The Better World Lecture 2024, Why is philanthropy so difficult these days? Drapers’ Hall, 15 May 2024

This lecture was sponsored by CCLA Investment Management Limited and Marylebone Executive Search, both of whom carry out significant work for Livery Companies.  There were representatives of many companies in the audience.  The Lecture was given by Sir David Cannadine - Dodge Professor of History Emeritus at Princeton University and Visiting Professor at the University of Oxford and Past President of the British Academy.  He is also a Trustee of the Wolfson Foundation, the Royal Academy, the Gladstone Library and many more.  He sits on the Bank of England Banknote Advisory Committee, is Vice Chair of the Westminster Abbey Fabric Commission and a Vice President of the Victorian Society. He is a regular author and specialises in modern history and the history of business and philanthropy.

He described his work including writing biography of Andrew Mellon and the Ford Foundation and the impact of these philanthropists.  He discussed the major past and present supporters of our universities such as the Wills family in Bristol and, coming up to date, how philanthropists have secured the sacking of university staff they did not agree with through the sheer influence of their money.

He went on to describe how when philanthropists, like the Sacker family following the opioid scandal, have fallen from favour, their endowments and any references to them are steadily removed.

He termed much of philanthropy as perpetuating self-interest and inequality, in part at least maintaining the status quo.  He pointed to the need to change the laws on charitable giving, especially in the USA, where philanthropists wield so much power and influence.  He pointed out that only 10% of the +£10million wealthiest individuals give any of their wealth away.  He also observed that the Gates Foundation income is greater than that of many African countries.

It was a hard reflection on the state of philanthropy with much so-called charitable giving going to those with wealth rather than those in need.