Sifting through over 30,000 grants in the company’s database, MintPress can reveal that the Gates Foundation has bankrolled hundreds of media outlets and ventures, to the tune of at least $319 million.
by Alan Macleod
Part 5 - All the way to the bank
In most coverage, Gates’s donations are broadly presented as altruistic gestures. Yet many have pointed to the inherent flaws with this model, noting that allowing billionaires to decide what they do with their money allows them to set the public agenda, giving them enormous power over society. “Philanthropy can and is being used deliberately to divert attention away from different forms of economic exploitation that underpin global inequality today,” said Linsey McGoey, Professor of Sociology at the University of Essex, U.K., and author of No Such Thing as a Free Gift: The Gates Foundation and the Price of Philanthropy. She adds:
The new ‘philanthrocapitalism’ threatens democracy by increasing the power of the corporate sector at the expense of the public sector organizations, which increasingly face budget squeezes, in part by excessively remunerating for-profit organizations to deliver public services that could be delivered more cheaply without private sector involvement.
The new ‘philanthrocapitalism’ threatens democracy by increasing the power of the corporate sector at the expense of the public sector organizations, which increasingly face budget squeezes, in part by excessively remunerating for-profit organizations to deliver public services that could be delivered more cheaply without private sector involvement.
Charity, as former British Prime Minister Clement Attlee noted, “is a cold grey loveless thing. If a rich man wants to help the poor, he should pay his taxes gladly, not dole out money at a whim.”
None of this means that the organizations receiving Gates’ money — media or otherwise — are irredeemably corrupt, nor that the Gates Foundation does not do any good in the world. But it does introduce a glaring conflict of interest whereby the very institutions we rely on to hold accountable one of the richest and most powerful men in the planet’s history are quietly being funded by him.
None of this means that the organizations receiving Gates’ money — media or otherwise — are irredeemably corrupt, nor that the Gates Foundation does not do any good in the world. But it does introduce a glaring conflict of interest whereby the very institutions we rely on to hold accountable one of the richest and most powerful men in the planet’s history are quietly being funded by him.
This conflict of interest is one that corporate media have largely tried to ignore, while the supposedly altruistic philanthropist Gates just keeps getting richer, laughing all the way to the bank.
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