There are many areas in which business program founders, as well as entrepreneurs, help out the society. It is a cycle where start-ups look to business incubators for help as they start out in the trade and once they make it, they give back by mentoring other people and providing monetary contributions to the society.
Without this kind of funding, constant innovation would be difficult.
Instead of giving people a one-off sum of money to help them through tough situations, entrepreneurs are now giving away shares such that the beneficiaries can receive a steady stream of money for the times to come. One such example is that of Mark Zuckerberg who parted with shares worth one billion and gave them to the Silicon Valley Community back in 2013.
By doing so, entrepreneurs elevate the communities in which they give the shares and give them a sense of independence.
When entrepreneurs invest in education, they make it possible for the younger generations to have access to resources that can help them nurture their innovative abilities. Many people are now giving back to schools by building libraries, labs, sponsoring needy students and other activities geared towards elevating the status of such institutions.
In the year 2013, Charles Johnson donated a sum of two hundred and fifty million dollars to Yale University which is his former school. Though many people may consider such donations unnecessary, it is essential that you note that such establishments rely on such donations to produce competitive graduates.
For an extended period, people have used foundations as a way to amass money which they could then give to the needy in the society. The money goes into community projects such as the provision of utilities, helping people out during crises and paying for the basic needs of the people. Entrepreneurs are now giving money to such organizations or starting foundations where they can aid the society.
Brin, a co-founder of Google, donated two hundred and nineteen million dollars to his foundation in the year 2013. In addition to this sum, he also put in a hefty amount of cash in the Michael J, Fox Foundation. Money from these organizations goes a long way in funding a large variety of not-for-profit organizations.
The art industry does not get left behind when it comes to the beneficiaries of such charitable acts. Paul G. Allen not only parted with two hundred and six million dollars to fund his foundation but he also went ahead to support the EMP Museum.
As a co-founder of Microsoft, he has a focus on social services, culture, arts, and education. The money from his foundation gets distributed amongst other organizations which are deserving of the money.
Professional sport teams and players have been contributing greatly for the development of educational facilities as well. Not only that but last year a charitable sports betting app was launched which allows and encourages sports bettors to donate lost bets to charity.
It is not often that we take into consideration the amount of sacrifice that soldiers make for our countries to continue running the way they do. Mark Cuban, best known for his business and appearances on the Shark Tank, has made a lot of philanthropic strides in a bid to reach out to the military personnel.
Back in the year 2003, he came up with a fund known as the Fallen Patriot where his primary focus was on military people who got injured or killed in the line of work during the Iraqi operations. He matched the funds sourced from various people, thus contributing significantly to these families that were in need of help.
Other than helping out people in the military, Cuban also works with other charitable organizations.
Innovation heavily relies on research and without the necessary resources to carry out such studies; we would not reach great heights. Entrepreneurs who give back to scientific fields enable innovators to come up with new things ever so often.
One such entrepreneur is Laura Arnold who donated a sum totaling to two hundred and ninety-six million dollars to a foundation she runs alongside her husband. The foundation’s primary areas of focus include scientific research, public education, and public policy reforms. With efforts such as theirs, we can look forward to more discoveries in the future.
Some entrepreneurs believe that the key to giving back is in improving the public sector. Following that ideology, Bloomberg put in a lot of money aimed at improving city authorities all over the world. He also spent a substantial amount of money in aiding environmental groups, the education sector, arts and public health.
His total contributions in 2013 amounted to four hundred and fifty-two million dollars.