Premium
THE CHARITY OF THE EXTREMELY WEALTHY
Author(s) -
Coupe Tom,
Monteiro Claire
Publication year - 2016
Publication title -
economic inquiry
Language(s) - English
Resource type - Journals
SCImago Journal Rank - 0.823
H-Index - 72
eISSN - 1465-7295
pISSN - 0095-2583
DOI - 10.1111/ecin.12311
Subject(s) - pledge , liberian dollar , economics , sign (mathematics) , commerce , monetary economics , business , advertising , law , finance , political science , mathematical analysis , mathematics
In this article, we show that, compared to billionaires who have inherited their wealth, billionaires who have made their own wealth are more likely to sign the Giving Pledge and more likely to be in the Million Dollar Gifts list or the Philanthropy Top 50 list of big givers. If they give, self‐made billionaires also tend to donate more money. We explore several possible explanations for this correlation between the origin of billionaires' wealth and their charitable giving, and present evidence that suggests that self‐made billionaires tend to spend more money, both by giving money away and by buying expensive items. ( JEL D03, H40)