Why Celebrities Should Be Investing, Not Just Donating
Oh, how the rich and famous love to tout their latest philanthropic endeavours. From Harrison Ford to Leo DiCaprio to Mackenzie Scott, people with gobs of money like to tell us how generous they are with their dollars.
Yay, them.
I’m not here to say that nonprofits don’t need financial support. Many of them are doing incredible, effective work and deserve the help.
But when celebrities choose to go the charitable route for a fantastic tax write-off, it doesn’t always do as much good as people think. Whether donating to an existing charity or setting up their own foundation, the actual good being done is often murky at best.
To be blunt, the ultra-wealthy often start foundations and make giant charitable donations to limit their tax burden and gain positive PR. If a little bit of good happens along the way, that’s great, but it’s not always the real motivation.
So-called “philanthrocapitalism” is frequently just another way to run a corporation without the tax liability. These foundations and charities often have the celebrity’s relatives in paid positions (see also: nepotism) and frequently pay out more to these employees than to the actual organizations that need the money.
Is There Another Choice?
At The Mermaid’s Garden, we think it’s time for these high-profile people to do some real good with their dollars by investing in businesses that have boots on the ground to change their corner of the world.
Charities and nonprofits are not the only way to do good in our communities. Innovative businesses are all around us, but they generally don’t become media darlings that draw celebrities and other wealthy individuals.
If high-profile and high-net-worth people became investors in businesses, companies would have the resources to effect true change in their communities.
Somehow, we have to get the word out that “nonprofit” doesn’t always equal “good.” And “corporation” doesn’t always equal “bad.” There is so much nuance in between these two extremes, but without adequate funding, many incredible businesses can’t get off the ground to begin doing the work the world needs.
Famous people could make this happen with their dollars if they genuinely wanted to create change. We’ve had enough of the “How Celebrities Are Saving the World” articles. They aren’t. If they were, we wouldn’t still be having this conversation, would we?
Become Part of the Solution
So, famous people, I invite you to use your faces, names, and cash to boost fledgling companies that are poised to do big and amazing things. I’m talking to you, Leo. And you, Harrison and Mackenzie. And while I’m at it, I’m talking to Your Royal Highnesses across the ocean, too.
And if you’re not sure where to start, I’d love to tell you about this healing, soul-lifting retreat and farm here in Oregon. The Mermaid’s Garden is changing the way we relate to our land, our food, and ourselves.