Source: Bloomberg Billionaires Index THE WASHINGTON POSTThe scrutiny of tech billionaires’ wealth is also driven by the role their companies played during the pandemic. Apple’s market capitalization crossed the $2 trillion threshold last year, making its chief executive, Tim Cook, a billionaire. In this case, giving extravagantly when the need is so great could confer legitimacy and undermine critiques against the undemocratic nature of billionaire donations. Tompkins-Stange said the idea of a benevolent billionaire is a uniquely American phenomenon and a function of the country’s tax exemption code for foundations. “You just start to realize that everything the tech billionaires promise is premised on a healthy, functioning society,” said author Giridharadas.

Source: Washington Post March 12, 2021 12:02 UTC