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The charity loopholes really frustrate me on so many levels. It’s turned into a tax write off, good PR, and potential source of shady deals and money laundering. I believe all that money could be put towards high risk but high reward investments the money isn’t properly funding such as innovative results based research in cancer treatment/prevention that uses actual decreases in cancer rates as the metric rather than number of publications or risky game changing investments in clean fusion energy projects. My reasoning is that it could serve a lot of the same purposes as current non profits such as protecting wealth and creating good PR but at least producing results for society and removing the shady stuff. Basically tell billionaires if they want to throw money away to save on taxes and generate PR then do it by investing in the long shots they wouldn’t normally touch.
Charities don't mean what they're supposed to mean in these contexts. They all gain a lot personally from these outings. It's sick we even have an avenue for these backroom deals.