The Value of Donating a Hefty Sum to Corporations Rather Than Charity

Here’s something from earlier this year that shot below my radar when it happened but bears boosted relevance now that we’re in the holiday season.

In March, Google CEO Larry Page detailed why he thinks giving to capitalists is more valuable than giving to charity. Now with phrasing like that, Page comes off like a mustache-twirling villain from a progressive agitprop. But, as reported by Business Insider’s Jay Yarow, Page’s idea is one that may better serve humanity in the long run:

“Google CEO Larry Page has an unusual idea about what should happen to his billions should he die. Instead of giving it to a philanthropic organization, he’d rather hand over his cash to Elon Musk, the founder of Tesla, SpaceX, and SolarCity. In a conversation with Charlie Rose at a TED conference on Wednesday, Page said he wanted his money going to capitalists like Musk — those with big ideas for changing the world.”

Page cites SpaceX’s mission of shooting for Mars as a philanthropic endeavor. Musk wants to establish a spare home for humanity in case this one runs into trouble. Donating to that cause may very well serve mankind better than donating to a charity focused on earthly dilemmas. There’s a sound argument there.

Yarow rather astutely identifies Page’s main point: “the right company run by the right person can have a major effect.” Corporations are not categorically evil. Capitalists are not categorically self-serving. You can argue that Page’s money could do just as much good if put toward fighting cancer or the preservation of the rainforest or the eradication of poverty. One thing you you can’t argue is that SpaceX isn’t as worthy a cause as those other things just because it’s not technically a charity.

Do you agree with Page’s point here? Why or why not? Let us know in the comments below.