While Silicon Valley may not be as rich as it was during the tech boom of the late 1990s, recent IPOs (Facebook, Zynga, Zillow, etc.) have minted thousands of new paper millionaires and billionaires in California’s tech hub. Many are young, innovative, and increasingly, quite philanthropic.
In a recent article on Co.Exist, Ariel Schwartz highlights the changing ways of giving among Silicon Valley’s young stars. While Mark Zuckerberg made a splash in late 2012 when he announced that he is giving $500 million to the Silicon Valley Community Foundation, many other young tech entrepreneurs are starting to bring their passion for innovation to the philanthropic sector.
What makes this new generation of philanthropists different? According to Schwartz, they tend to prefer big risks and big investments, with the goal of creating big social change.
Read the article on Co.Exist, and tell us your thoughts on the new breed of American philanthropy on Facebook.
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