Giving Compass' Take:

· Although they have the power to make real change with their philanthropic giving, billionaires should not be excused for harmful business practices. Here, Forbes provides a few ways billionaires can protect themselves from harsh criticism of their philanthropy.

· How can these individuals provide transparency to build trust in the public? How can they avoid harm with their business practices?

· Check out this article about giving done right to read more.  

Over the past few months, several professionals who help manage the philanthropy of prominent billionaires have come to me seeking advice. The ultra-wealthy are feeling the heat from critics who are challenging how they use their massive fortunes.

Most Americans know that two of the leading contenders for the Democratic nomination for president have proposed major tax increases on the billionaire class and are actively polarizing against billionaires on the campaign trail. That’s certainly part of what is creating an uncomfortable environment.

Fewer are aware, however, that prominent critics have been challenging the philanthropic giving of our nation’s most wealthy citizens.

One of those critics, Anand Giridharadas, has pointed out that many billionaires use their philanthropy to deflect potential criticism about their harmful business practices in the hopes of avoiding tighter government regulation of their companies.

Other commentators, such as David Callahan, Rob Reich and Gara LaMarche, have expressed concerns about the outsized influence billionaire philanthropy facilitates on our democracy. These critiques of billionaire philanthropy are also part of the prickly milieu that has prompted professionals to seek my advice.

Read the full article about philanthropic giving of billionaires by Aaron Dorfman at Forbes.