{
  "id": 15173984,
  "title": "In nearly 2 decades of leading philanthropy at the Milken Institute, I’ve never seen a tidal wave like the one that’s coming",
  "url": "https://urgent.news/2026/10/17/in-nearly-2-decades-of-leading-philanthropy-at-the-milken-institute",
  "topic": "finance",
  "section": "Finance & Markets",
  "published": "2026-10-17T10:00:00.000Z",
  "source": {
    "name": "Fortune",
    "slug": "fortune",
    "url": "https://fortune.com/2026/10/17/philanthropy-third-wave-spacex-anthropic-openai-milken-institute/"
  },
  "original_language": "en",
  "account": "The philanthropic landscape is on the brink of a monumental shift, with the potential to reshape society's most critical challenges. In recent years, the tech industry's rapid growth, particularly in the realm of artificial intelligence, has resulted in unprecedented wealth creation. In 2026, two leading AI laboratories, Anthropic and OpenAI, are expected to embark on their initial public offerings (IPOs), each projected to achieve valuations of at least $1 trillion. This surge in wealth is poised to generate an additional $37 billion annually for the philanthropy sector.\n\nAs a seasoned philanthropist with nearly two decades of experience at the Milken Institute, I have witnessed the transformative power of strategic giving firsthand. The recent rise in philanthropic potential, coupled with the immense resources at hand, presents a unique opportunity to tackle some of the world's most pressing issues. However, this wealth cannot be squandered; it must be deployed strategically to yield tangible, positive change.\n\nTo truly harness this new philanthropic capital, it is essential to establish a clear identity that aligns with one's core values. Engaging in philanthropy should begin with a deep understanding of the pressing problems at hand, such as the annual hunger gap of $33 billion and the plastic pollution crisis of $50 billion. Rather than attempting to solve these challenges with isolated interventions, a systems-based approach is crucial. This entails fostering novel partnerships, advocating for policy changes, raising awareness, and investing in innovative commercial solutions.\n\nThe philanthropic journey can be isolating, but there is strength in community. Giving circles, which have tripled in number since 2016, offer a valuable platform for philanthropists from diverse backgrounds to connect, share insights, and collaborate on pooled resources. At the Milken Institute, we actively encourage this level of engagement, recognizing the potential for collective impact.\n\nIt is important to dispel the notion that philanthropy is merely about garnering positive publicity. True philanthropy requires intentionality and a commitment to making a tangible difference in the world. The success of this new wave of philanthropy hinges on the courage, curiosity, and visionary mindset of those who will be its beneficiaries. By embracing this historic moment with purpose and determination, we can channel this unprecedented wealth towards building a better future for all.",
  "summary": "It could be the tide that lifts society’s most important boats, but it will take understanding the currents, careful navigation, courage, and community.",
  "key_points": [],
  "editors_take": null,
  "illustration": null,
  "coverage": {
    "outlets": 1,
    "also_reported_by": []
  },
  "ai_generated": true,
  "disclaimer": "Summaries, key points and the editor’s take are written by software from other outlets’ reporting and may contain errors — always check the linked original."
}