Yeah agreed. You basically see small time donations, or boomers once they have their $50B+ pile of money pledging to give it away at death. Not a lot of big incremental giving in between by $100M-$1B class.

I mean Gates is doing good work on poverty & global health for sure, but hes quite the exception.

You don't see the durable institutions like new universities being setup like after the gilded age. Not sure if its a tax code thing or what.

One thought I've had, living in NYC, is that there are just businesses structured to take every incremental dollar out of you whether you are worth $0/$100K/$100M/$100B now. $100M condos in 5 different cities, $1M supercars, private jets, blade chopper from Manhattan to the jet, just so many ways to part fools from their cash.

For context, David Rockefeller's old NYC townhouse, which he lived in for 70 years, was for sale, post-renovation, for $50M or so. Rockefeller name synonymous with old money wealth.

These days though, a $50M apartment might not even crack the top 10 sales annually in 2020s NYC. New money is also hot money by comparison.. I really do think our vintage of wealthy are that much more rapacious.