Google’s Larry Page gave $400 million in Christmas donations. Not a penny went straight to charity.
▻https://www.vox.com/recode/2019/12/18/21010108/larry-page-philanthropy-foundation-donor-advised-fund-christmas
There was just one problem, buried deep in tax records: None of this $400 million donated by his philanthropy, the Carl Victor Page Memorial Foundation, was actually going directly to charities. And these gifts, as for many donors, were not inspired by holiday cheer — but likely by an end-of-year deadline that incentivizes donors to effectively skirt the few rules that are meant to hold charitable foundations like Page’s accountable.