Five Attributes of Great Philanthropists

There have been many great philanthropists throughout the history of the country, and when you look back at them all, it is apparent that they all of them have certain characteristics in common. The following are five of these characteristics.

Philanthropists often begin as entrepreneurs

Philanthropists accumulate great wealth during their lifetime, and they often start with very little wealth in their family. Although they were not necessarily poor, they began life with much less wealth than they accumulated.

Philanthropists believe in giving back

Often the philanthropist, who has achieved great wealth, understands that he or she has been fortunate. Although hard work was a large component of their success, there are many people who helped the entrepreneur succeed in life. Now, during retirement years, the philanthropist has a strong desire to give back and become one of those important people who can help young people succeed the same way he or she was able to succeed.

Philanthropists have strong beliefs

Sometimes these beliefs are religious, while with other entrepreneurs it is simply beliefs they have had throughout their lives. During the course of their wealth building, they have certain core beliefs that have sustained them and have been integral to the success they have achieved in life. These beliefs manifest themselves in the way they give their wealth away. One common belief among philanthropists is a strong belief in education. Philanthropists usually devote some of their gifts to one or more areas of education.

Philanthropists take an active role in gift giving

This would seem like something obvious, but the truth is that many foundations have a staff that looks after the investments and reviews applications for grants. The great philanthropists will take an active role in deciding how the money is granted, and who specifically will get the money. This is consistent with the strong beliefs that great philanthropists have. They want to make sure their money is going to a cause that is a part of their beliefs.

Philanthropists have a focus on the grants they provide

Some philanthropists will have a single area that their wealth is focused on, while others may have two or three. Seldom will you see a great philanthropist spread his or her donations around too thinly. There is an attempt to get the most out of the grant money. Philanthropists see these gifts as an investment in which the returns are measured, not in dollars, but in an increase in benefit to society.

There are many examples of great philanthropists in history as well as a few that are alive today. One example of a great philanthropist today is Robert Rosenkranz, who provides funding for many projects through his Rosenkranz Foundation.

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