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href="https://ba.wikipedia.org/wiki/%D0%92%D0%B5%D0%BD%D1%87%D1%83%D1%80_%D1%84%D0%B8%D0%BB%D0%B0%D0%BD%D1%82%D1%80%D0%BE%D0%BF%D0%B8%D1%8F%D2%BB%D1%8B" title="Венчур филантропияһы – Bashkir" lang="ba" hreflang="ba" data-title="Венчур филантропияһы" data-language-autonym="Башҡортса" data-language-local-name="Bashkir" class="interlanguage-link-target"><span>Башҡортса</span></a></li><li class="interlanguage-link interwiki-de mw-list-item"><a href="https://de.wikipedia.org/wiki/Venture_Philanthropie" title="Venture Philanthropie – German" lang="de" hreflang="de" data-title="Venture Philanthropie" data-language-autonym="Deutsch" data-language-local-name="German" class="interlanguage-link-target"><span>Deutsch</span></a></li><li class="interlanguage-link interwiki-et mw-list-item"><a href="https://et.wikipedia.org/wiki/Strateegiline_filantroopia" title="Strateegiline filantroopia – Estonian" lang="et" hreflang="et" data-title="Strateegiline filantroopia" data-language-autonym="Eesti" data-language-local-name="Estonian" class="interlanguage-link-target"><span>Eesti</span></a></li><li class="interlanguage-link interwiki-fr mw-list-item"><a href="https://fr.wikipedia.org/wiki/Venture_philanthropie" title="Venture philanthropie – French" lang="fr" hreflang="fr" data-title="Venture philanthropie" data-language-autonym="Français" data-language-local-name="French" class="interlanguage-link-target"><span>Français</span></a></li><li class="interlanguage-link interwiki-uz mw-list-item"><a href="https://uz.wikipedia.org/wiki/Venchur_filantropiyasi" title="Venchur filantropiyasi – Uzbek" lang="uz" hreflang="uz" data-title="Venchur filantropiyasi" data-language-autonym="Oʻzbekcha / ўзбекча" data-language-local-name="Uzbek" class="interlanguage-link-target"><span>Oʻzbekcha / ўзбекча</span></a></li><li class="interlanguage-link interwiki-ru mw-list-item"><a href="https://ru.wikipedia.org/wiki/%D0%92%D0%B5%D0%BD%D1%87%D1%83%D1%80%D0%BD%D0%B0%D1%8F_%D1%84%D0%B8%D0%BB%D0%B0%D0%BD%D1%82%D1%80%D0%BE%D0%BF%D0%B8%D1%8F" title="Венчурная филантропия – Russian" lang="ru" hreflang="ru" data-title="Венчурная филантропия" data-language-autonym="Русский" data-language-local-name="Russian" class="interlanguage-link-target"><span>Русский</span></a></li> </ul> <div class="after-portlet after-portlet-lang"><span class="wb-langlinks-edit wb-langlinks-link"><a href="https://www.wikidata.org/wiki/Special:EntityPage/Q1272356#sitelinks-wikipedia" title="Edit interlanguage links" class="wbc-editpage">Edit links</a></span></div> </div> </div> </div> </header> <div class="vector-page-toolbar"> <div class="vector-page-toolbar-container"> <div id="left-navigation"> <nav aria-label="Namespaces"> <div id="p-associated-pages" class="vector-menu vector-menu-tabs mw-portlet mw-portlet-associated-pages" > <div class="vector-menu-content"> <ul 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href="/wiki/Value_(economics)" title="Value (economics)">Value</a></li> <li><a href="/wiki/Wage_labour" title="Wage labour">Wage labour</a></li></ul></div></div></td> </tr><tr><td class="sidebar-content"> <div class="sidebar-list mw-collapsible mw-collapsed"><div class="sidebar-list-title" style="background:#efefef;text-align:left;;color: var(--color-base)">Economic systems</div><div class="sidebar-list-content mw-collapsible-content hlist"> <ul><li><a href="/wiki/Anglo-Saxon_capitalism" class="mw-redirect" title="Anglo-Saxon capitalism">Anglo-Saxon</a></li> <li><a href="/wiki/Authoritarian_capitalism" title="Authoritarian capitalism">Authoritarian</a></li> <li><a href="/wiki/Corporate_capitalism" title="Corporate capitalism">Corporate</a></li> <li><a href="/wiki/Dirigisme" title="Dirigisme">Dirigist</a></li> <li><a href="/wiki/Free_market#General_principles" title="Free market">Free-market</a></li> <li><a href="/wiki/Humanistic_capitalism" title="Humanistic capitalism">Humanistic</a></li> <li><i><a href="/wiki/Laissez-faire_capitalism" class="mw-redirect" title="Laissez-faire capitalism">Laissez-faire</a></i></li> <li><a href="/wiki/Liberal_capitalism" class="mw-redirect" title="Liberal capitalism">Liberal</a></li> <li><a href="/wiki/Libertarian_capitalism" class="mw-redirect" title="Libertarian capitalism">Libertarian</a></li> <li><a href="/wiki/Market_capitalism" class="mw-redirect" title="Market capitalism">Market</a></li> <li><a href="/wiki/Mercantilism" title="Mercantilism">Mercantilist</a></li> <li><a href="/wiki/Mixed_capitalism" class="mw-redirect" title="Mixed capitalism">Mixed</a></li> <li><a href="/wiki/State_monopoly_capitalism" title="State monopoly capitalism">Monopoly</a></li> <li><a href="/wiki/National_capitalism" class="mw-redirect" title="National capitalism">National</a></li> <li><a href="/wiki/Neoliberalism" title="Neoliberalism">Neoliberal</a></li> <li><a href="/wiki/Nordic_capitalism" class="mw-redirect" title="Nordic capitalism">Nordic</a></li> <li><a href="/wiki/Anarcho-capitalism" title="Anarcho-capitalism">Private</a></li> <li><a href="/wiki/Raw_capitalism" class="mw-redirect" title="Raw capitalism">Raw</a></li> <li><a href="/wiki/Regulated_market" title="Regulated market">Regulated market</a></li> <li><a href="/wiki/Regulatory_capitalism" title="Regulatory capitalism">Regulatory</a></li> <li><a href="/wiki/Rhine_capitalism" class="mw-redirect" title="Rhine capitalism">Rhine</a></li> <li><a href="/wiki/Social_market_economy" title="Social market economy">Social</a></li> <li><a href="/wiki/State_capitalism" title="State capitalism">State</a></li> <li><a href="/wiki/State-sponsored_capitalism" class="mw-redirect" title="State-sponsored capitalism">State-sponsored</a></li> <li><a href="/wiki/Welfare_capitalism" title="Welfare capitalism">Welfare</a></li></ul></div></div></td> </tr><tr><td class="sidebar-content"> <div class="sidebar-list mw-collapsible mw-collapsed"><div class="sidebar-list-title" style="background:#efefef;text-align:left;;color: var(--color-base)">Economic theories</div><div class="sidebar-list-content mw-collapsible-content hlist"> <ul><li><a href="/wiki/American_School_(economics)" title="American School (economics)">American</a></li> <li><a href="/wiki/Austrian_School" class="mw-redirect" title="Austrian School">Austrian</a></li> <li><a href="/wiki/Chartalism" title="Chartalism">Chartalism</a> <ul><li><a href="/wiki/Modern_Monetary_Theory" class="mw-redirect" title="Modern Monetary Theory">MMT</a></li></ul></li> <li><a href="/wiki/Chicago_school_of_economics" title="Chicago school of economics">Chicago</a></li> <li><a href="/wiki/Classical_economics" title="Classical economics">Classical</a></li> <li><a href="/wiki/Institutional_economics" title="Institutional economics">Institutional</a></li> <li><a href="/wiki/Keynesian_economics" title="Keynesian economics">Keynesian</a> <ul><li><a href="/wiki/Neo-Keynesian_economics" class="mw-redirect" title="Neo-Keynesian economics">Neo-</a></li> <li><a href="/wiki/New_Keynesian_economics" title="New Keynesian economics">New</a></li> <li><a href="/wiki/Post-Keynesian_economics" title="Post-Keynesian economics">Post-</a></li></ul></li> <li><a href="/wiki/Market_monetarism" title="Market monetarism">Market monetarism</a></li> <li><a href="/wiki/Critique_of_political_economy" title="Critique of political economy">Critique of political economy</a></li> <li><a href="/wiki/Critique_of_work" title="Critique of work">Critique of work</a></li> <li><a href="/wiki/Marxian_economics" title="Marxian economics">Marxist</a></li> <li><a href="/wiki/Monetarism" title="Monetarism">Monetarist</a></li> <li><a href="/wiki/Neoclassical_economics" title="Neoclassical economics">Neoclassical</a></li> <li><a href="/wiki/New_institutional_economics" title="New institutional economics">New institutional</a></li> <li><a href="/wiki/Supply-side_economics" title="Supply-side economics">Supply-side</a></li></ul></div></div></td> </tr><tr><td class="sidebar-content"> <div class="sidebar-list mw-collapsible mw-collapsed"><div class="sidebar-list-title" style="background:#efefef;text-align:left;;color: var(--color-base)">Origins</div><div class="sidebar-list-content mw-collapsible-content hlist"> <ul><li><a href="/wiki/Age_of_Enlightenment" title="Age of Enlightenment">Age of Enlightenment</a></li> <li><a href="/wiki/Capitalism_and_Islam" title="Capitalism and Islam">Capitalism and Islam</a></li> <li><a href="/wiki/Commercial_Revolution" class="mw-redirect" title="Commercial Revolution">Commercial Revolution</a></li> <li><a href="/wiki/Feudalism" title="Feudalism">Feudalism</a></li> <li><a href="/wiki/Industrial_Revolution" title="Industrial Revolution">Industrial Revolution</a></li> <li><a href="/wiki/Mercantilism" title="Mercantilism">Mercantilism</a></li> <li><a href="/wiki/Primitive_accumulation_of_capital" title="Primitive accumulation of capital">Primitive accumulation</a></li> <li><a href="/wiki/Physiocracy" title="Physiocracy">Physiocracy</a></li> <li><a href="/wiki/Simple_commodity_production" title="Simple commodity production">Simple commodity production</a></li></ul></div></div></td> </tr><tr><td class="sidebar-content"> <div class="sidebar-list mw-collapsible mw-collapsed"><div class="sidebar-list-title" style="background:#efefef;text-align:left;;color: var(--color-base)">Development</div><div class="sidebar-list-content mw-collapsible-content hlist"> <ul><li><a href="/wiki/Advanced_capitalism" title="Advanced capitalism">Advanced</a></li> <li><a href="/wiki/Consumer_capitalism" title="Consumer capitalism">Consumer</a></li> <li><a href="/wiki/Community_capitalism" title="Community capitalism">Community</a></li> <li><a href="/wiki/Corporate_capitalism" title="Corporate capitalism">Corporate</a></li> <li><a href="/wiki/Crony_capitalism" title="Crony capitalism">Crony</a></li> <li><a href="/wiki/Finance_capitalism" title="Finance capitalism">Finance</a></li> <li><a href="/wiki/Global_capitalism" class="mw-redirect" title="Global capitalism">Global</a></li> <li><a href="/wiki/Authoritarian_capitalism" title="Authoritarian capitalism">Illiberal</a></li> <li><a href="/wiki/Late_capitalism" title="Late capitalism">Late</a></li> <li><a href="/wiki/Capitalist_mode_of_production_(Marxist_theory)" title="Capitalist mode of production (Marxist theory)">Marxist</a></li> <li><a href="/wiki/Merchant_capitalism" title="Merchant capitalism">Merchant</a></li> <li><a href="/wiki/Progressive_capitalism" title="Progressive capitalism">Progressive</a></li> <li><a href="/wiki/Rentier_capitalism" title="Rentier capitalism">Rentier</a></li> <li><a href="/wiki/State_monopoly_capitalism" title="State monopoly capitalism">State monopoly</a></li> <li><a href="/wiki/Technocapitalism" title="Technocapitalism">Technological</a></li></ul></div></div></td> </tr><tr><td class="sidebar-content"> <div class="sidebar-list mw-collapsible mw-collapsed"><div class="sidebar-list-title" style="background:#efefef;text-align:left;;color: var(--color-base)">Intellectuals</div><div class="sidebar-list-content mw-collapsible-content hlist"> <ul><li><a href="/wiki/Adam_Smith" title="Adam Smith">Smith</a></li> <li><a href="/wiki/John_Stuart_Mill" title="John Stuart Mill">Mill</a></li> <li><a href="/wiki/David_Ricardo" title="David Ricardo">Ricardo</a></li> <li><a href="/wiki/Thomas_Robert_Malthus" title="Thomas Robert Malthus">Malthus</a></li> <li><a href="/wiki/Jean-Baptiste_Say" title="Jean-Baptiste Say">Say</a></li> <li><a href="/wiki/Karl_Marx" title="Karl Marx">Marx</a></li> <li><a href="/wiki/Milton_Friedman" title="Milton Friedman">Friedman</a></li> <li><a href="/wiki/Friedrich_Hayek" title="Friedrich Hayek">Hayek</a></li> <li><a href="/wiki/John_Maynard_Keynes" title="John Maynard Keynes">Keynes</a></li> <li><a href="/wiki/Alfred_Marshall" title="Alfred Marshall">Marshall</a></li> <li><a href="/wiki/Vilfredo_Pareto" title="Vilfredo Pareto">Pareto</a></li> <li><a href="/wiki/L%C3%A9on_Walras" title="Léon Walras">Walras</a></li> <li><a href="/wiki/Ludwig_von_Mises" title="Ludwig von Mises">von Mises</a></li> <li><a href="/wiki/Ayn_Rand" title="Ayn Rand">Rand</a></li> <li><a href="/wiki/Murray_Rothbard" title="Murray Rothbard">Rothbard</a></li> <li><a href="/wiki/Joseph_Schumpeter" title="Joseph Schumpeter">Schumpeter</a></li> <li><a href="/wiki/Thorstein_Veblen" title="Thorstein Veblen">Veblen</a></li> <li><a href="/wiki/Richard_M._Weaver" title="Richard M. Weaver">Weaver</a></li> <li><a href="/wiki/Max_Weber" title="Max Weber">Weber</a></li> <li><a href="/wiki/Ronald_Coase" title="Ronald Coase">Coase</a></li></ul></div></div></td> </tr><tr><td class="sidebar-content"> <div class="sidebar-list mw-collapsible mw-collapsed"><div class="sidebar-list-title" style="background:#efefef;text-align:left;;color: var(--color-base)">Related topics</div><div class="sidebar-list-content mw-collapsible-content hlist"> <ul><li><a href="/wiki/Anti-capitalism" title="Anti-capitalism">Anti-capitalism</a></li> <li><a href="/wiki/Capitalist_propaganda" title="Capitalist propaganda">Capitalist propaganda</a></li> <li><a href="/wiki/Capitalist_realism" title="Capitalist realism">Capitalist realism</a></li> <li><a href="/wiki/Capitalist_state" title="Capitalist state">Capitalist state</a></li> <li><a href="/wiki/Consumerism" title="Consumerism">Consumerism</a></li> <li><a href="/wiki/Crisis_theory" title="Crisis theory">Crisis theory</a></li> <li><a href="/wiki/Criticism_of_capitalism" title="Criticism of capitalism">Criticism of capitalism</a></li> <li><a href="/wiki/Critique_of_political_economy" title="Critique of political economy">Critique of political economy</a></li> <li><a href="/wiki/Critique_of_work" title="Critique of work">Critique of work</a></li> <li><a href="/wiki/Cronyism" title="Cronyism">Cronyism</a></li> <li><a href="/wiki/Culture_of_capitalism" title="Culture of capitalism">Culture of capitalism</a></li> <li><a href="/wiki/Evergreening" title="Evergreening">Evergreening</a></li> <li><a href="/wiki/Exploitation_of_labour" title="Exploitation of labour">Exploitation of labour</a></li> <li><a href="/wiki/Globalization" title="Globalization">Globalization</a></li> <li><a href="/wiki/History_of_capitalism" title="History of capitalism">History</a></li> <li><a href="/wiki/History_of_capitalist_theory" title="History of capitalist theory">History of theory</a></li> <li><a href="/wiki/Market_economy" title="Market economy">Market economy</a></li> <li><a href="/wiki/Periodizations_of_capitalism" title="Periodizations of capitalism">Periodizations of capitalism</a></li> <li><a href="/wiki/Perspectives_on_capitalism" class="mw-redirect" title="Perspectives on capitalism">Perspectives on capitalism</a></li> <li><a href="/wiki/Post-capitalism" title="Post-capitalism">Post-capitalism</a></li> <li><a href="/wiki/Speculation" title="Speculation">Speculation</a></li> <li><a href="/wiki/Spontaneous_order" title="Spontaneous order">Spontaneous order</a></li> <li><a class="mw-selflink selflink">Venture philanthropy</a></li> <li><a href="/wiki/Wage_slavery" title="Wage slavery">Wage slavery</a></li></ul></div></div></td> </tr><tr><td class="sidebar-content"> <div class="sidebar-list mw-collapsible mw-collapsed"><div class="sidebar-list-title" style="background:#efefef;text-align:left;;color: var(--color-base)">Ideologies</div><div class="sidebar-list-content mw-collapsible-content hlist"> <ul><li><a href="/wiki/Anarcho-capitalism" title="Anarcho-capitalism">Anarcho</a></li> <li><a href="/wiki/Authoritarian_capitalism" title="Authoritarian capitalism">Authoritarian</a></li> <li><a href="/wiki/Classical_liberalism" title="Classical liberalism">Classical liberalism</a></li> <li><a href="/wiki/Democratic_capitalism" title="Democratic capitalism">Democratic</a></li> <li><a href="/wiki/Dirigisme" title="Dirigisme">Dirigisme</a></li> <li><a href="/wiki/Eco-capitalism" title="Eco-capitalism">Eco</a></li> <li><a href="/wiki/Humanistic_capitalism" title="Humanistic capitalism">Humanistic</a></li> <li><a href="/wiki/Inclusive_capitalism" title="Inclusive capitalism">Inclusive</a></li> <li><a href="/wiki/Liberal_capitalism" class="mw-redirect" title="Liberal capitalism">Liberal</a></li> <li><a href="/wiki/Liberalism" title="Liberalism">Liberalism</a></li> <li><a href="/wiki/Libertarian_capitalism" class="mw-redirect" title="Libertarian capitalism">Libertarian</a></li> <li><a href="/wiki/Neo-Capitalism" class="mw-redirect" title="Neo-Capitalism">Neo</a></li> <li><a href="/wiki/Neoliberalism" title="Neoliberalism">Neoliberalism</a></li> <li><a href="/wiki/Objectivism" title="Objectivism">Objectivism</a></li> <li><a href="/wiki/Ordoliberalism" title="Ordoliberalism">Ordoliberalism</a></li> <li><a href="/wiki/Privatism" title="Privatism">Privatism</a></li> <li><a href="/wiki/Right-libertarianism" title="Right-libertarianism">Right-libertarianism</a></li> <li><a href="/wiki/Third_Way" title="Third Way">Third Way</a></li></ul></div></div></td> </tr><tr><td class="sidebar-below plainlist"> <ul><li><span class="nowrap"><span class="noviewer" typeof="mw:File"><a href="/wiki/File:Capitalismlogo.svg" class="mw-file-description"><img alt="icon" src="//upload.wikimedia.org/wikipedia/commons/thumb/2/2f/Capitalismlogo.svg/16px-Capitalismlogo.svg.png" decoding="async" width="16" height="15" class="mw-file-element" srcset="//upload.wikimedia.org/wikipedia/commons/thumb/2/2f/Capitalismlogo.svg/24px-Capitalismlogo.svg.png 1.5x, //upload.wikimedia.org/wikipedia/commons/thumb/2/2f/Capitalismlogo.svg/32px-Capitalismlogo.svg.png 2x" data-file-width="959" data-file-height="912" /></a></span> </span><a href="/wiki/Portal:Capitalism" title="Portal:Capitalism">Capitalism portal</a></li> <li><span class="nowrap"><span class="noviewer" typeof="mw:File"><a href="/wiki/File:Emblem-money.svg" class="mw-file-description"><img alt="icon" src="//upload.wikimedia.org/wikipedia/commons/thumb/f/f3/Emblem-money.svg/16px-Emblem-money.svg.png" decoding="async" width="16" height="16" class="mw-file-element" srcset="//upload.wikimedia.org/wikipedia/commons/thumb/f/f3/Emblem-money.svg/24px-Emblem-money.svg.png 1.5x, //upload.wikimedia.org/wikipedia/commons/thumb/f/f3/Emblem-money.svg/32px-Emblem-money.svg.png 2x" data-file-width="48" data-file-height="48" /></a></span> </span><a href="/wiki/Portal:Business" title="Portal:Business">Business portal</a></li></ul></td></tr><tr><td class="sidebar-navbar"><link rel="mw-deduplicated-inline-style" href="mw-data:TemplateStyles:r1129693374"><style data-mw-deduplicate="TemplateStyles:r1239400231">.mw-parser-output .navbar{display:inline;font-size:88%;font-weight:normal}.mw-parser-output .navbar-collapse{float:left;text-align:left}.mw-parser-output .navbar-boxtext{word-spacing:0}.mw-parser-output .navbar ul{display:inline-block;white-space:nowrap;line-height:inherit}.mw-parser-output .navbar-brackets::before{margin-right:-0.125em;content:"[ "}.mw-parser-output .navbar-brackets::after{margin-left:-0.125em;content:" ]"}.mw-parser-output .navbar li{word-spacing:-0.125em}.mw-parser-output .navbar a>span,.mw-parser-output .navbar a>abbr{text-decoration:inherit}.mw-parser-output .navbar-mini abbr{font-variant:small-caps;border-bottom:none;text-decoration:none;cursor:inherit}.mw-parser-output .navbar-ct-full{font-size:114%;margin:0 7em}.mw-parser-output .navbar-ct-mini{font-size:114%;margin:0 4em}html.skin-theme-clientpref-night .mw-parser-output .navbar li a abbr{color:var(--color-base)!important}@media(prefers-color-scheme:dark){html.skin-theme-clientpref-os .mw-parser-output .navbar li a abbr{color:var(--color-base)!important}}@media print{.mw-parser-output .navbar{display:none!important}}</style><div class="navbar plainlinks hlist navbar-mini"><ul><li class="nv-view"><a href="/wiki/Template:Capitalism_sidebar" title="Template:Capitalism sidebar"><abbr title="View this template">v</abbr></a></li><li class="nv-talk"><a href="/wiki/Template_talk:Capitalism_sidebar" title="Template talk:Capitalism sidebar"><abbr title="Discuss this template">t</abbr></a></li><li class="nv-edit"><a href="/wiki/Special:EditPage/Template:Capitalism_sidebar" title="Special:EditPage/Template:Capitalism sidebar"><abbr title="Edit this template">e</abbr></a></li></ul></div></td></tr></tbody></table> <p><b>Venture philanthropy</b> is a type of <a href="/wiki/Impact_investment" class="mw-redirect" title="Impact investment">impact investment</a> that takes concepts and techniques from <a href="/wiki/Venture_capital" title="Venture capital">venture capital</a> finance and business management and applies them to achieving <a href="/wiki/Philanthropy" title="Philanthropy">philanthropic</a> goals.<sup id="cite_ref-1" class="reference"><a href="#cite_note-1"><span class="cite-bracket">[</span>1<span class="cite-bracket">]</span></a></sup><sup id="cite_ref-Leborgne‐Bonassié_2019_349–357_2-0" class="reference"><a href="#cite_note-Leborgne‐Bonassié_2019_349–357-2"><span class="cite-bracket">[</span>2<span class="cite-bracket">]</span></a></sup> The term was first used in 1969 by <a href="/wiki/John_D._Rockefeller_III" title="John D. Rockefeller III">John D. Rockefeller III</a> to describe an imaginative and risk-taking approach to philanthropy that may be undertaken by charitable organizations.<sup id="cite_ref-3" class="reference"><a href="#cite_note-3"><span class="cite-bracket">[</span>3<span class="cite-bracket">]</span></a></sup> </p> <meta property="mw:PageProp/toc" /> <div class="mw-heading mw-heading2"><h2 id="Examples">Examples</h2><span class="mw-editsection"><span class="mw-editsection-bracket">[</span><a href="/w/index.php?title=Venture_philanthropy&action=edit&section=1" title="Edit section: Examples"><span>edit</span></a><span class="mw-editsection-bracket">]</span></span></div> <p>For example, in 2000 The <a href="/wiki/Chicago_Public_Education_Fund" class="mw-redirect" title="Chicago Public Education Fund">Chicago Public Education Fund</a> became the only venture philanthropy in the United States focused on a single urban school district, which served as a catalyst and strategic investment partner for Mayor Richard M. Daley and four Chicago Public Schools (CPS) administrations.<sup id="cite_ref-4" class="reference"><a href="#cite_note-4"><span class="cite-bracket">[</span>4<span class="cite-bracket">]</span></a></sup> Other examples of this type of venture philanthropy are <a href="/wiki/New_Profit_Inc." title="New Profit Inc.">New Profit Inc.</a>, the <a href="/wiki/Robin_Hood_Foundation" title="Robin Hood Foundation">Robin Hood Foundation</a>, <a href="/wiki/Tipping_Point_Community" title="Tipping Point Community">Tipping Point Community</a>, <a href="/w/index.php?title=Cure_Alzheimer%27s_Fund&action=edit&redlink=1" class="new" title="Cure Alzheimer's Fund (page does not exist)">Cure Alzheimer's Fund</a>, <a href="/wiki/The_Redstone_Acceleration_%26_Innovation_Network" title="The Redstone Acceleration & Innovation Network">The Redstone Acceleration & Innovation Network</a> (TRAIN) initiative from <a href="/wiki/FasterCures" class="mw-redirect" title="FasterCures">FasterCures</a>,<sup id="cite_ref-5" class="reference"><a href="#cite_note-5"><span class="cite-bracket">[</span>5<span class="cite-bracket">]</span></a></sup> the Asian Venture Philanthropy Network (AVPN), Social Ventures Australia (SVA) in Australia,<sup id="cite_ref-6" class="reference"><a href="#cite_note-6"><span class="cite-bracket">[</span>6<span class="cite-bracket">]</span></a></sup> the danone communities,<sup id="cite_ref-Leborgne‐Bonassié_2019_349–357_2-1" class="reference"><a href="#cite_note-Leborgne‐Bonassié_2019_349–357-2"><span class="cite-bracket">[</span>2<span class="cite-bracket">]</span></a></sup> and the European Venture Philanthropy Association (EVPA). </p> <div class="mw-heading mw-heading3"><h3 id="Cystic_Fibrosis_Foundation">Cystic Fibrosis Foundation</h3><span class="mw-editsection"><span class="mw-editsection-bracket">[</span><a href="/w/index.php?title=Venture_philanthropy&action=edit&section=2" title="Edit section: Cystic Fibrosis Foundation"><span>edit</span></a><span class="mw-editsection-bracket">]</span></span></div> <p>In the late 1990s the Bethesda-based <a href="/wiki/Cystic_Fibrosis_Foundation" title="Cystic Fibrosis Foundation">Cystic Fibrosis Foundation</a> (CFF), wanting to take more direct action toward finding treatments for <a href="/wiki/Cystic_fibrosis" title="Cystic fibrosis">cystic fibrosis</a> (CF) beyond its traditional approach of funding <a href="/wiki/Basic_research" title="Basic research">basic research</a> at universities, invested in a small California <a href="/wiki/Biotechnology" title="Biotechnology">biotechnology</a> firm to help fund the discovery and development of the drug that twenty years later (January 2012) was approved as <a href="/wiki/Ivacaftor" title="Ivacaftor">Kalydeco</a>.<sup id="cite_ref-Dennis_WP_2015_7-0" class="reference"><a href="#cite_note-Dennis_WP_2015-7"><span class="cite-bracket">[</span>7<span class="cite-bracket">]</span></a></sup><sup id="cite_ref-Straight_8-0" class="reference"><a href="#cite_note-Straight-8"><span class="cite-bracket">[</span>8<span class="cite-bracket">]</span></a></sup> Unlike other drugs that were available that just address symptoms of CF, the drug candidate was intended to address the underlying cause of CF.<sup id="cite_ref-Dennis_WP_2015_7-1" class="reference"><a href="#cite_note-Dennis_WP_2015-7"><span class="cite-bracket">[</span>7<span class="cite-bracket">]</span></a></sup> The company in which CFF invested was <a href="/wiki/Aurora_Biosciences" title="Aurora Biosciences">Aurora Biosciences</a>; CFF provided $30 million for Aurora to identify and develop up to three drug candidates.<sup id="cite_ref-Science_9-0" class="reference"><a href="#cite_note-Science-9"><span class="cite-bracket">[</span>9<span class="cite-bracket">]</span></a></sup><sup id="cite_ref-Bioprocess_10-0" class="reference"><a href="#cite_note-Bioprocess-10"><span class="cite-bracket">[</span>10<span class="cite-bracket">]</span></a></sup> The unusual nature of the arrangement was widely noted.<sup id="cite_ref-Straight_8-1" class="reference"><a href="#cite_note-Straight-8"><span class="cite-bracket">[</span>8<span class="cite-bracket">]</span></a></sup><sup id="cite_ref-Science_9-1" class="reference"><a href="#cite_note-Science-9"><span class="cite-bracket">[</span>9<span class="cite-bracket">]</span></a></sup><sup id="cite_ref-Bioprocess_10-1" class="reference"><a href="#cite_note-Bioprocess-10"><span class="cite-bracket">[</span>10<span class="cite-bracket">]</span></a></sup><sup id="cite_ref-11" class="reference"><a href="#cite_note-11"><span class="cite-bracket">[</span>11<span class="cite-bracket">]</span></a></sup><sup id="cite_ref-Robb_12-0" class="reference"><a href="#cite_note-Robb-12"><span class="cite-bracket">[</span>12<span class="cite-bracket">]</span></a></sup> </p><p>In 2001, Aurora was acquired by <a href="/wiki/Vertex_Pharmaceuticals" title="Vertex Pharmaceuticals">Vertex Pharmaceuticals</a>,<sup id="cite_ref-NYTwindfall_13-0" class="reference"><a href="#cite_note-NYTwindfall-13"><span class="cite-bracket">[</span>13<span class="cite-bracket">]</span></a></sup> but CFF continued to fund development of the CF drug candidates. That funding eventually grew to $150 million,<sup id="cite_ref-NYTwindfall_13-1" class="reference"><a href="#cite_note-NYTwindfall-13"><span class="cite-bracket">[</span>13<span class="cite-bracket">]</span></a></sup> much of which was raised for the CFF by Joe O’Donnell, a Boston businessman whose son died of CF.<sup id="cite_ref-14" class="reference"><a href="#cite_note-14"><span class="cite-bracket">[</span>14<span class="cite-bracket">]</span></a></sup> </p><p>When Vertex started selling Kalydeco, it priced it at about $300,000 a year and promised to provide it free to anyone in the US who was uninsured or whose insurance would not cover it. It justified the price—one of the highest in the world for any drug—by explaining that on the one hand, that it can only treat about 4% of CF patients, or about 3,000 people worldwide; as it was only approved for adults and children six and older, there are only about 2,400 people eligible to receive it; with that few people, it needed a high price in order to pay for the research to create it as well as its other programs, which include a drug candidate that could treat many more people with CF. It also pointed out the strong efficacy of the drug, and laid out the costs of managing CF that would be saved for people that the drug could treat; those costs include repeated hospitalizations and lung transplants.<sup id="cite_ref-MIT_15-0" class="reference"><a href="#cite_note-MIT-15"><span class="cite-bracket">[</span>15<span class="cite-bracket">]</span></a></sup> </p><p>Nonetheless the high price led to sharp criticism of Vertex and the CFF.<sup id="cite_ref-Dennis_WP_2015_7-2" class="reference"><a href="#cite_note-Dennis_WP_2015-7"><span class="cite-bracket">[</span>7<span class="cite-bracket">]</span></a></sup><sup id="cite_ref-MIT_15-1" class="reference"><a href="#cite_note-MIT-15"><span class="cite-bracket">[</span>15<span class="cite-bracket">]</span></a></sup> Twenty-nine physicians and scientists working with people with cystic fibrosis wrote to the CEO of Vertex Pharmaceuticals to plead for lower prices.<sup id="cite_ref-Vertex_letter_2012_16-0" class="reference"><a href="#cite_note-Vertex_letter_2012-16"><span class="cite-bracket">[</span>16<span class="cite-bracket">]</span></a></sup> </p><p>CFF made the investment in exchange for a promise of royalties paid on sales of any drug it funded that made it to market; in 2014 it sold the future royalty stream to Royalty Pharma, a <a href="/wiki/Royalty_fund" title="Royalty fund">royalty fund</a> investment company, for $3.3 billion, and said that it would use the funds to invest yet more in research and clinical trials for cystic fibrosis treatments.<sup id="cite_ref-Robb_12-1" class="reference"><a href="#cite_note-Robb-12"><span class="cite-bracket">[</span>12<span class="cite-bracket">]</span></a></sup><sup id="cite_ref-NYTwindfall_13-2" class="reference"><a href="#cite_note-NYTwindfall-13"><span class="cite-bracket">[</span>13<span class="cite-bracket">]</span></a></sup> </p><p>In the course of working out the deal with Aurora in 2000, CFF included a clause in the agreement that allowed them to take control of the intellectual property if Aurora stopped developing any drug that had been discovered. CFF struck a similar agreement with the company, Altus Pharmaceuticals, to fund development of a recombinant enzyme that could treat pancreatic disease in people with cystic fibrosis. When Altus reported to CFF that it did not have funds to continue developing the drug, CFF seized control of the asset and eventually licensed it to Alnara Pharmaceuticals, which developed the drug further and was acquired by <a href="/wiki/Eli_Lilly" title="Eli Lilly">Eli Lilly</a> in 2010.<sup id="cite_ref-17" class="reference"><a href="#cite_note-17"><span class="cite-bracket">[</span>17<span class="cite-bracket">]</span></a></sup><sup id="cite_ref-18" class="reference"><a href="#cite_note-18"><span class="cite-bracket">[</span>18<span class="cite-bracket">]</span></a></sup> </p> <div class="mw-heading mw-heading2"><h2 id="Criticism_of_venture_philanthropy_in_education">Criticism of venture philanthropy in education</h2><span class="mw-editsection"><span class="mw-editsection-bracket">[</span><a href="/w/index.php?title=Venture_philanthropy&action=edit&section=3" title="Edit section: Criticism of venture philanthropy in education"><span>edit</span></a><span class="mw-editsection-bracket">]</span></span></div> <p>UW-Madison Professor Emeritus <a href="/wiki/Kenneth_Zeichner" title="Kenneth Zeichner">Kenneth Zeichner</a> wrote a paper criticizing the role of the NewSchools Venture Fund<sup id="cite_ref-19" class="reference"><a href="#cite_note-19"><span class="cite-bracket">[</span>19<span class="cite-bracket">]</span></a></sup> in bringing <a href="/wiki/Deregulation" title="Deregulation">deregulation</a> and <a href="/wiki/Market_economy" title="Market economy">market</a>-based practices into <a href="/wiki/Education_in_the_United_States" title="Education in the United States">schools in the US</a>.<sup id="cite_ref-20" class="reference"><a href="#cite_note-20"><span class="cite-bracket">[</span>20<span class="cite-bracket">]</span></a></sup> Lois Weiner writing in <i><a href="/wiki/Jacobin_(magazine)" title="Jacobin (magazine)">Jacobin</a></i> criticized teachers' unions for taking money from the <a href="/wiki/Gates_Foundation" class="mw-redirect" title="Gates Foundation">Gates Foundation</a>.<sup id="cite_ref-21" class="reference"><a href="#cite_note-21"><span class="cite-bracket">[</span>21<span class="cite-bracket">]</span></a></sup> Others have argued that venture philanthropy often suffers from a lack of accountability, with projects prioritized more for their measurable metrics than for genuine long-term change, leading to a cycle of publicity-driven initiatives, in particular in education, that fail to address the underlying systemic issues facing society.<sup id="cite_ref-22" class="reference"><a href="#cite_note-22"><span class="cite-bracket">[</span>22<span class="cite-bracket">]</span></a></sup> </p> <div class="mw-heading mw-heading2"><h2 id="See_also">See also</h2><span class="mw-editsection"><span class="mw-editsection-bracket">[</span><a href="/w/index.php?title=Venture_philanthropy&action=edit&section=4" title="Edit section: See also"><span>edit</span></a><span class="mw-editsection-bracket">]</span></span></div> <ul><li><a href="/wiki/Effective_altruism" title="Effective altruism">Effective altruism</a></li> <li><a href="/wiki/Impact_investment" class="mw-redirect" title="Impact investment">Impact investment</a></li> <li><a href="/wiki/Philanthrocapitalism" title="Philanthrocapitalism">Philanthrocapitalism</a></li></ul> <div class="mw-heading mw-heading2"><h2 id="Notes_and_references">Notes and references</h2><span class="mw-editsection"><span class="mw-editsection-bracket">[</span><a href="/w/index.php?title=Venture_philanthropy&action=edit&section=5" title="Edit section: Notes and references"><span>edit</span></a><span class="mw-editsection-bracket">]</span></span></div> <style data-mw-deduplicate="TemplateStyles:r1239543626">.mw-parser-output .reflist{margin-bottom:0.5em;list-style-type:decimal}@media screen{.mw-parser-output .reflist{font-size:90%}}.mw-parser-output .reflist .references{font-size:100%;margin-bottom:0;list-style-type:inherit}.mw-parser-output .reflist-columns-2{column-width:30em}.mw-parser-output .reflist-columns-3{column-width:25em}.mw-parser-output .reflist-columns{margin-top:0.3em}.mw-parser-output .reflist-columns ol{margin-top:0}.mw-parser-output .reflist-columns li{page-break-inside:avoid;break-inside:avoid-column}.mw-parser-output .reflist-upper-alpha{list-style-type:upper-alpha}.mw-parser-output .reflist-upper-roman{list-style-type:upper-roman}.mw-parser-output .reflist-lower-alpha{list-style-type:lower-alpha}.mw-parser-output .reflist-lower-greek{list-style-type:lower-greek}.mw-parser-output .reflist-lower-roman{list-style-type:lower-roman}</style><div class="reflist reflist-columns references-column-width" style="column-width: 30em;"> <ol class="references"> <li id="cite_note-1"><span class="mw-cite-backlink"><b><a href="#cite_ref-1">^</a></b></span> <span class="reference-text"><style data-mw-deduplicate="TemplateStyles:r1238218222">.mw-parser-output cite.citation{font-style:inherit;word-wrap:break-word}.mw-parser-output .citation q{quotes:"\"""\"""'""'"}.mw-parser-output .citation:target{background-color:rgba(0,127,255,0.133)}.mw-parser-output .id-lock-free.id-lock-free a{background:url("//upload.wikimedia.org/wikipedia/commons/6/65/Lock-green.svg")right 0.1em center/9px no-repeat}.mw-parser-output .id-lock-limited.id-lock-limited a,.mw-parser-output .id-lock-registration.id-lock-registration a{background:url("//upload.wikimedia.org/wikipedia/commons/d/d6/Lock-gray-alt-2.svg")right 0.1em center/9px no-repeat}.mw-parser-output .id-lock-subscription.id-lock-subscription a{background:url("//upload.wikimedia.org/wikipedia/commons/a/aa/Lock-red-alt-2.svg")right 0.1em center/9px no-repeat}.mw-parser-output .cs1-ws-icon a{background:url("//upload.wikimedia.org/wikipedia/commons/4/4c/Wikisource-logo.svg")right 0.1em center/12px no-repeat}body:not(.skin-timeless):not(.skin-minerva) .mw-parser-output .id-lock-free a,body:not(.skin-timeless):not(.skin-minerva) .mw-parser-output .id-lock-limited a,body:not(.skin-timeless):not(.skin-minerva) .mw-parser-output .id-lock-registration a,body:not(.skin-timeless):not(.skin-minerva) .mw-parser-output .id-lock-subscription a,body:not(.skin-timeless):not(.skin-minerva) .mw-parser-output .cs1-ws-icon a{background-size:contain;padding:0 1em 0 0}.mw-parser-output .cs1-code{color:inherit;background:inherit;border:none;padding:inherit}.mw-parser-output .cs1-hidden-error{display:none;color:var(--color-error,#d33)}.mw-parser-output .cs1-visible-error{color:var(--color-error,#d33)}.mw-parser-output .cs1-maint{display:none;color:#085;margin-left:0.3em}.mw-parser-output .cs1-kern-left{padding-left:0.2em}.mw-parser-output .cs1-kern-right{padding-right:0.2em}.mw-parser-output .citation .mw-selflink{font-weight:inherit}@media screen{.mw-parser-output .cs1-format{font-size:95%}html.skin-theme-clientpref-night .mw-parser-output .cs1-maint{color:#18911f}}@media screen and (prefers-color-scheme:dark){html.skin-theme-clientpref-os .mw-parser-output .cs1-maint{color:#18911f}}</style><cite class="citation web cs1"><a rel="nofollow" class="external text" href="https://web.archive.org/web/20141021232756/http://www.nbcnews.com/id/13556127">"<span class="cs1-kern-left"></span>'Venture philanthropy' creating a buzz - Business - Forbes.com | NBC News"</a>. <i><a href="/wiki/NBC_News" title="NBC News">NBC News</a></i>. October 21, 2014. Archived from <a rel="nofollow" class="external text" href="http://www.nbcnews.com/id/13556127">the original</a> on 2014-10-21.</cite><span title="ctx_ver=Z39.88-2004&rft_val_fmt=info%3Aofi%2Ffmt%3Akev%3Amtx%3Ajournal&rft.genre=unknown&rft.jtitle=NBC+News&rft.atitle=%27Venture+philanthropy%27+creating+a+buzz+-+Business+-+Forbes.com+%26%23124%3B+NBC+News&rft.date=2014-10-21&rft_id=http%3A%2F%2Fwww.nbcnews.com%2Fid%2F13556127&rfr_id=info%3Asid%2Fen.wikipedia.org%3AVenture+philanthropy" class="Z3988"></span></span> </li> <li id="cite_note-Leborgne‐Bonassié_2019_349–357-2"><span class="mw-cite-backlink">^ <a href="#cite_ref-Leborgne‐Bonassié_2019_349–357_2-0"><sup><i><b>a</b></i></sup></a> <a href="#cite_ref-Leborgne‐Bonassié_2019_349–357_2-1"><sup><i><b>b</b></i></sup></a></span> <span class="reference-text"><link rel="mw-deduplicated-inline-style" href="mw-data:TemplateStyles:r1238218222"><cite id="CITEREFLeborgne-BonassiéColettiSansone2019" class="citation journal cs1">Leborgne-Bonassié, Marie; Coletti, Michele; Sansone, Giuliano (2019). "What do venture philanthropy organisations seek in social enterprises?". <i>Business Strategy and the Development</i>. <b>2</b> (4): 349–357. <a href="/wiki/Doi_(identifier)" class="mw-redirect" title="Doi (identifier)">doi</a>:<a rel="nofollow" class="external text" href="https://doi.org/10.1002%2Fbsd2.66">10.1002/bsd2.66</a>. <a href="/wiki/ISSN_(identifier)" class="mw-redirect" title="ISSN (identifier)">ISSN</a> <a rel="nofollow" class="external text" href="https://search.worldcat.org/issn/2572-3170">2572-3170</a>. <a href="/wiki/S2CID_(identifier)" class="mw-redirect" title="S2CID (identifier)">S2CID</a> <a rel="nofollow" class="external text" href="https://api.semanticscholar.org/CorpusID:197889487">197889487</a>.</cite><span title="ctx_ver=Z39.88-2004&rft_val_fmt=info%3Aofi%2Ffmt%3Akev%3Amtx%3Ajournal&rft.genre=article&rft.jtitle=Business+Strategy+and+the+Development&rft.atitle=What+do+venture+philanthropy+organisations+seek+in+social+enterprises%3F&rft.volume=2&rft.issue=4&rft.pages=349-357&rft.date=2019&rft_id=https%3A%2F%2Fapi.semanticscholar.org%2FCorpusID%3A197889487%23id-name%3DS2CID&rft.issn=2572-3170&rft_id=info%3Adoi%2F10.1002%2Fbsd2.66&rft.aulast=Leborgne-Bonassi%C3%A9&rft.aufirst=Marie&rft.au=Coletti%2C+Michele&rft.au=Sansone%2C+Giuliano&rfr_id=info%3Asid%2Fen.wikipedia.org%3AVenture+philanthropy" class="Z3988"></span></span> </li> <li id="cite_note-3"><span class="mw-cite-backlink"><b><a href="#cite_ref-3">^</a></b></span> <span class="reference-text"><link rel="mw-deduplicated-inline-style" href="mw-data:TemplateStyles:r1238218222"><cite id="CITEREFHelmut_K._AnheierStefan_Toeple2009" class="citation book cs1">Helmut K. Anheier; Stefan Toeple, eds. (2009-11-24). <a rel="nofollow" class="external text" href="https://books.google.com/books?id=oBxyaj3b50EC&pg=PA1606"><i>International Encyclopedia of Civil Society</i></a>. Springer. p. 1606. <a href="/wiki/ISBN_(identifier)" class="mw-redirect" title="ISBN (identifier)">ISBN</a> <a href="/wiki/Special:BookSources/9780387939964" title="Special:BookSources/9780387939964"><bdi>9780387939964</bdi></a>.</cite><span title="ctx_ver=Z39.88-2004&rft_val_fmt=info%3Aofi%2Ffmt%3Akev%3Amtx%3Abook&rft.genre=book&rft.btitle=International+Encyclopedia+of+Civil+Society&rft.pages=1606&rft.pub=Springer&rft.date=2009-11-24&rft.isbn=9780387939964&rft_id=https%3A%2F%2Fbooks.google.com%2Fbooks%3Fid%3DoBxyaj3b50EC%26pg%3DPA1606&rfr_id=info%3Asid%2Fen.wikipedia.org%3AVenture+philanthropy" class="Z3988"></span></span> </li> <li id="cite_note-4"><span class="mw-cite-backlink"><b><a href="#cite_ref-4">^</a></b></span> <span class="reference-text"><link rel="mw-deduplicated-inline-style" href="mw-data:TemplateStyles:r1238218222"><cite class="citation web cs1"><a rel="nofollow" class="external text" href="https://thefundchicago.org/who-we-are/leadership/janet-knupp/">"Janet Knupp"</a>. <i>Chicago Public Education Fund</i><span class="reference-accessdate">. Retrieved <span class="nowrap">2019-06-24</span></span>.</cite><span title="ctx_ver=Z39.88-2004&rft_val_fmt=info%3Aofi%2Ffmt%3Akev%3Amtx%3Ajournal&rft.genre=unknown&rft.jtitle=Chicago+Public+Education+Fund&rft.atitle=Janet+Knupp&rft_id=https%3A%2F%2Fthefundchicago.org%2Fwho-we-are%2Fleadership%2Fjanet-knupp%2F&rfr_id=info%3Asid%2Fen.wikipedia.org%3AVenture+philanthropy" class="Z3988"></span></span> </li> <li id="cite_note-5"><span class="mw-cite-backlink"><b><a href="#cite_ref-5">^</a></b></span> <span class="reference-text">Faster Cures May 7, 2015 <a rel="nofollow" class="external text" href="http://www.fastercures.org/newsroom/press-releases/view/20/">Press release: Venture philanthropy gains steam, pushes promising science through to patients</a></span> </li> <li id="cite_note-6"><span class="mw-cite-backlink"><b><a href="#cite_ref-6">^</a></b></span> <span class="reference-text"><link rel="mw-deduplicated-inline-style" href="mw-data:TemplateStyles:r1238218222"><cite class="citation web cs1"><a rel="nofollow" class="external text" href="https://www.socialventures.com.au/">"Social Ventures Australia | Insights and action to alleviate disadvantage"</a>. <i>Social Ventures Australia</i><span class="reference-accessdate">. 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Science. 2000 Jun 9;288(5472):1715b-7b. <link rel="mw-deduplicated-inline-style" href="mw-data:TemplateStyles:r1238218222"><a href="/wiki/PMID_(identifier)" class="mw-redirect" title="PMID (identifier)">PMID</a> <a rel="nofollow" class="external text" href="https://pubmed.ncbi.nlm.nih.gov/17836682">17836682</a></span> </li> <li id="cite_note-Bioprocess-10"><span class="mw-cite-backlink">^ <a href="#cite_ref-Bioprocess_10-0"><sup><i><b>a</b></i></sup></a> <a href="#cite_ref-Bioprocess_10-1"><sup><i><b>b</b></i></sup></a></span> <span class="reference-text">Staff, Bioprocessing Online. June 5, 2000 <a rel="nofollow" class="external text" href="http://www.bioprocessonline.com/doc/aurora-biosciences-receives-funding-from-the-0001">Aurora Biosciences Receives Funding from the Cystic Fibrosis Foundation</a></span> </li> <li id="cite_note-11"><span class="mw-cite-backlink"><b><a href="#cite_ref-11">^</a></b></span> <span class="reference-text">Matt Fleisher-Black for Corporate Counsel. June 2002. <a rel="nofollow" class="external text" href="https://web.archive.org/web/20160306062932/http://www.schanerlaw.com/wp-content/uploads/2014/07/Corporate-Counsel-June-2002.pdf">Patient, Heal Thyself</a></span> </li> <li id="cite_note-Robb-12"><span class="mw-cite-backlink">^ <a href="#cite_ref-Robb_12-0"><sup><i><b>a</b></i></sup></a> <a href="#cite_ref-Robb_12-1"><sup><i><b>b</b></i></sup></a></span> <span class="reference-text">Lauren Arcuri Ware for the Robb Report. April 1, 2014 <a rel="nofollow" class="external text" href="http://robbreport.com/health-and-wellness/philanthropy/massachusetts-general/venture-philanthropy-new-driver-research">Venture Philanthropy: A New Driver for Research</a></span> </li> <li id="cite_note-NYTwindfall-13"><span class="mw-cite-backlink">^ <a href="#cite_ref-NYTwindfall_13-0"><sup><i><b>a</b></i></sup></a> <a href="#cite_ref-NYTwindfall_13-1"><sup><i><b>b</b></i></sup></a> <a href="#cite_ref-NYTwindfall_13-2"><sup><i><b>c</b></i></sup></a></span> <span class="reference-text">Andrew Pollack for the New York Times. Nov 19, 2014 <a rel="nofollow" class="external text" href="https://www.nytimes.com/2014/11/19/business/for-cystic-fibrosis-foundation-venture-yields-windfall-in-hope-and-cash.html">Deal by Cystic Fibrosis Foundation Raises Cash and Some Concern</a></span> </li> <li id="cite_note-14"><span class="mw-cite-backlink"><b><a href="#cite_ref-14">^</a></b></span> <span class="reference-text">Brian McGrory for the Boston Globe. Feb 09, 2012 <a rel="nofollow" class="external text" href="https://www.bostonglobe.com/metro/2012/02/09/joey-long-legacy/H9AdbKVYHOeUW5qYkQ9HWL/story.html">Driven by loss, father inspires tireless pursuit of a cure</a></span> </li> <li id="cite_note-MIT-15"><span class="mw-cite-backlink">^ <a href="#cite_ref-MIT_15-0"><sup><i><b>a</b></i></sup></a> <a href="#cite_ref-MIT_15-1"><sup><i><b>b</b></i></sup></a></span> <span class="reference-text">Barry Werth for MIT Technology Review. October 22, 2013 <a rel="nofollow" class="external text" href="https://www.technologyreview.com/s/520441/a-tale-of-two-drugs/">A Tale of Two Drugs</a></span> </li> <li id="cite_note-Vertex_letter_2012-16"><span class="mw-cite-backlink"><b><a href="#cite_ref-Vertex_letter_2012_16-0">^</a></b></span> <span class="reference-text"><link rel="mw-deduplicated-inline-style" href="mw-data:TemplateStyles:r1238218222"><cite id="CITEREFDavid_M._OrensteinPaul_M._QuintonBrian_P._O'SullivanCarlos_E._Milla2012" class="citation cs2">David M. Orenstein; Paul M. Quinton; Brian P. O'Sullivan; Carlos E. Milla; Mark Pian; et al. (9 July 2012), <a rel="nofollow" class="external text" href="http://www.medpagetoday.com/upload/2013/5/17/CFletter.pdf"><i>Letter to Jeff Leiden, CEO of Vertex Pharmaceuticals</i></a> <span class="cs1-format">(PDF)</span><span class="reference-accessdate">, retrieved <span class="nowrap">19 July</span> 2015</span></cite><span title="ctx_ver=Z39.88-2004&rft_val_fmt=info%3Aofi%2Ffmt%3Akev%3Amtx%3Abook&rft.genre=book&rft.btitle=Letter+to+Jeff+Leiden%2C+CEO+of+Vertex+Pharmaceuticals&rft.date=2012-07-09&rft.au=David+M.+Orenstein&rft.au=Paul+M.+Quinton&rft.au=Brian+P.+O%27Sullivan&rft.au=Carlos+E.+Milla&rft.au=Mark+Pian&rft_id=http%3A%2F%2Fwww.medpagetoday.com%2Fupload%2F2013%2F5%2F17%2FCFletter.pdf&rfr_id=info%3Asid%2Fen.wikipedia.org%3AVenture+philanthropy" class="Z3988"></span></span> </li> <li id="cite_note-17"><span class="mw-cite-backlink"><b><a href="#cite_ref-17">^</a></b></span> <span class="reference-text"><link rel="mw-deduplicated-inline-style" href="mw-data:TemplateStyles:r1238218222"><cite class="citation news cs1"><a rel="nofollow" class="external text" href="http://www.bioworld.com/content/alnaras-late-stage-pancreatic-enzyme-drives-lilly-acquisition-0">"Alnara's Late-Stage Pancreatic Enzyme Drives Lilly Acquisition"</a>. <i>BioWorld</i>. July 6, 2010.</cite><span title="ctx_ver=Z39.88-2004&rft_val_fmt=info%3Aofi%2Ffmt%3Akev%3Amtx%3Ajournal&rft.genre=article&rft.jtitle=BioWorld&rft.atitle=Alnara%27s+Late-Stage+Pancreatic+Enzyme+Drives+Lilly+Acquisition&rft.date=2010-07-06&rft_id=http%3A%2F%2Fwww.bioworld.com%2Fcontent%2Falnaras-late-stage-pancreatic-enzyme-drives-lilly-acquisition-0&rfr_id=info%3Asid%2Fen.wikipedia.org%3AVenture+philanthropy" class="Z3988"></span></span> </li> <li id="cite_note-18"><span class="mw-cite-backlink"><b><a href="#cite_ref-18">^</a></b></span> <span class="reference-text"><link rel="mw-deduplicated-inline-style" href="mw-data:TemplateStyles:r1238218222"><cite id="CITEREFLedford2011" class="citation journal cs1">Ledford, H (20 July 2011). "Charities seek cut of drug royalties". <i>Nature</i>. <b>475</b> (7356): 275–6. <a href="/wiki/Doi_(identifier)" class="mw-redirect" title="Doi (identifier)">doi</a>:<a rel="nofollow" class="external text" href="https://doi.org/10.1038%2F475275a">10.1038/475275a</a>. <a href="/wiki/PMID_(identifier)" class="mw-redirect" title="PMID (identifier)">PMID</a> <a rel="nofollow" class="external text" href="https://pubmed.ncbi.nlm.nih.gov/21776052">21776052</a>. <a href="/wiki/S2CID_(identifier)" class="mw-redirect" title="S2CID (identifier)">S2CID</a> <a rel="nofollow" class="external text" href="https://api.semanticscholar.org/CorpusID:205066131">205066131</a>.</cite><span title="ctx_ver=Z39.88-2004&rft_val_fmt=info%3Aofi%2Ffmt%3Akev%3Amtx%3Ajournal&rft.genre=article&rft.jtitle=Nature&rft.atitle=Charities+seek+cut+of+drug+royalties.&rft.volume=475&rft.issue=7356&rft.pages=275-6&rft.date=2011-07-20&rft_id=https%3A%2F%2Fapi.semanticscholar.org%2FCorpusID%3A205066131%23id-name%3DS2CID&rft_id=info%3Apmid%2F21776052&rft_id=info%3Adoi%2F10.1038%2F475275a&rft.aulast=Ledford&rft.aufirst=H&rfr_id=info%3Asid%2Fen.wikipedia.org%3AVenture+philanthropy" class="Z3988"></span></span> </li> <li id="cite_note-19"><span class="mw-cite-backlink"><b><a href="#cite_ref-19">^</a></b></span> <span class="reference-text"><link rel="mw-deduplicated-inline-style" href="mw-data:TemplateStyles:r1238218222"><cite class="citation web cs1"><a rel="nofollow" class="external text" href="https://www.newschools.org/">"NewSchools Venture Fund"</a>. <i>NewSchools Venture Fund</i>.</cite><span title="ctx_ver=Z39.88-2004&rft_val_fmt=info%3Aofi%2Ffmt%3Akev%3Amtx%3Ajournal&rft.genre=unknown&rft.jtitle=NewSchools+Venture+Fund&rft.atitle=NewSchools+Venture+Fund&rft_id=https%3A%2F%2Fwww.newschools.org%2F&rfr_id=info%3Asid%2Fen.wikipedia.org%3AVenture+philanthropy" class="Z3988"></span></span> </li> <li id="cite_note-20"><span class="mw-cite-backlink"><b><a href="#cite_ref-20">^</a></b></span> <span class="reference-text">Staff, UW-Madison School of Education News June 20, 2014 <a rel="nofollow" class="external text" href="https://www.education.wisc.edu/soe/news-events/news/2014/06/20/paper-co-authored-by-zeichner-examines-growing-role-of-venture-philanthropy">Paper co-authored by Zeichner examines growing role of venture philanthropy</a></span> </li> <li id="cite_note-21"><span class="mw-cite-backlink"><b><a href="#cite_ref-21">^</a></b></span> <span class="reference-text">Lois Weiner for The Jacobin. September, 2013 <a rel="nofollow" class="external text" href="https://www.jacobinmag.com/2013/09/this-labor-day-thank-a-teacher/">This Labor Day, Thank a Teacher: Teacher unions offer our best shot at revitalizing the labor movement</a></span> </li> <li id="cite_note-22"><span class="mw-cite-backlink"><b><a href="#cite_ref-22">^</a></b></span> <span class="reference-text"><link rel="mw-deduplicated-inline-style" href="mw-data:TemplateStyles:r1238218222"><cite id="CITEREFUgazioMaricic2025" class="citation book cs1">Ugazio, Giuseppe; Maricic, Milos, eds. (2025). <i>The Routledge handbook of artificial intelligence and philanthropy</i>. Abingdon, Oxon ; New York, NY: Routledge. <a href="/wiki/ISBN_(identifier)" class="mw-redirect" title="ISBN (identifier)">ISBN</a> <a href="/wiki/Special:BookSources/978-1-032-74301-1" title="Special:BookSources/978-1-032-74301-1"><bdi>978-1-032-74301-1</bdi></a>.</cite><span title="ctx_ver=Z39.88-2004&rft_val_fmt=info%3Aofi%2Ffmt%3Akev%3Amtx%3Abook&rft.genre=book&rft.btitle=The+Routledge+handbook+of+artificial+intelligence+and+philanthropy&rft.place=Abingdon%2C+Oxon+%3B+New+York%2C+NY&rft.pub=Routledge&rft.date=2025&rft.isbn=978-1-032-74301-1&rfr_id=info%3Asid%2Fen.wikipedia.org%3AVenture+philanthropy" class="Z3988"></span></span> </li> </ol></div> <div class="navbox-styles"><link rel="mw-deduplicated-inline-style" href="mw-data:TemplateStyles:r1129693374"><style data-mw-deduplicate="TemplateStyles:r1236075235">.mw-parser-output .navbox{box-sizing:border-box;border:1px solid #a2a9b1;width:100%;clear:both;font-size:88%;text-align:center;padding:1px;margin:1em auto 0}.mw-parser-output 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.navbox-group,.mw-parser-output .navbox-subgroup .navbox-title{background-color:#ddf}.mw-parser-output .navbox-subgroup .navbox-group,.mw-parser-output .navbox-subgroup .navbox-abovebelow{background-color:#e6e6ff}.mw-parser-output .navbox-even{background-color:#f7f7f7}.mw-parser-output .navbox-odd{background-color:transparent}.mw-parser-output .navbox .hlist td dl,.mw-parser-output .navbox .hlist td ol,.mw-parser-output .navbox .hlist td ul,.mw-parser-output .navbox td.hlist dl,.mw-parser-output .navbox td.hlist ol,.mw-parser-output .navbox td.hlist ul{padding:0.125em 0}.mw-parser-output .navbox .navbar{display:block;font-size:100%}.mw-parser-output .navbox-title .navbar{float:left;text-align:left;margin-right:0.5em}body.skin--responsive .mw-parser-output .navbox-image img{max-width:none!important}@media print{body.ns-0 .mw-parser-output .navbox{display:none!important}}</style></div><div role="navigation" class="navbox" aria-labelledby="Effective_altruism" style="padding:3px"><table class="nowraplinks mw-collapsible autocollapse navbox-inner" style="border-spacing:0;background:transparent;color:inherit"><tbody><tr><th scope="col" class="navbox-title" colspan="2"><link rel="mw-deduplicated-inline-style" href="mw-data:TemplateStyles:r1129693374"><link rel="mw-deduplicated-inline-style" href="mw-data:TemplateStyles:r1239400231"><div class="navbar plainlinks hlist navbar-mini"><ul><li class="nv-view"><a href="/wiki/Template:Effective_altruism" title="Template:Effective altruism"><abbr title="View this template">v</abbr></a></li><li class="nv-talk"><a href="/wiki/Template_talk:Effective_altruism" title="Template talk:Effective altruism"><abbr title="Discuss this template">t</abbr></a></li><li class="nv-edit"><a href="/wiki/Special:EditPage/Template:Effective_altruism" title="Special:EditPage/Template:Effective altruism"><abbr title="Edit this template">e</abbr></a></li></ul></div><div id="Effective_altruism" style="font-size:114%;margin:0 4em"><a href="/wiki/Effective_altruism" title="Effective altruism">Effective altruism</a></div></th></tr><tr><th scope="row" class="navbox-group" style="width:1%">Concepts</th><td class="navbox-list-with-group navbox-list navbox-odd hlist" style="width:100%;padding:0"><div style="padding:0 0.25em"> <ul><li><a href="/wiki/Aid_effectiveness" title="Aid effectiveness">Aid effectiveness</a></li> <li><a href="/wiki/Charity_assessment" title="Charity assessment">Charity assessment</a></li> <li><a href="/wiki/Demandingness_objection" title="Demandingness objection">Demandingness objection</a></li> <li><a href="/wiki/Disability-adjusted_life_year" title="Disability-adjusted life year">Disability-adjusted life year</a></li> <li><a href="/wiki/Disease_burden" title="Disease burden">Disease burden</a></li> <li><a href="/wiki/Distributional_cost-effectiveness_analysis" title="Distributional cost-effectiveness analysis">Distributional cost-effectiveness analysis</a></li> <li><a href="/wiki/Earning_to_give" title="Earning to give">Earning to give</a></li> <li><a href="/wiki/Equal_consideration_of_interests" title="Equal consideration of interests">Equal consideration of interests</a></li> <li><a href="/wiki/Longtermism" title="Longtermism">Longtermism</a></li> <li><a href="/wiki/Marginal_utility" title="Marginal utility">Marginal utility</a></li> <li><a href="/wiki/Moral_circle_expansion" title="Moral circle expansion">Moral circle expansion</a></li> <li><a href="/wiki/Psychological_barriers_to_effective_altruism" title="Psychological barriers to effective altruism">Psychological barriers to effective altruism</a></li> <li><a href="/wiki/Quality-adjusted_life_year" title="Quality-adjusted life year">Quality-adjusted life year</a></li> <li><a href="/wiki/Utilitarianism" title="Utilitarianism">Utilitarianism</a></li> <li><a class="mw-selflink selflink">Venture philanthropy</a></li></ul> </div></td></tr><tr><th scope="row" class="navbox-group" style="width:1%">Key figures</th><td class="navbox-list-with-group navbox-list navbox-even hlist" style="width:100%;padding:0"><div style="padding:0 0.25em"> <ul><li><a href="/wiki/Sam_Bankman-Fried" title="Sam Bankman-Fried">Sam Bankman-Fried</a></li> <li><a href="/wiki/Liv_Boeree" title="Liv Boeree">Liv Boeree</a></li> <li><a href="/wiki/Nick_Bostrom" title="Nick Bostrom">Nick Bostrom</a></li> <li><a href="/wiki/Hilary_Greaves" title="Hilary Greaves">Hilary Greaves</a></li> <li><a href="/wiki/Holden_Karnofsky" title="Holden Karnofsky">Holden Karnofsky</a></li> <li><a href="/wiki/William_MacAskill" title="William MacAskill">William MacAskill</a></li> <li><a href="/wiki/Dustin_Moskovitz" title="Dustin Moskovitz">Dustin Moskovitz</a></li> <li><a href="/wiki/Yew-Kwang_Ng" title="Yew-Kwang Ng">Yew-Kwang Ng</a></li> <li><a href="/wiki/Toby_Ord" title="Toby Ord">Toby Ord</a></li> <li><a href="/wiki/Derek_Parfit" title="Derek Parfit">Derek Parfit</a></li> <li><a href="/wiki/Peter_Singer" title="Peter Singer">Peter Singer</a></li> <li><a href="/wiki/Cari_Tuna" title="Cari Tuna">Cari Tuna</a></li> <li><a href="/wiki/Eliezer_Yudkowsky" title="Eliezer Yudkowsky">Eliezer Yudkowsky</a></li></ul> </div></td></tr><tr><th scope="row" class="navbox-group" style="width:1%">Organizations</th><td class="navbox-list-with-group navbox-list navbox-odd hlist" style="width:100%;padding:0"><div style="padding:0 0.25em"> <ul><li><a href="/wiki/80,000_Hours" title="80,000 Hours">80,000 Hours</a></li> <li><a href="/wiki/Against_Malaria_Foundation" title="Against Malaria Foundation">Against Malaria Foundation</a></li> <li><a href="/wiki/Animal_Charity_Evaluators" title="Animal Charity Evaluators">Animal Charity Evaluators</a></li> <li><a href="/wiki/Animal_Ethics_(organization)" title="Animal Ethics (organization)">Animal Ethics</a></li> <li><a href="/wiki/Centre_for_Effective_Altruism" title="Centre for Effective Altruism">Centre for Effective Altruism</a></li> <li><a href="/wiki/Centre_for_Enabling_EA_Learning_%26_Research" title="Centre for Enabling EA Learning & Research">Centre for Enabling EA Learning & Research</a></li> <li><a href="/wiki/Center_for_High_Impact_Philanthropy" title="Center for High Impact Philanthropy">Center for High Impact Philanthropy</a></li> <li><a href="/wiki/Centre_for_the_Study_of_Existential_Risk" title="Centre for the Study of Existential Risk">Centre for the Study of Existential Risk</a></li> <li><a href="/wiki/Development_Media_International" title="Development Media International">Development Media International</a></li> <li><a href="/wiki/Evidence_Action" title="Evidence Action">Evidence Action</a></li> <li><a href="/wiki/Faunalytics" title="Faunalytics">Faunalytics</a></li> <li><a href="/wiki/Fistula_Foundation" title="Fistula Foundation">Fistula Foundation</a></li> <li><a href="/wiki/Future_of_Humanity_Institute" title="Future of Humanity Institute">Future of Humanity Institute</a></li> <li><a href="/wiki/Future_of_Life_Institute" title="Future of Life Institute">Future of Life Institute</a></li> <li><a href="/wiki/Founders_Pledge" title="Founders Pledge">Founders Pledge</a></li> <li><a href="/wiki/GiveDirectly" title="GiveDirectly">GiveDirectly</a></li> <li><a href="/wiki/GiveWell" title="GiveWell">GiveWell</a></li> <li><a href="/wiki/Giving_Multiplier" title="Giving Multiplier">Giving Multiplier</a></li> <li><a href="/wiki/Giving_What_We_Can" title="Giving What We Can">Giving What We Can</a></li> <li><a href="/wiki/Good_Food_Fund" title="Good Food Fund">Good Food Fund</a></li> <li><a href="/wiki/The_Good_Food_Institute" title="The Good Food Institute">The Good Food Institute</a></li> <li><a href="/wiki/Good_Ventures" title="Good Ventures">Good Ventures</a></li> <li><a href="/wiki/The_Humane_League" title="The Humane League">The Humane League</a></li> <li><a href="/wiki/Mercy_for_Animals" title="Mercy for Animals">Mercy for Animals</a></li> <li><a href="/wiki/Machine_Intelligence_Research_Institute" title="Machine Intelligence Research Institute">Machine Intelligence Research Institute</a></li> <li><a href="/wiki/Malaria_Consortium" title="Malaria Consortium">Malaria Consortium</a></li> <li><a href="/wiki/Nuclear_Threat_Initiative" title="Nuclear Threat Initiative">Nuclear Threat Initiative</a></li> <li><a href="/wiki/Open_Philanthropy_(organization)" class="mw-redirect" title="Open Philanthropy (organization)">Open Philanthropy</a></li> <li><a href="/wiki/Raising_for_Effective_Giving" title="Raising for Effective Giving">Raising for Effective Giving</a></li> <li><a href="/wiki/Sentience_Institute" title="Sentience Institute">Sentience Institute</a></li> <li><a href="/wiki/Unlimit_Health" title="Unlimit Health">Unlimit Health</a></li> <li><a href="/wiki/Wild_Animal_Initiative" title="Wild Animal Initiative">Wild Animal Initiative</a></li></ul> </div></td></tr><tr><th scope="row" class="navbox-group" style="width:1%">Focus areas</th><td class="navbox-list-with-group navbox-list navbox-even hlist" style="width:100%;padding:0"><div style="padding:0 0.25em"> <ul><li><a href="/wiki/Biotechnology_risk" title="Biotechnology risk">Biotechnology risk</a></li> <li><a href="/wiki/Climate_change" title="Climate change">Climate change</a></li> <li><a href="/wiki/Cultured_meat" title="Cultured meat">Cultured meat</a></li> <li><a href="/wiki/Economic_stability" title="Economic stability">Economic stability</a></li> <li><a href="/wiki/Existential_risk_from_artificial_general_intelligence" class="mw-redirect" title="Existential risk from artificial general intelligence">Existential risk from artificial general intelligence</a></li> <li><a href="/wiki/Global_catastrophic_risk" title="Global catastrophic risk">Global catastrophic risk</a></li> <li><a href="/wiki/Global_health" title="Global health">Global health</a></li> <li><a href="/wiki/Global_poverty" class="mw-redirect" title="Global poverty">Global poverty</a></li> <li><a href="/wiki/Intensive_animal_farming" title="Intensive animal farming">Intensive animal farming</a></li> <li><a href="/wiki/Land_use" title="Land use">Land use reform</a></li> <li><a href="/wiki/Life_extension" title="Life extension">Life extension</a></li> <li><a href="/wiki/Malaria_prevention" class="mw-redirect" title="Malaria prevention">Malaria prevention</a></li> <li><a href="/wiki/Mass_deworming" title="Mass deworming">Mass deworming</a></li> <li><a href="/wiki/Neglected_tropical_diseases" title="Neglected tropical diseases">Neglected tropical diseases</a></li> <li><a href="/wiki/Risk_of_astronomical_suffering" title="Risk of astronomical suffering">Risk of astronomical suffering</a></li> <li><a href="/wiki/Wild_animal_suffering" title="Wild animal suffering">Wild animal suffering</a></li></ul> </div></td></tr><tr><th scope="row" class="navbox-group" style="width:1%">Literature</th><td class="navbox-list-with-group navbox-list navbox-odd hlist" style="width:100%;padding:0"><div style="padding:0 0.25em"> <ul><li><i><a href="/wiki/Doing_Good_Better" title="Doing Good Better">Doing Good Better</a></i></li> <li><i><a href="/wiki/The_End_of_Animal_Farming" title="The End of Animal Farming">The End of Animal Farming</a></i></li> <li><i><a href="/wiki/Famine,_Affluence,_and_Morality" title="Famine, Affluence, and Morality">Famine, Affluence, and Morality</a></i></li> <li><i><a href="/wiki/The_Life_You_Can_Save" title="The Life You Can Save">The Life You Can Save</a></i></li> <li><i><a href="/wiki/Living_High_and_Letting_Die" title="Living High and Letting Die">Living High and Letting Die</a></i></li> <li><i><a href="/wiki/The_Most_Good_You_Can_Do" title="The Most Good You Can Do">The Most Good You Can Do</a></i></li> <li><i><a href="/wiki/Practical_Ethics" title="Practical Ethics">Practical Ethics</a></i></li> <li><i><a href="/wiki/The_Precipice:_Existential_Risk_and_the_Future_of_Humanity" title="The Precipice: Existential Risk and the Future of Humanity">The Precipice</a></i></li> <li><i><a href="/wiki/Superintelligence:_Paths,_Dangers,_Strategies" title="Superintelligence: Paths, Dangers, Strategies">Superintelligence: Paths, Dangers, Strategies</a></i></li> <li><i><a href="/wiki/What_We_Owe_the_Future" title="What We Owe the Future">What We Owe the Future</a></i></li></ul> </div></td></tr><tr><th scope="row" class="navbox-group" style="width:1%">Events</th><td class="navbox-list-with-group navbox-list navbox-even hlist" style="width:100%;padding:0"><div style="padding:0 0.25em"> <ul><li><a href="/wiki/Effective_Altruism_Global" title="Effective Altruism Global">Effective Altruism Global</a></li></ul> </div></td></tr></tbody></table></div> <div class="navbox-styles"><link rel="mw-deduplicated-inline-style" href="mw-data:TemplateStyles:r1129693374"><link rel="mw-deduplicated-inline-style" href="mw-data:TemplateStyles:r1236075235"></div><div role="navigation" class="navbox" aria-labelledby="Extreme_wealth" style="padding:3px"><table class="nowraplinks hlist mw-collapsible autocollapse navbox-inner" style="border-spacing:0;background:transparent;color:inherit"><tbody><tr><th scope="col" class="navbox-title" colspan="2"><link rel="mw-deduplicated-inline-style" href="mw-data:TemplateStyles:r1129693374"><link rel="mw-deduplicated-inline-style" href="mw-data:TemplateStyles:r1239400231"><div class="navbar plainlinks hlist navbar-mini"><ul><li class="nv-view"><a href="/wiki/Template:Wealth" title="Template:Wealth"><abbr title="View this template">v</abbr></a></li><li class="nv-talk"><a href="/wiki/Template_talk:Wealth" title="Template talk:Wealth"><abbr title="Discuss this template">t</abbr></a></li><li class="nv-edit"><a href="/wiki/Special:EditPage/Template:Wealth" title="Special:EditPage/Template:Wealth"><abbr title="Edit this template">e</abbr></a></li></ul></div><div id="Extreme_wealth" style="font-size:114%;margin:0 4em">Extreme <a href="/wiki/Wealth" title="Wealth">wealth</a></div></th></tr><tr><th scope="row" class="navbox-group" style="width:1%">Concepts</th><td class="navbox-list-with-group navbox-list navbox-odd" style="width:100%;padding:0"><div style="padding:0 0.25em"></div><table class="nowraplinks navbox-subgroup" style="border-spacing:0"><tbody><tr><td colspan="2" class="navbox-list navbox-odd" style="width:100%;padding:0"><div style="padding:0 0.25em"> <ul><li><a href="/wiki/Capital_accumulation" title="Capital accumulation">Capital accumulation</a> <ul><li><a href="/wiki/Overaccumulation" title="Overaccumulation">Overaccumulation</a></li></ul></li> <li><a href="/wiki/Economic_inequality" title="Economic inequality">Economic inequality</a> <ul><li><a href="/wiki/Wealth_distribution" class="mw-redirect" title="Wealth distribution">Wealth distribution</a></li> <li><a href="/wiki/Income_distribution" title="Income distribution">Income distribution</a></li> <li><a href="/wiki/Consumption_distribution" title="Consumption distribution">Consumption distribution</a></li> <li><a href="/wiki/History_of_economic_inequality" title="History of economic inequality">History of economic inequality</a></li></ul></li> <li><a href="/wiki/International_inequality" title="International inequality">International inequality</a></li> <li><a href="/wiki/Elite" title="Elite">Elite</a></li> <li><a href="/wiki/Oligarchy" title="Oligarchy">Oligarchy</a></li> <li><a href="/wiki/Overclass" title="Overclass">Overclass</a></li> <li><a href="/wiki/Plutocracy" title="Plutocracy">Plutocracy</a></li> <li><a href="/wiki/Plutonomy" title="Plutonomy">Plutonomy</a></li> <li><a href="/wiki/Primitive_accumulation_of_capital" title="Primitive accumulation of capital">Primitive accumulation of capital</a></li> <li><a href="/wiki/Upper_class" title="Upper class">Upper class</a> <ul><li><a href="/wiki/Nouveau_riche" title="Nouveau riche"><i>Nouveau riche</i> <wbr />(new money)</a></li> <li><a href="/wiki/Old_money" title="Old money"><i>Vieux riche</i> <wbr />(old money)</a></li></ul></li> <li><a href="/wiki/Luxury_goods" title="Luxury goods">Luxury goods</a> <ul><li><a href="/wiki/Veblen_good" title="Veblen good">Veblen goods</a> <ul><li><a href="/wiki/Conspicuous_consumption" title="Conspicuous consumption">Conspicuous consumption</a></li> <li><a href="/wiki/Conspicuous_leisure" title="Conspicuous leisure">Conspicuous leisure</a> <ul><li><a href="/wiki/Luxury_beliefs" class="mw-redirect" title="Luxury beliefs">Luxury beliefs</a></li></ul></li></ul></li></ul></li></ul> </div></td></tr><tr><th scope="row" class="navbox-group" style="width:1%">People</th><td class="navbox-list-with-group navbox-list navbox-even" style="width:100%;padding:0"><div style="padding:0 0.25em"> <ul><li><a href="/wiki/Billionaire" title="Billionaire">Billionaire</a></li> <li><a href="/wiki/Captain_of_industry" title="Captain of industry">Captain of industry</a></li> <li><a href="/wiki/High-net-worth_individual" title="High-net-worth individual">High-net-worth individual</a> <ul><li><a href="/wiki/Ultra_high-net-worth_individual" class="mw-redirect" title="Ultra high-net-worth individual">UHNWI</a></li></ul></li> <li><a href="/wiki/Magnate" title="Magnate">Magnate</a> <ul><li><a href="/wiki/Business_magnate" title="Business magnate">Business</a></li></ul></li> <li><a href="/wiki/Millionaire" title="Millionaire">Millionaire</a></li> <li><a href="/wiki/Oligarchy" title="Oligarchy">Oligarch</a> <ul><li><a href="/wiki/Business_oligarch" title="Business oligarch">Business</a></li> <li><a href="/wiki/Russian_oligarchs" title="Russian oligarchs">Russian</a></li> <li><a href="/wiki/Ukrainian_oligarchs" title="Ukrainian oligarchs">Ukrainian</a></li></ul></li> <li><a href="/wiki/Robber_baron_(industrialist)" title="Robber baron (industrialist)">Robber baron</a></li></ul> </div></td></tr><tr><th scope="row" class="navbox-group" style="width:1%"><a href="/wiki/Wealth" title="Wealth">Wealth</a></th><td class="navbox-list-with-group navbox-list navbox-odd" style="width:100%;padding:0"><div style="padding:0 0.25em"> <ul><li><a href="/wiki/Wealth_concentration" class="mw-redirect" title="Wealth concentration">Concentration</a></li> <li><a href="/wiki/Distribution_of_wealth" title="Distribution of wealth">Distribution</a></li> <li><a href="/wiki/Dynastic_wealth" class="mw-redirect" title="Dynastic wealth">Dynastic</a></li> <li><a href="/wiki/Wealth_effect" title="Wealth effect">Effect</a></li> <li><a href="/wiki/Geography_and_wealth" title="Geography and wealth">Geography</a></li> <li><a href="/wiki/Inheritance" title="Inheritance">Inherited</a></li> <li><a href="/wiki/Wealth_management" title="Wealth management">Management</a></li> <li><a href="/wiki/National_wealth" class="mw-redirect" title="National wealth">National</a></li> <li><a href="/wiki/Paper_wealth" title="Paper wealth">Paper</a></li> <li><a href="/wiki/Wealth_and_religion" title="Wealth and religion">Religion</a></li> <li><a href="/wiki/Wealth_tax" title="Wealth tax">Tax</a></li></ul> </div></td></tr></tbody></table><div></div></td></tr><tr><th scope="row" class="navbox-group" style="width:1%">Lists</th><td class="navbox-list-with-group navbox-list navbox-odd" style="width:100%;padding:0"><div style="padding:0 0.25em"></div><table class="nowraplinks navbox-subgroup" style="border-spacing:0"><tbody><tr><th scope="row" class="navbox-group" style="width:1%"><a href="/wiki/Lists_of_people_by_net_worth" title="Lists of people by net worth">People</a></th><td class="navbox-list-with-group navbox-list navbox-even" style="width:100%;padding:0"><div style="padding:0 0.25em"> <ul><li><a href="/wiki/The_World%27s_Billionaires" title="The World's Billionaires"><i>Forbes</i> list of billionaires</a></li> <li><a href="/wiki/List_of_centibillionaires" title="List of centibillionaires">List of centibillionaires</a></li> <li><a href="/wiki/List_of_female_billionaires" title="List of female billionaires">Female billionaires</a></li> <li><a href="/wiki/List_of_royalty_by_net_worth" title="List of royalty by net worth">Richest royals</a></li> <li><a href="/wiki/List_of_richest_Americans_in_history" title="List of richest Americans in history">Wealthiest Americans</a></li> <li><a href="/wiki/List_of_wealthiest_families" title="List of wealthiest families">Wealthiest families</a></li></ul> </div></td></tr><tr><th scope="row" class="navbox-group" style="width:1%"><a href="/wiki/List_of_wealthiest_organizations" class="mw-redirect" title="List of wealthiest organizations">Organizations</a></th><td class="navbox-list-with-group navbox-list navbox-odd" style="width:100%;padding:0"><div style="padding:0 0.25em"> <ul><li><a href="/wiki/List_of_largest_companies_by_revenue" title="List of largest companies by revenue">Largest companies by revenue</a></li> <li><a href="/wiki/List_of_largest_corporate_profits_and_losses" title="List of largest corporate profits and losses">Largest corporate profits and losses</a></li> <li><a href="/wiki/List_of_public_corporations_by_market_capitalization" title="List of public corporations by market capitalization">Largest corporations by market capitalization</a></li> <li><a href="/wiki/List_of_largest_financial_services_companies_by_revenue" title="List of largest financial services companies by revenue">Largest financial services companies by revenue</a></li> <li><a href="/wiki/List_of_largest_manufacturing_companies_by_revenue" title="List of largest manufacturing companies by revenue">Largest manufacturing companies by revenue</a></li> <li><a href="/wiki/List_of_the_largest_software_companies" title="List of the largest software companies">Largest software companies by revenue</a></li> <li><a href="/wiki/List_of_largest_technology_companies_by_revenue" title="List of largest technology companies by revenue">Largest technology companies by revenue</a></li> <li><a href="/wiki/List_of_wealthiest_charitable_foundations" title="List of wealthiest charitable foundations">Charities</a> <ul><li><a href="/wiki/List_of_philanthropists" title="List of philanthropists">Philanthropists</a></li></ul></li> <li>Universities <ul><li><a href="/wiki/Lists_of_institutions_of_higher_education_by_endowment_size" title="Lists of institutions of higher education by endowment size">Endowment size</a></li> <li><a href="/wiki/List_of_universities_by_number_of_billionaire_alumni" title="List of universities by number of billionaire alumni">Number of billionaire alumni</a></li></ul></li></ul> </div></td></tr><tr><th scope="row" class="navbox-group" style="width:1%">Other</th><td class="navbox-list-with-group navbox-list navbox-even" style="width:100%;padding:0"><div style="padding:0 0.25em"> <ul><li><a href="/wiki/List_of_cities_by_number_of_billionaires" title="List of cities by number of billionaires">Cities by number of billionaires</a></li> <li><a href="/wiki/List_of_countries_by_the_number_of_billionaires" class="mw-redirect" title="List of countries by the number of billionaires">Countries by number of billionaires</a></li> <li><a href="/wiki/List_of_countries_by_total_wealth" title="List of countries by total wealth">Countries by total wealth</a></li> <li><a href="/wiki/List_of_sovereign_states_by_wealth_inequality" title="List of sovereign states by wealth inequality">Countries by wealth inequality</a></li> <li><a href="/wiki/Wealth_inequality_in_the_United_States" title="Wealth inequality in the United States">Wealth inequality in the United States</a></li> <li><a href="/wiki/Income_inequality_in_the_United_States" title="Income inequality in the United States">Income inequality in the United States</a></li> <li><a href="/wiki/Lists_of_most_expensive_items_by_category" title="Lists of most expensive items by category">Most expensive items</a> <ul><li><a href="/wiki/Category:Lists_of_most_expensive_things" title="Category:Lists of most expensive things">by category</a></li></ul></li> <li><a href="/wiki/List_of_wealthiest_animals" title="List of wealthiest animals">Wealthiest animals</a></li></ul> </div></td></tr></tbody></table><div></div></td></tr><tr><th scope="row" class="navbox-group" style="width:1%">Related</th><td class="navbox-list-with-group navbox-list navbox-odd" style="width:100%;padding:0"><div style="padding:0 0.25em"></div><table class="nowraplinks navbox-subgroup" style="border-spacing:0"><tbody><tr><td colspan="2" class="navbox-list navbox-odd" style="width:100%;padding:0"><div style="padding:0 0.25em"> <ul><li><a href="/wiki/Diseases_of_affluence" title="Diseases of affluence">Diseases of affluence</a> <ul><li><a href="/wiki/Affluenza" title="Affluenza">Affluenza</a></li> <li><a href="/wiki/Narcissism#Celebrity_narcissism" title="Narcissism">Acquired situational narcissism</a></li></ul></li> <li><i><a href="/wiki/Argumentum_ad_crumenam" title="Argumentum ad crumenam">Argumentum ad crumenam</a></i></li> <li><a href="/wiki/Prosperity_theology" title="Prosperity theology">Prosperity theology</a></li></ul> </div></td></tr><tr><th scope="row" class="navbox-group" style="width:1%"><a href="/wiki/Philanthropy" title="Philanthropy">Philanthropy</a></th><td class="navbox-list-with-group navbox-list navbox-even" style="width:100%;padding:0"><div style="padding:0 0.25em"> <ul><li><a href="/wiki/The_Gospel_of_Wealth" title="The Gospel of Wealth">Gospel of Wealth</a></li> <li><a href="/wiki/The_Giving_Pledge" title="The Giving Pledge">The Giving Pledge</a></li> <li><a href="/wiki/Philanthrocapitalism" title="Philanthrocapitalism">Philanthrocapitalism</a></li> <li><a class="mw-selflink selflink">Venture philanthropy</a></li></ul> </div></td></tr><tr><th scope="row" class="navbox-group" style="width:1%">Sayings</th><td class="navbox-list-with-group navbox-list navbox-odd" style="width:100%;padding:0"><div style="padding:0 0.25em"> <ul><li><a href="/wiki/The_rich_get_richer_and_the_poor_get_poorer" title="The rich get richer and the poor get poorer">The rich get richer and the poor get poorer</a></li> <li><a href="/wiki/Socialism_for_the_rich_and_capitalism_for_the_poor" title="Socialism for the rich and capitalism for the poor">Socialism for the rich and capitalism for the poor</a></li> <li><a href="/wiki/Too_big_to_fail" title="Too big to fail">Too big to fail</a></li></ul> </div></td></tr><tr><th scope="row" class="navbox-group" style="width:1%">Media</th><td class="navbox-list-with-group navbox-list navbox-even" style="width:100%;padding:0"><div style="padding:0 0.25em"> <ul><li><i><a href="/wiki/Das_Kapital" title="Das Kapital">Das Kapital</a></i></li> <li><a href="/wiki/Plutus_(play)" title="Plutus (play)"><i>Plutus</i></a> <ul><li><a href="/wiki/Plutus" title="Plutus">Greek god of wealth</a></li></ul></li> <li><a href="/wiki/Superclass_(book)" title="Superclass (book)"><i>Superclass</i></a> <ul><li><a href="/wiki/The_Superclass_List" title="The Superclass List">List</a></li></ul></li> <li><i><a href="/wiki/The_Theory_of_the_Leisure_Class" title="The Theory of the Leisure Class">The Theory of the Leisure Class</a></i></li> <li><a href="/wiki/Wealth_(film)" title="Wealth (film)"><i>Wealth</i></a></li> <li><i><a href="/wiki/The_Wealth_of_Nations" title="The Wealth of Nations">The Wealth of Nations</a></i></li></ul> </div></td></tr></tbody></table><div></div></td></tr><tr><td class="navbox-abovebelow" colspan="2"><div> <ul><li><a href="/wiki/Category:Wealth" title="Category:Wealth">Category</a> <ul><li><a href="/wiki/Category:Wealth_by_country" title="Category:Wealth by country">by country</a></li></ul></li></ul> </div></td></tr></tbody></table></div>    </div><noscript><img src="https://login.wikimedia.org/wiki/Special:CentralAutoLogin/start?type=1x1" alt="" width="1" height="1" style="border: none; position: absolute;"></noscript> <div class="printfooter" data-nosnippet="">Retrieved from "<a dir="ltr" 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