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<ul class="summary-list"><li><keyword id="11897862" type="UNKNOWN" weightage="60" keywordseo="elon-musk" source="Orion">Elon Musk</keyword> says he's not concerned getting recognition for donating money.</li><li>He says this makes philanthropy a challenge: "It is very hard to give away money effectively."</li></ul>Elon Musk is the richest person in the world, but he says it's still hard to give away money to do good."When it comes to donations, I'd say it is very difficult to give away money effectively," Musk said in <a href="https://www.businessinsider.com/elon-musk-interview-axel-springer-tesla-war-in-ukraine-2022-3">a recent conversation</a> with Mathias Döpfner, the CEO of Insider's parent company, Axel Springer.When asked about the goals of his foundation, Musk said he cares more about the outcomes, not optics, of philanthropy. This, he says, makes it harder for him to give away money "effectively.""If you care about the reality of doing good and not the perception of doing good, then it is very hard to give away money effectively," he said. "I care about reality. Perception be damned."Despite what he described as a challenge to philanthropic efforts, Musk said, "I'm always looking for ways to give away money that are effective," he continued.The <keyword id="11908743" type="UNKNOWN" weightage="60" keywordseo="spacex" source="Orion">SpaceX</keyword> and <a href="https://www.businessinsider.com/elon-musk-people-may-download-memory-personality-onto-tesla-robot-2022-3">Tesla</a> CEO brought up a number of social causes during the conversation."There's obviously environmental causes, there is education, especially science and engineering education," he said. "Pediatric healthcare. Hunger these days is more of a political and logistics problem than it is not having enough food. There is a lot of food. In the US and many countries, the issue is more obesity than it is hunger."Musk also touched on the positive change he hopes SpaceX and <keyword id="11900744" type="UNKNOWN" weightage="60" keywordseo="tesla" source="Orion">Tesla</keyword> will bring."I do want to emphasize that SpaceX and Tesla fundamentally intend to improve the quality of the future," he said. "Especially in terms of usefulness to humanity. Tesla by accelerating sustainable energy. And SpaceX by making multiplanetary intercourse possible. This is more than I can do myself."Musk is one of the richest people in human history, with a net worth of roughly $260 billion. When asked how he felt about this, Musk <a href="https://www.businessinsider.com/elon-musk-really-thinks-putin-is-significantly-richer-than-me-2022-3">said</a> he thinks Russian President Vladimir Putin is "significantly richer than me."Musk also discussed Putin and <a href="https://www.businessinsider.com/russia-invasion-ukraine-refugees-oligarchs-humanitarian-crisis-2022-3">Russia's now-monthlong invasion of Ukraine</a> at another point in the interview, <a href="https://www.businessinsider.com/elon-musk-russia-we-cannot-let-putin-take-over-ukraine-2022-3">saying, "We cannot let Putin take over Ukraine."</a>

Elon Musk says it's 'very hard to give away money effectively' if you care more about the outcomes than the optics of philanthropy

<ul class="summary-list"><li><keyword id="9662074" type="UNKNOWN" weightage="60" keywordseo="mackenzie-scott">MacKenzie Scott</keyword> has given away $2.7 billion to nearly 300 nonprofits in 2021.</li><li>Scott, a philanthropist and <keyword id="191583" type="PERSON" weightage="60" keywordseo="Jeff-Bezos">Jeff Bezos</keyword>' ex-wife, has gifted over $8 billion in recent years. </li><li>She is one of the richest people, with a $60 billion net worth.</li></ul>MacKenzie Scott, the ex-wife of <keyword id="18635" type="CITY" weightage="60" keywordseo="Amazon">Amazon</keyword> founder Jeff Bezos, announced another 10-figure round of donations in a <a href="https://mackenzie-scott.medium.com/seeding-by-ceding-ea6de642bf">blog post</a> on Tuesday.Scott said she had given away $2.74 billion to 286 "high-impact organizations in categories and communities that have historically been underfunded and overlooked." Scott has emerged as a philanthropic powerhouse since her divorce from Bezos in 2019, especially in the past year. In July, Scott announced she had <a href="https://www.businessinsider.com/mackenzie-scott-donates-17-billion-of-her-wealth-since-split-with-jeff-bezos-2020-7">donated $1.7 billion</a> of her wealth to 116 organizations in the previous year. In December, she said she had donated another <a href="https://www.businessinsider.com/mackenzie-scott-announces-4-billion-donation-to-384-organizations-2020-12">$4.2 billion</a> to 384 organizations in the past four months. This latest round of philanthropy announced Tuesday brings her total donations made public since July to about $8.5 billion. Read more: <a href="https://www.businessinsider.com/cartcom-fixes-retailers-biggest-pain-points-in-using-shopify-amazon-2021-6">This startup has raised $45 million with the promise it can eliminate the biggest pain points in using Amazon or Shopify and help retailers like Dollar General crack into e-commerce</a>Scott's separation from her e-commerce tycoon husband left her with a 4% stake in Amazon and immediately made her <a href="https://www.businessinsider.com/mackenzie-scott-worlds-richest-woman-2020-9">one of the wealthiest people</a>. Her net worth of $59.8 billion earns her the 22nd spot on the <a href="https://www.bloomberg.com/billionaires/profiles/mackenzie-scott/?sref=LspfQlRv">Bloomberg Billionaires Index</a>.In Tuesday's blog post, Scott said her giving stemmed from a desire to distribute wealth to nonprofits that strengthen communities like two- and four-year higher-education institutions, arts and cultural institutions, and community-engagement organizations."Me, Dan, a constellation of researchers and administrators and advisors - we are all attempting to give away a fortune that was enabled by systems in need of change," Scott said. "In this effort, we are governed by a humbling belief that it would be better if disproportionate wealth were not concentrated in a small number of hands, and that the solutions are best designed and implemented by others."

MacKenzie Scott gave away another $2.7 billion to 286 organizations, bringing her total recent donations to $8.5 billion

<ul class="summary-list"><li>Trevor Lawrence is expected to be the No. 1 pick in the 2021 <keyword id="103436" type="ORGANIZATION" weightage="60" keywordseo="NFL">NFL</keyword> Draft.</li><li>The Jacksonville Jaguars hold the top pick this year. </li><li>Lawrence hinted at his inevitable career in Jacksonville, donating $20,000 to charities in the area.</li></ul>Trevor Lawrence hasn't even been drafted into the NFL yet, but that isn't stopping him from getting a head start on his career as a superstar philanthropist. The former Clemson quarterback and projected No. 1 pick in the upcoming NFL Draft announced via Twitter that he would be donating $20,000 to local charities in Jacksonville, Florida. Jacksonville also happens to be the hometown of the Jacksonville Jaguars, who have the top pick in this year's draft and are expected to take Lawrence. Lawrence's impending donations come in response to Jacksonville locals sending him and his new wife, Marissa Mowry, wedding gifts and $11,000 in donation money to a charity of their choice. Lawrence is matching their donation and then some with his promise of $20,000. Lawrence's donations likely won't come until after he signs his first NFL contract. If he is selected No. 1 overall, he'll have plenty of room for much bigger donations down the line. The NFL's last No. 1 overall pick Joe Burrow, who was drafted out of LSU by the Cincinnati Bengals last year, signed a four-year $37 million rookie contract with a $23 million signing bonus. The NFL salary cap decreased by 8% this year due to the revenue lost during the COVID-19 pandemic. However, Lawrence's rookie deal should still exceed $35 million in total dollars with a signing bonus that exceeds $20 million if he is, in fact, the first-overall pick. New Jaguars head coach Urban Meyer said that the Jaguars drafting Lawrence with the first pick is the direction the organization is going, according to Peter King of <a href="https://profootballtalk.nbcsports.com/2021/03/29/urban-meyer-jaguars-trevor-lawrence-nfl-draft-trades-fmia-peter-king/">NBC Sports</a>. For Meyer, Lawrence won't be the pick for just his football prowess, but because of the character, he'd bring as the face of a franchise, which Jacksonville locals have already begun to embrace. "I'd have to say that's the direction we're going," King said of drafting Lawrence. "I see him, and I witness with my players when the guys get drafted high, a lot of people get . . . They have influences in their life. Like, whether it be social media, whether it be other things that really don't pertain to winning. What I'm really pleased with and I don't want to say surprised, but him, his agent, his family, they're focused on one thing. He wants to become the best version of himself for the National Football League, which is, well, it is somewhat refreshing."

The NFL Draft hasn't happened yet and Clemson QB Trevor Lawrence already has a relationship with Jags fans through wedding gifts and charity donations

Read the email Expensify's CEO sent to customers on MLK Day outlining the company's plan to fight injustices with a 'highly experimental' crowdsourced campaign

<a href="https://www.businessinsider.com/better-capitalism"></a><div type="image" title="Ray Dalio" height="1667" width="2500" msid="79599534" hostid="261"></div><ul class="summary-list"><li>Top business executives and leaders are joining famed investor <keyword id="578885" type="PERSON" weightage="60" keywordseo="Ray-Dalio">Ray Dalio</keyword> to fund a massive <keyword id="6351" type="ORGANIZATION" weightage="60" keywordseo="charity">charity</keyword> giveaway <a href="https://redefinegifting.tisbest.org/">coming sometime this week</a>.</li><li>The leaders include Netflix CEO <keyword id="566177" type="PERSON" weightage="60" keywordseo="Reed-Hastings">Reed Hastings</keyword>, Instagram co-founder Kevin Systrom, media mogul and Thrive Global founder Arianna Huffington, and author and podcaster Jay Shetty.</li><li>Last week, Dalio gave away 10,000 "<a href="https://redefinegifting.tisbest.org/">charity gift cards</a>," each worth $100, that anyone could claim and donate. They were all claimed within two hours.</li><li>Dalio said in a statement he wants to encourage people to rethink gifting, to donate more to charities in a time of economic need rather than purchase "useless material stuff."</li></ul>Last week, Ray Dalio, investor and founder of the world's largest hedge fund Bridgewater Associates, gave away <a href="https://redefinegifting.tisbest.org/">10,000 "charity gift cards"</a> each worth $100. Anyone could claim a gift card and donate it to their charity of choice. All 10,000 gift cards were claimed within two hours, a sign of the massive need many nonprofits find themselves in due to the coronavirus pandemic's economic downturn. Now, other leaders in the business community are joining Dalio in his effort to fund another round of giveaways. The list of leaders include Netflix CEO Reed Hastings, Instagram co-founder Kevin Systrom, media mogul and Thrive Global founder Arianna Huffington, and author and podcaster Jay Shetty. "I was so happy that so many people signed up, but felt terrible that others were closed out," Dalio said in a <a href="https://www.facebook.com/permalink.php?id=276708266084189&amp;story_fbid=10831702221046524652">social media post</a>. The number of gift cards to be made available in this <a href="https://redefinegifting.tisbest.org/">upcoming round</a> has yet to be determined, per a spokesperson for Dalio. The new gift card launch is expected this week. For the famed investor, the initiative is a chance to rethink holiday gifting amid a time of dire need. Dalio has previously spoken about <keyword id="6411412" type="UNKNOWN" weightage="60" keywordseo="inequality">inequality</keyword> in America, saying in an April interview that America's jarring inequality is a <a href="https://www.businessinsider.com/ray-dalio-the-american-dream-doesnt-exist-inequality-education-2020-4">"national emergency"</a> that is threatening capitalism."Imagine the impact we could have if people started giving each other the ability to donate to their favorite charities rather than giving them useless material stuff," Dalio said in a statement.

Netflix's Reed Hastings, Instagram's Kevin Systrom, and others join billionaire investor Ray Dalio for massive charity giveaway

Photos show what it's like inside the historic apartment building LeBron James' foundation transformed into transitional housing for families in need

<ul class="summary-list"><li>Billionaire investor <keyword id="6358963" type="DEFINITION" weightage="60" keywordseo="Warren-Buffett">Warren Buffett</keyword> donated $2.9 billion worth of Class B shares in his <a href="https://markets.businessinsider.com/stocks/brk-b-stock">Berkshire Hathaway</a> charity this week, taking his total philanthropic contributions to $37 billion in 14 years.</li><li>The donation, however, has pushed him to his lowest ever position on Bloomberg's widely cited <keyword id="6393638" type="UNKNOWN" weightage="60" keywordseo="Billionaires-index">Billionaires Index</keyword>.</li><li>Buffett was overtaken on the list by Google founders Larry Page and Sergey Brin.</li><li><keyword id="191583" type="PERSON" weightage="60" keywordseo="Jeff-Bezos">Jeff Bezos</keyword>, CEO of <a href="https://markets.businessinsider.com/stocks/amzn-stock">Amazon i</a>s the world's richest man on the index, having gained $68 billion since the pandemic started</li></ul>Famed investor Warren Buffett <a href="https://markets.businessinsider.com/news/stocks/warren-buffett-gives-3-billion-charity-37-billion-overall-2020-7-1029376085#">gifted about $2.9 billion</a> worth of Class B shares in <keyword id="6362665" type="ORGANIZATION" weightage="60" keywordseo="berkshire-hathaway">Berkshire Hathaway</keyword> to charity this week, a move which has caused his total wealth ranking to tumble to eighth position on the Bloomberg <keyword id="6393637" type="UNKNOWN" weightage="60" keywordseo="Billionaires">Billionaires</keyword> Index, <a href="https://www.bloombergquint.com/business/buffett-dropping-down-world-s-richest-ranks-as-tech-titans-surge">Bloomberg</a> reported Thursday.This is the lowest position the chief of <a href="https://markets.businessinsider.com/stocks/brk-b-stock">Berkshire Hathaway</a> has held on the Bloomberg Billionaires index, since 2012 when the index began. Read More: <a href="https://www.businessinsider.com/stock-picks-to-buy-market-beating-returns-coronavirus-spikes-evercore-2020-7" target="_blank" rel="noopener noreferrer">Buy these 15 stocks that are shielded from COVID-19 fallout and primed to beat the market even as virus cases spike, Evercore says</a>As recently as June, Buffett held fifth position, a sign that his charitable contributions are affecting his total net wealth. Buffett donated almost 16 million shares to five philanthropic groups: the Bill and Melinda Gates Foundation, the Susan Thompson Buffett Foundation, The Sherwood Foundation, Howard G. Buffett Foundation, and NoVo Foundation, his company said Wednesday. Billionaire technology executives such as Steve Balmer, former <a href="https://markets.businessinsider.com/stocks/microsoft_1-stock">Microsoft</a> CEO and <a href="https://markets.businessinsider.com/stocks/googl-stock">Google</a> co-founders Larry Page and Sergey Brin have overtaken Buffett, with six of the seven richest people on earth involved in the technology industry.Bernard Arnault, the boss of luxury goods giant LVMH, is the only non-tech billionaire ahead of Buffett, ranking fourth with a net worth of $92 billion.Read More: <a href="https://www.businessinsider.com/stock-market-investing-strategy-advice-2020-us-election-outcomes-ubs-2020-7" target="_blank" rel="noopener noreferrer">UBS has compiled an investing playbook for all the possible election outcomes. Here are the 6 trades it recommends to profit from a Trump triumph — and 10 for a Biden blue wave.</a><a href="https://markets.businessinsider.com/stocks/amzn-stock">Amazon</a> CEO Jeff Bezos is the richest man in the world, having added $68 billion to his fortunes in this year alone, partly thanks to a boom in <keyword id="18635" type="CITY" weightage="60" keywordseo="Amazon">Amazon</keyword>'s stock as shops closed and millions turned even more to online shopping.Buffett said in his latest letter to shareholders that it would take at least 12-15 years for his estate to pass on all shares he owns in his business after his death.The Institute for Policy Studies, a left-leaning think-tank also said that American billionaires had gained more than <a href="https://www.businessinsider.com/billionaires-got-565-billion-richer-during-the-coronavirus-pandemic-2020-6">half a trillion</a> dollars of wealth during the pandemic, and the country's racial financial gap has grown.

Warren Buffett tumbles to his lowest ever position on the list of the world's richest people after a $2.9 billion charity donation

<keyword id="254410" type="PERSON" weightage="20" keywordseo="Pandia-Rajan">Pandia Rajan</keyword> knows about child labor – he experienced it firsthand growing up in a village near the town of Tamil Nadu, famous for producing firecrackers. He lost his father at a young age and his community raised him, helping him to complete his education. "I certainly feel the need to give back to society, because of what I experienced growing up," he says. 
 
Rajan also found the perfect business partner in his quest to give back – his wife Hemalatha – and together they spend much of their time studying different models and methods on how to create a sustainable philanthropic organization. 
 
"This analysis gave us a framework over which we started to draw a human dimension," explains Rajan, a member of <a href="http://www.ypo.org/">Young Presidents’ Organization</a> since 2003 in India. "It also made us realize the importance of examining policy at a grassroots level and how political parties can also assist." 
 
The couple has never believed in checkbook philanthropy and wanted to build proper relationships with communities, much like a family would. They established the <a href="http://mafoistrategy.com/">Ma Foi Foundation</a> in 1992 to promote community service and registered the <keyword id="3288238" type="UNKNOWN" weightage="20" keywordseo="Sornammal-Educational-trust">Sornammal Educational Trust</keyword> in 1996 to help eradicate child labor in the firecracker industry. In the beginning, the trust adopted one child every month, with Rajan and his wife personally selecting and mentoring them. 
 
 
 
"Our philosophy has always been to improve human development in the areas in which we operate," says Rajan. 
 
This has resulted in the permanent change for the better for thousands of people, mostly children, youth and women. Three different organizations fall under the Ma Foi umbrellas, each with a unique focus: Disha nurtures disadvantaged children to finish school and become employable, Ekam provides holistic healthcare for children between birth and 17 years old, and Sornam provides micro loans to women. 
 
The numbers illustrate the effectiveness of what they have done to date. The Disha scholarship has given educational opportunities to 4,000 children from 120 schools across the state of Tamil Nadu. More than 700 of them are now in college with 280 having moved on into formal employment. The Disha Sports Academy has maintained the participants as state champions in boxing and district champions in football. 
 
Ekam has created a network of more than 172 doctors and 51 hospitals across five districts, saving a staggering 7,000 infants from death. Another 6,000 children have received their first pair of reading glasses and 3,000 nurses have been recruited to staff local government hospitals. 
 
Sornam has created 4,315 self-help groups for 60,900 women that facilitate lines of credit to help support women in starting their own businesses. 
 
"It gives us immense satisfaction to personally see the growth of people we work with," says Rajan. "The time we spend with staff and beneficiaries of each project are critical to the success of these ventures, and for us too. We understand that ideas do not just appear at the top of the management chain. In many instances, it's the people we work with, or our beneficiaries, that give us ideas." 
 
To ensure sustainability and long-term vision, the couple believes in giving freedom to participants who design projects in which they believe. They recruit people who have a vision of their own and Rajan and his wife are always at hand to incubate these ideas and support them. Ekam came to life in a similar fashion. It began as the idea of a doctor, the couple supported it, and today it is one of the largest NGO's in the region. 
 
"Focusing on impact, rather than project-mode, is another reason we are able to innovate constantly," says Rajan. "We discuss relevance and impact with beneficiaries constantly. This approach keeps the benefits optimized and also helps us formulate new projects and initiatives." 
 
(The article is authored by Grant Schreiber, <a href="http://www.realleaders.media/">Real Leaders</a>) 
 
<keyword id="852310" type="ORGANIZATION" weightage="20" keywordseo="YPO">YPO</keyword> (Young Presidents’ Organization) is a not-for-profit, global network of young chief executives connected through the shared mission of becoming Better Leaders Through Education and Idea Exchange™. For more information, visit <a href="http://www.ypo.org/">www.ypo.org</a>. 
 
(Image: Thinkstock)

A Family Link to the Past is a Bridge to the Future

<a href="http://www.businessinsider.in/searchresult.cms?query=satya+nadella&amp;sortorder=effectivedate">Satya Nadella</a>, <a href="http://www.businessinsider.in/searchresult.cms?query=microsoft&amp;sortorder=effectivedate">Microsoft</a> CEO and one of the most influential business leaders in the world has signed a deal to write his very first book. 
We know what you’re thinking and no, it’s not exactly a memoir or a ‘how to succeed’ book. 
 Titled ‘<keyword id="3454340" type="UNKNOWN" weightage="100" keywordseo="Hit-Refresh">Hit Refresh</keyword>,’ the book will heavily focus on Nadella’s efforts to ‘transform <keyword id="10387" type="CITY" weightage="100" keywordseo="Microsoft">Microsoft</keyword> from a troubled technology giant to an industry leader’ and about how technology will shape the future. It will also in parts highlight his personal journey of transformation. 
 
Nadella revealed that he intended to write about Microsoft’s transition ‘as I’m going through it’ so that it provides an apt guide to the changes the company and its employees makes in the process. 
 At the recent <keyword id="1724485" type="UNKNOWN" weightage="100" keywordseo="Aspen-Ideas-Festival">Aspen Ideas Festival</keyword> in Colorado, which is a forum for business political leaders and educators to discuss current topics, he described the book as the “meditations of somebody who is a sitting CEO of a company going through a pretty cathartic transformation.” 
 
Here is the full description from Harper- 
 
“Hit Refresh follows three storylines: Nadella’s personal journey of transformation, the change that is taking place today inside his storied technology company, and one that is coming in all of our lives as intelligent machines become more ubiquitous throughout society. Nadella explores how people, organisations, and societies can and must transform-hit refresh- in their persistent quest for new energy, new ideas, relevance and renewal. Nadella writes that uniquely human qualities like empathy will become more valuable in a world where the torrent of technology will disrupt like never before.” 
 Hit Refresh will be published in fall 2017 by <keyword id="3454001" type="UNKNOWN" weightage="100" keywordseo="harper-business">Harper business</keyword>, which is a division of HarperCollins. Nadella reportedly intends to give the proceeds to Microsoft Philanthrophies. 
 
All in all, this sounds like one interesting book. We can't wait. Can you?

Microsoft’s Satya Nadella is writing his first book and it sounds like a must-read

<div class="KonaFilter image-container display-table float_right"><div><div class="image on-image"></div></div></div>A billionaire board member of the world's most powerful media company has been using a fraction of his enormous wealth to try and take down a news website critical of him, by anonymously funding lawsuits targeting the site.&#xa0;Peter Thiel, the&#xa0;influential Silicon Valley investor and cofounder of PayPal&#xa0;<a href="http://uk.businessinsider.com/peter-thief-speaks-about-gawker-lawsuit-hulk-hogan-2016-5">admitted this week</a>&#xa0;that he was the mystery financial backer funding wrestler Hulk Hogan's attempts to sue snarky news and gossip blog Gawker into oblivion over a sex tape.The fiercely libertarian, Donald Trump-supporting billionaire sits on the board of Facebook - the most powerful media company in the world, where&#xa0;<a href="http://newsroom.fb.com/company-info/">more than a billion people</a> access and consume news on a daily basis.Unsurprisingly, people are wondering whether this will&#xa0;have a chilling effect on the freedom of the press, and the ability of journalists to speak (sometimes disrespectfully) truth to power.Thiel's ire with Gawker stems from an article outing him as&#xa0;gay (titled "<a href="http://gawker.com/335894/peter-thiel-is-totally-gay-people">Peter Thiel is totally gay, people</a>"), as well as others that <a href="http://www.nytimes.com/2016/05/26/business/dealbook/peter-thiel-tech-billionaire-reveals-secret-war-with-gawker.html?_r=1">he says</a> "ruined people's lives for no reason." (Disclosure: The author of the article, Owen Thomas, worked for Business Insider between 2012 and 2013.)The investor frames&#xa0;himself as a defender of free speech and journalists. He gave $250,000 to the Committee to Protect Journalists in 2008.&#xa0;<a href="https://cpj.org/about/CPJ.Annual.Report.3MB.pdf">At the time, he said that</a> "as a true believer in the critical importance of free speech, I am delighted to support CPJ's fight for the rights of journalists around the world."<a href="http://www.nytimes.com/2016/05/26/business/dealbook/peter-thiel-tech-billionaire-reveals-secret-war-with-gawker.html?_r=1">In an interview with the New York Times</a>&#xa0;he denied that his actions were contradictory. "I refuse to believe that journalism means massive privacy violations," he told Andrew Ross Sorkin. "I think much more highly of journalists than that. It's precisely because I respect journalists that I do not believe they are endangered by fighting back against Gawker."Plenty of journalists think otherwise.<h2 class="embed-spacer">Peter Thiel is going "thermonuclear"</h2><a href="http://fusion.net/story/306927/peter-thiel-gawker-dangerous-blueprint/">Over at Fusion</a>, Felix Salmon pulls no punches, accusing Thiel of "reinventing the concept of philanthropy so as to include weapons-grade attacks on America's free press." (<a href="http://www.nytimes.com/2016/05/26/business/dealbook/peter-thiel-tech-billionaire-reveals-secret-war-with-gawker.html?_r=1">Speaking to The New York Times</a>, Thiel loftily framed his legal assault on Gawker as a form of philanthrophy. It is "one of my greater philanthropic things that I've done. I think of it in those terms.")&#xa0;Thiel - by funding multiple lawsuits he has no real connection to - has dangerously changed the game, Salmon argues (emphasis ours):If Thiel's strategy works against Gawker, it could be used by any billionaire against any media organization. Sheldon Adelson, Donald Trump, the list goes on and on. Up until now, they've mostly been content suing news organizations as plaintiffs, over stories which name them. But Thiel has shown them how to go thermonuclear: bankroll other lawsuits, as many as it takes, and bankrupt the news organization that way. Very few companies have the legal wherewithal to withstand such a barrage.Josh Marshall, publisher of Talking Points Memo, <a href="http://talkingpointsmemo.com/edblog/a-huge-huge-deal">argues that</a> "You may not like Gawker. They've published stories I would have been ashamed to publish. But if the extremely wealthy, under a veil secrecy, can destroy publications they want to silence, that's a far bigger threat to freedom of the press than most of the things we commonly worry about on that front."Clara Jeffrey, editor-in-chief at Mother Jones (a non-profit news outlet <a href="http://www.motherjones.com/media/2015/10/mother-jones-vandersloot-melaleuca-lawsuit">that has also been sued by a billionaire</a>), is more succinct - labelling Thiel a "thin-skinned billionaire trying to bully press."<div></div><h2>The Facebook angle</h2><div class="KonaFilter image-container display-table float_right"><div><div class="image on-image"></div></div></div>Facebook is, unquestionably, the world's most powerful media company. <a href="http://www.nytimes.com/2016/05/19/opinion/the-real-bias-built-in-at-facebook.html">It makes decisions</a>&#xa0;about what 1.09 billion people see and how they access news on a daily basis. It is responsible for well over half of many news organisations' traffic.It was recently accused of shutting out conservative stories and news outlets from its Trending Topics section. The social network has denied it was biased, <a href="http://www.theverge.com/2016/5/23/11754812/facebook-trending-topics-changes-political-bias-senate-inquiry">and says its investigation found no evidence</a> for the claims, arguing that it strives to be politically "neutral.""Facebook already has absurd economic influence on [the] press," <a href="https://twitter.com/ClaraJeffery/status/735697846779842561">Mother Jones' Clara Jeffrey tweeted</a> - and now one of its board members is trying to muzzle it.And now one of its CEO's key mentors is waging war on a single website to deliberately stop certain types of coverage: "It's less about revenge and more about specific deterrence," <a href="http://www.nytimes.com/2016/05/26/business/dealbook/peter-thiel-tech-billionaire-reveals-secret-war-with-gawker.html?_r=1">Thiel told the New York Times</a>.So far, Zuckerberg has stayed quiet on the issue. A&#xa0;Facebook spokesperson declined to comment when reached by Business Insider. But it looks like others on Facebook's board are sympathetic to Thiel: Marc Andreessen, a fellow board member, has retweeted&#xa0;<a href="https://twitter.com/elidourado/status/735638996525649920">multiple</a> <a href="https://twitter.com/wilshipley/status/735202193641332736">messages</a> in support of the PayPal cofounder.One of Andreessen's colleagues, Benedict Evans, who is a partner at Andreessen's VC group, Andreessen Horowitz, retweeted a tweet <a href="https://twitter.com/cenedella/status/735651088414736385">praising</a> Thiel as a "hero, truly admirable work.")<div></div>Thiel is within his legal rights to act as he does. But it sets a precedent: Will journalists dare scrutinise the ultra-wealthy if they can hire high-powered lawyers to scrutinise a&#xa0;publication's entire history for infractions to hang them? <a href="http://uk.businessinsider.com/rich-people-are-paying-lawyers-to-get-truthful-stories-deleted-from-the-internet-2016-3">Billionaires already routinely - and successfully - use the law to censor the press</a>, but their activities are usually limited to specific stories about them. Thiel's war on Gawker is an attempted takedown of the entire company.&#xa0;A man once-removed from the controls of the most powerful publishing platform on the planet is exerting his enormous wealth to crush a news outlet he dislikes for personal reasons, while saying he supports the freedom of the press. And his colleagues are praising him for it.&#xa0;He is also creating a blueprint for anyone with sufficient resources&#xa0;do likewise - for whatever reasons they desire.<div></div> <div class="margin-top"> <h3>NOW WATCH: <a href="http://www.businessinsider.com/turn-macbook-into-external-hard-drive-2016-5">How to turn your MacBook into an external hard drive by pressing one button</a></h3> <div> <div> <div class="ooyala-video-player" data-video-autoplay="false" data-video-id="g1eWNtMzE6vll8lLcajligF8I9SJy_7O" data-player-variable="ooyalapopvideo" id="ooyalaplayer_popvideo" style="width:1280px;height:720px"></div> </div> </div> </div>

This is what it looks like when a board member of Facebook launches 'weapons-grade attacks on America's free press'

<div class="KonaFilter image-container"><div class="image">Courtesy of Chen Guangbiao</div></div>
As he geared up to sing, karaoke style, a song he had apparently authored ("My Chinese Dream") to a few dozen reporters in a conference at a hotel on Central Park South, one thing seemed about this eccentric Chinese millionaire seemed clear - Chen Guangbiao isn't afraid of the limelight.
"Since you all have equipment in your hands, you don't have to applaud for me," Chen said through an interpreter as the song started.
Chen was almost unknown in New York until two weeks ago, though he had a big reputation in China. Reportedly one of the 400 richest people in China, the recycling magnate is claims to be the number one philanthropist in the country; Chen was <a href="http://www.businessinsider.com/chinese-recycling-tycoon-says-he-wants-to-buy-the-new-york-times-2013-12">reportedly worth $740 million in 2012</a>, but he has pledged to give away most, if not all, of his wealth before his death, inspired by Bill Gates' "Giving Pledge."
Since Chen offered to buy the New York Times, however, he is a star in the Big Apple. Chen made the announcement at the end of last year, explaining that he was working with an unnamed Hong Kong financier and <a href="http://www.businessinsider.com/chinese-recycling-tycoon-says-he-wants-to-buy-the-new-york-times-2013-12">due to meet with a</a> "leading shareholder" in New York in early 2014 to discuss a deal. Chen is an eccentric man by any standards - he <a href="http://static6.businessinsider.com/image/52c2bd60eab8eafb3f036860-524-393/chen-guangbiao-1.jpg">owns at least one lime green suit</a> - and his announcement was met with shock. While the New York Times <a href="http://static6.businessinsider.com/image/52c2bd60eab8eafb3f036860-524-393/chen-guangbiao-1.jpg">announced that they have</a> "no information" about negotiations with Chen, the millionaire shot back with an op-ed in the Chinese state newspaper Global Times.
"I have said as long as the price is reasonable," Chen wrote, "There is nothing that cannot be bought."
Officially, the press conference today wasn't devoted to the New York Times rumors, though it did touch on it. Even so, it was memorable in its own right - and may showcase some of the problems Chen might have if he truly wants to get in on the New York Times.
After his song, Chen explained why he was here. He brought out a mother and daughter, Hao Huijun and Chen Guo, who wore hats and veils as they walked up to the stage. Chen carefully removed their veils to show the disfiguring marks to their faces. The pair had been severely burned over ten years ago, he explained, and now Chen was going to pay millions of dollars for them both to have reconstructive surgery in New York.
That sounds incredibly nice, of course, but the second Chen opened the floor for questions, things got nasty. You see, Hao and Chen were injured during a 2001 self-immolation protest when they were part of the spiritual movement Falun Gong, banned in China since 1999. While it rarely makes headlines abroad, the Falun Gong situation is extremely controversial within China and the Chinese diaspora, and the 2001 self-immolation case has been no different - many have suggested that the Chinese government may have actually played a role in the high profile protest in a bid to discredit Falun Gong.
At the press conference, the questions bore a remarkably aggressive tone - many of the reporters were from media outlets skeptical of the Chinese government, including the Falun Gong-linked New Tang Dynasty Television and the Epoch Times. At one point a man asking a question (who later turned out to be from the World Organization to Investigate the Persecution of Falun Gong) grew so irate during his questioning that when the microphone was taken away from him, he carried on speaking - virtually shouting. The session abruptly ended after a handful of questions, and after he left some of those gathered complained that Chen was here as part of a pro-Communist Party publicity stunt.
In a relatively modest hotel suite upstairs after the press conference, Chen told Business Insider that he had not been anticipating the controversy, but he was not concerned. He said that Hao and Chen had been writing to him for years. "As the number one Chinese philanthropist, I felt obligated to help them," he explained. "This is my honest thinking."
Chen went on to say he had helped over two million people with his philanthropy and had donated money after natural disasters such as the 2010 Japanese Tsunami or the Haitian earthquake from the same year. When asked what lies behind his style of charity, however - a style which he himself as dubbed "flashy philanthrophy" - Chen immediately distanced himself from the Chinese state.
"There is nothing related to the government," he said."I was raised up as a poor child, when I was four years old my older brother and sister starved to death. Because of my high profile over the past few years, the government officials, the rich people, have not liked to interact with me. Chinese people like to do things with a low profile, they do not like to expose their wealth. Wealthy people and government officials, they keep a distance from me."
Chen says he sees himself as different from other wealthy Chinese businessmen. "I never get involved in drinking, smoking, or playing poker games," he explains, before waving his large Samsung phone. "If anyone ever finds me doing these things, with proof of photograph, I will reward this person 10,000 RMB [approximately $1,600]."
His "flashy philanthropy" was a tactic, he explained, to get other wealthy Chinese businessmen to donate their own fortunes. "My reputation as a high profile philanthropist will, I hope, give some pressure to other rich people," Chen explains, before adding that the pressure on him is a burden. "Even though I am smiling, I have some suffering in my heart. How can no one extend their help to me since I have helped so many other people?"
Chen seems sincere when he says stuff like this, and he genuinely puts a lot of effort (and money) into charity work and environmentalism. He says he wants to bring this to America, proposing to use his environmental demolitions methods to San Francisco <a href="http://www.sfgate.com/bayarea/article/Demolition-crews-start-chipping-away-at-old-Bay-4979154.php">to help demolish the old Bay Bridge</a> (and to donate all his net profits to charity, 60% within America).
Still, Chen does have a remarkable confidence that may verge on egomania - if he had a worse haircut he might come across as a Chinese Donald Trump. As unlikely as the purchase might be, does America want its paper of record to be owned by a man whose nine titles on his English-business card include "Most Influential Person of China" and "China Moral Leader"?
When I asked Chen how he'd help the New York Times, he argued that his Times bid had already helped the paper gain more name recognition amongst China's 1.3 billion citizens. How would he change the country's coverage of China? I pressed him on the issue of the islands in the East China Sea, known alternatively as the Diaoyu/Senkaku islands, at the center of a simmering conflict between China and Japan. Chen clearly feels strongly about them - he took an advertisement in the Times <a href="http://www.chinasmack.com/2012/stories/diaoyu-islands-belong-to-china-ad-in-ny-times-chinese-reactions.html">last year that called on the U.S. to accept the islands as Chinese territory</a>.
Chen's refused to get drawn into specifics, instead replying wih the Chinese idiom: "Seek truth with facts." The saying apparently dates back to the Han Dynasty, but Chen attributed it to the person who popularized it in the 20th century: Mao Zedong.

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