Warehousing tech elite’s wealth? New path urged for Silicon Valley charity


The Silicon Valley Community Foundation grew into the largest philanthropy of its kind over the last decade by jumping on a trend: It offered technology's nouveau riche an attractive charitable account that shields their wealth from taxes, but doesn't require them to disburse it right away to charities. 

Now, as the foundation seeks new leadership following a scandal that led to its top officials' ouster, local charities are urging new direction, arguing that these so-called “donor advised funds” have shortchanged Silicon Valley's needy. 

Save 30% for ads-free and full access now!

Monthly Plan

RM13.90/month
RM9.73 only

Billed as RM9.73 for the 1st month then RM13.90 thereafters.

Annual Plan

RM12.33/month
RM8.63/month

Billed as RM103.60 for the 1st year then RM148 thereafters.

1 month

Free Trial

For new subscribers only


Cancel anytime. No ads. Auto-renewal. Unlimited access to the web and app. Personalised features. Members rewards.
Follow us on our official WhatsApp channel for breaking news alerts and key updates!
Silicon Valley

Next In Tech News

Why teachers should talk to students before accusing them of using AI to cheat
Can AI startups dethrone Google Chrome in the web browser wars?
Opinion: Those who say AI will never match human creativity are wrong
After 21 years, Microsoft is shutting down Skype. It’s truly the end of an era
US drops bid to make Google sell AI investments in antitrust case
Activist investor Mantle Ridge builds a more than $1 billion stake in Cognizant, WSJ reports
US regulator clears path for banks to engage in some crypto activities
Elon Musk's xAI buys new property in Memphis amid supercomputer expansion
Pentagon software buying process shifts towards more access
Apple says some AI improvements to Siri delayed to 2026

Others Also Read