Tim Schwab, an investigative journalist known for his work in publications like The Nation and The Baffler, has recently discussed his book on Bill Gates and the Gates Foundation with Michael E. Hartmann. The conversation touched upon the reaction to Schwab’s book, the foundation’s role in American philanthropy, its recent decision to increase its spend-out rate, and changes in its relationship with Warren Buffett.
Schwab’s 2023 book, “The Bill Gates Problem: Reckoning with the Myth of the Good Billionaire,” is described by The Giving Review as a comprehensive critique of Gates’ public persona. Schwab argues that there is “a growing number of efforts that wealthy philanthropists deploy to advance their goal of protecting, conserving, and enhancing the privileges of the billionaire class.”
In a 2023 article in The Baffler titled “Big Philanthropy,” Schwab states that the Gates Foundation has used over $500 million in donations to amplify its message and influence political interests without significant oversight. He claims this system allows billionaires to pay minimal taxes while using philanthropy as a tool for political gain.
During their discussion, Schwab emphasized that his book is “a critical reappraisal of Bill Gates’ philanthropic career,” examining how wealth can be used to wield influence. He asserts that media outlets have largely ignored his book due to lack of independence or integrity.
Despite these challenges, Schwab acknowledges that the Gates Foundation is pushing boundaries in philanthropy through unique initiatives like program-related investments in pharmaceuticals. However, he views Gates’ announcement about increasing the foundation’s spend-out rate as misleading, arguing it serves more as public relations than genuine generosity.
Schwab also comments on Gates’ shifting relationship with Warren Buffett, who initially planned substantial donations to the foundation but later chose independent philanthropic efforts due to dissatisfaction with its bureaucracy. Additionally, he critiques Gates’ handling of vaccine distribution during the pandemic and highlights controversies surrounding his personal life.
Schwab concludes by cautioning against underestimating Gates’ influence through strategic public relations efforts. In an upcoming continuation of their conversation, Schwab will discuss Melinda French Gates’ grantmaking and potential policy reforms in philanthropy.