How Private Wealth, Philanthropy, and Personal Responsibility Created a Nation

Ask yourself, “Who built America?” When we look at great private fortunes, should our first question be how much government can take or what free individuals can create, build, and give back? Look around America before answering.

Our universities, hospitals, libraries, museums, medical research centers, foundations, scholarships, and cultural institutions tell an extraordinary story. Many were created or sustained by private citizens who accumulated wealth and chose to put substantial portions of it to work for others.

Building Opportunity

Johns Hopkins used his fortune to establish the university and hospital that bear his name. Leland and Jane Stanford founded Stanford University. Cornelius Vanderbilt provided the founding gift for Vanderbilt University. James B. Duke created the endowment that transformed Trinity College into Duke University.

Andrew Carnegie helped finance more than 2,500 libraries worldwide, including nearly 1,700 in the United States. They weren’t simply buildings filled with books. They gave generations of Americans, regardless of wealth or social position, access to knowledge and opportunity.

A Public Legacy of Private Giving

John D. Rockefeller directed enormous resources toward medical education, scientific research, and public health. Private philanthropy also helped create and sustain many of America’s great museums and cultural institutions. The Smithsonian began with the bequest of James Smithson. The Metropolitan Museum of Art grew through generations of private gifts. The Frick Collection and Getty institutions grew from private fortunes placed in service to the public.

Our hospitals tell a similar story. Philanthropic dollars have funded medical schools, children’s hospitals, cancer research, new treatments, equipment, patient assistance, and scientific discoveries. Julius Rosenwald, who made his fortune leading Sears, Roebuck and Company, worked with Booker T. Washington and local Black communities to help build thousands of schools for African American children across the segregated South.

The Tradition Continues

And this kind of philanthropy isn’t ancient history. Bill Gates has directed enormous resources toward global health, disease prevention, education, and poverty reduction. Warren Buffett has given tens of billions of dollars to philanthropy. Ken Langone, who organized and financed The Home Depot, gave enough money to NYU Medical School to allow students to become doctors tuition-free.

Chuck Feeney, co-founder of Duty Free Shoppers, gave away virtually his entire multibillion-dollar fortune during his lifetime. MacKenzie Scott has given billions directly to nonprofit organizations. Jeff Bezos has committed billions to causes including homelessness and climate change. Most recently, Michael and Susan Dell gave $6.2 billion to the Trump Accounts program for kids.

Responsibility at Every Scale

Their priorities and methods differ. That’s part of philanthropy’s strength. One person can fight disease. Another can finance research. Another can fund scholarships. Another can support a museum. And someone without a great fortune can write a $100 check to a local food pantry.

Philanthropy isn’t just about billionaires. It is about personal responsibility. Yet much of today’s political discussion about wealth begins with a different question: How much should government take and redistribute? Government has necessary responsibilities, and taxes are required to pay for them. But before assuming government can put private fortunes to better use, we should remember that private wealth, philanthropy, and personal responsibility created a nation.