Chris Burch recently had some interesting things to say about how philanthropy is very important for entrepreneurs and CEOs. Philanthropy is so important for entrepreneurs because responsibility comes along with money. Three million children under age five die every day for various reasons related to poverty. A lot of the U.S.’s top CEOs earn as much as 300 times beyond what the average employee earns. With this comes a great social responsibility. Chris feels that CEOs like Bill Gates have been great models of how to act. Today’s CEOs do seem to understand the charitable power they have and embrace it. Having a philanthropic spirit is quite honestly just good for business as well as it is always a good look for a company to project.
According to Chris, philanthropy is a way of “investing into society.” Many CEOs today believe in building portfolio’s based on social impact. These showcase their business’s drive to respond to its community’s needs. A great example of this that Chris lists are Elon Musk’s donations of millions to research areas that revolve around space exploration. There is research that suggests that making sure your company is philanthropic plays a large role in its ability to attract the best young talent available. Many in the millennial generation want to use their abilities for good.
Philanthropy is also valuable in improving a business’s position financially. The estimates out there show that philanthropic donation creates $3.50 to every dollar spent. Philanthropy is also important because there are still great issues in the world including starvation. The world’s successful business owners really do have the ability to make a difference in this.
Chris Burch is a venture capitalist who serves as CEO of Burch Creative Capital. The firm works in the areas of brand development and management of venture investments. Chris is one of the most successful businessmen today and has over 40 years experience as an entrepreneur (bjtonline.com).
Chris Burch serves on the Board of Directors for the Rothman Institute Orthopedic Foundation. He is also the former president of Pierre Hotel Co-op Board. He is active in philanthropic activity with Mt. Sinai Hospital in New York City, check thenewsversion.com.