"The New York Times' Robin Pogrebin describes Schwarzman's contribution as an "act of philanthropy." It is not. Sure, it's not the absolute worst thing one could do with one's money. I suppose it's a bit better than literally piling $150 million in dollar bills together in one location and then setting them on fire, insofar as building performing arts center employs more people than assembling a massive money pile would. It's definitely better than using the money to set up a private island upon which to hunt man for sport."
...
"But it's not philanthropy. It's not helping people who need help, and it's obscene that Schwarzman is getting a massive tax write-off for it. Giving to Yale is not an act of altruism. It's a gigantic, immoral waste of money and it's long past time we started treating it as such."
