Coronavirus: why we should be sceptical about the benevolence of billionaires

The coronavirus pandemic has produced a surge in philanthropic giving from some of the world’s wealthiest people. Bill and Melinda Gates, longstanding champions of global health, have committed funds to research the disease and manufacture a vaccine when one becomes available. 

Jack Dorsey, co-founder of Twitter, has pledged US$1 billion (£816 million) for “global COVID-19 relief”. Then there are Jack Ma, Li Ka-Shing, George Soros, Giorgio Armani and Jeff Bezos – other examples of billionaires giving staggering amounts of money to help alleviate the suffering caused by this global crisis. It is not surprising that they have enjoyed widespread praise and acclaim. 

Indeed, it is well deserved. But the situation also illustrates a profound imbalance in society. 

Consider for a moment whether you would agree to be a slave. Let’s say a kindly benefactor offered you a better standard of living than that which you currently enjoy, or can realistically aspire to, and credibly promises to treat you very well. The only condition is that they would own you. 

Would you accept the offer? My suspicion is that most people would not.

This is the question I examine in my recent piece for The Conversation