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Philanthropy is one of the fastest growing industries in the global economy. Philanthropic billionaires have unprecedented power in creating education policy, directing the development of global agriculture and dictating trends in global health policy. According to its critics, instead of an altruistic aid, philanthropic capitalism is, in essence, an ultimate way of gaining profit under the guise of humanity. Large charities replace state institutions as social service providers. Due to the size of donations, fina...

The advent of neoliberal capitalism at the beginning of the 1980s led to the rise and media promotion of celebrity philanthropy. Groundbreaking events in the media affirmed celebrity philanthropy, for example Bob Geldof's organisation of the Live Aid concert in 1985 with the aim of collecting aid for the hungry in Africa. Geldof's example was an inspiration for other celebrities such as the musician Bono Vox, the actress Angelina Jolie to engage in philanthropic activities. In the analysis of their philanthropic a...