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we need to think of everybody as our friend. Sharing – a word now hijacked to


JOHN STUDZINSKI CBE


American-British investment banker and philanthropist. Managing director of investment management fi rm Pimco


Carved into the wall of my home in Spain is a simple but resonant statement of truth, taken from the writings of the Roman philosopher Seneca: ‘Nullius boni sine socio iucunda possessio est.’ This can be translated as: ‘There is no pleasure in owning something that you can’t share with friends.’ Its implications extend far beyond conviviality, though shared pleasures are among the best things in life. Moving our frame of reference to Ancient Greece, we remember that the word ‘philanthropy’ essentially means ‘love of people’. When it comes to sharing in the truest and deepest sense,


describe the dissemination of information or the posting of photos on social media – is not confined to physical resources like money or food. If you are intent on philanthropy, your time and your talents, when devoted to mentoring and nurturing, can be worth as


much as your treasure (your wealth). In the long run they might well be worth even more. Nor is sharing confined to people – or organisations – of considerable means. Anyone, no matter what their status or their age, can make a powerful impact by sharing what they have. Perhaps it is even people who are not wealthy who stand to gain most motivation from Seneca’s message. By sharing, you set an example to the people who have benefited from your generosity. They will be encouraged to share in turn, multiplying the effect. By creating a virtuous circle, the more you give, the more you stand to receive in terms of satisfaction, peace of mind and meaningful relationships. Just as sharing is not all about money, so wealth is about more than the material world.


GUY HANDS


Founder of private equity fi rm Terra Firma Capital Partners and author of The Dealmaker: Lessons from a Life in Private Equity


For most of the past 50 years, people have viewed the gathering of wealth as being about the ability to acquire toys or power to satisfy one’s ego. Today this is changing and using one’s wealth to benefit the whole of humanity is how you can satisfy your soul. Three main things are driving this. One: Human habitat. It doesn’t


matter how wealthy you are – if the world is burning, you suffer the consequences as everyone else. If all the wealthy in the world gave 10 per cent of their wealth to finding an effective and economical way to industrialise carbon capture and store the resulting carbon, they could achieve far more than any political global summit has and transform the world, creating a legacy as significant as the Renaissance.


Two: Inequality. The wealth divide creates resentment and always has. The only way to reduce that resentment is to give something back and use one’s wealth to help others and try to improve society. In a global digital world, the rich cannot hide from public opinion and the consequences of resentment can be dire. Three: Covid. The pandemic has seen people who are not materially rich make extraordinary sacrifices to help their communities. Those who are wealthy now need to demonstrate to their communities their personal commitment


if they want to continue to have support. We must remember that public support can be lost


in ways never seen before.


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