The Rise of a New Philanthropy

An unprecedented wealth transfer, projected at nearly $90 trillion, is underway in North America and Europe. This massive shift in wealth is occurring at the same time as extreme wealth concentration and global inequality are rising, posing a significant threat to social stability and well-being.

• Stephanie Brobbey, founder of the Good Ancestor Movement, argues that wealth inequality is a public health concern, stressing our societies and even causing physical illness.
• She highlights the example of water privatization in the UK, where degraded public infrastructure has led to contaminated drinking water while shareholders have collected billions in dividends.

Addressing Wealth Inequality Through Philanthropy

The Good Ancestor Movement is working to accelerate the transition to a regenerative and equitable economy by engaging wealthy individuals who want to move their capital away from the extractive economy and into social movements and communities that have been harmed by it.

• The movement's approach is informed by the strategy framework for a Just Transition, developed by Michelle Mascarenhas and her colleagues at Movement Generation and the Climate Justice Alliance.
• The Good Ancestor Movement partners with wealthy individuals to direct catalytic grants to communities and individuals on the frontlines of repair and regeneration.

Reimagining the Economy: Doughnut Economics and a Regenerative Future

Brobbey envisions a regenerative economy based on the principles of Doughnut Economics, a framework developed by economist Kate Raworth. This framework emphasizes meeting the needs of humanity within planetary boundaries and building an economy that is distributive and regenerative by design.

• The key to this vision is to shift the purpose of the economy from the accumulation of wealth and power to the wellbeing of our life-sustaining planetary systems and global communities.
• This requires rethinking our relationship with resources and each other, ensuring that dispossessed communities have access to the capital they need to build new ownership structures.

Philanthropy as a Catalyst for Change

The Good Ancestor Movement recognizes the inherent paradox of philanthropy as a byproduct of an extractive economic system. While philanthropy can be a powerful tool for change, the movement aims to go beyond traditional giving by redistributing wealth and shifting power back to communities that have been harmed.

• This shift involves empowering communities to have decision-making power over their resources and futures, enabling them to achieve sovereignty and self-determination.
• The Good Ancestor Movement advocates for wealth holders to partner with community-led groups that are ready to receive asset transfers, including financial assets and real estate.

Tools for Philanthropic Impact: Catalytic Collective and the Good Life Pledge

The Good Ancestor Movement is launching its first resourcing vehicle, the Catalytic Collective, an initiative that brings wealth holders together around an annual pledge and collective pool of funds overseen by an accountability circle of movement leaders and people with lived experience.

• This accountability circle will determine how resources are redistributed, ensuring that funding is directed effectively and equitably.
• The Good Life Pledge is another organization that supports wealthy individuals to partner with community-led groups ready to receive asset transfers.

Impact Investing: Beyond Traditional Models

The Good Ancestor Movement acknowledges that impact investing has achieved some good but has not gone far enough to address structural inequalities. The movement's approach prioritizes non-repayable finance for communities, providing them with the resources they need to invest in themselves on their own terms.

• The Good Ancestor Movement believes that impact investing should go beyond traditional models to address the root causes of wealth inequality and support community-led solutions.
• The movement's new report details its rationale for prioritizing non-repayable finance and identifies the scope for investment or repayable finance within certain parameters.

A Call to Action: Reimagining Wealth for a Regenerative Future

The Good Ancestor Movement encourages wealthy individuals to learn more about the movement's approach to philanthropy by exploring "Reimagining Wealth," its crash course in political economy. This course sheds light on the historical context of our current economic system, challenging conventional narratives and highlighting the role of historical injustices.

• The course empowers participants to see the interconnectedness of wealth, inequality, and social justice, enabling them to explore alternative ways to be in the world and act on the opportunities they have to resource the next economy.
• By embracing the principles of the Good Ancestor Movement, wealth holders can play a crucial role in supporting a more equitable and regenerative future for all.