During the terrible bushfires that savaged Australia there was much calling out of the super wealthy of Australian business for allegedly failing to step up and donate to the recovery effort.
Much has been written over the years about the absence of a culture of philanthropy in Australia amongst our rich.
The following article from 2021 sets out one wealthy individuals perspective on the absence of this culture:
https://www.afr.com/wealth/people/t...e-wealthy-did-the-right-thing-20210513-p57rh6
Donāt be put off by the fact that it is an AFR article as the author is independent of the organisation.
In reading this article you will note that Peter van der Madeās paper wealth falls well short of the group being targeted by the author in fact about 100 million dollars short.
Peter van der Madeās donation pushes very close to 2% of his now paper wealth and in doing so outshines the efforts of many of those referenced in the article.
The fact that a tin pot organisation run by a windsurfer can publish the sort of rubbish it does speaks to the deep seated itās all about me culture that masquerades as sophisticated financial expertise in this country.
The actions of Peter van der Made and his family in donating to charity should have been lauded by the financial industry but all we have heard is crickets beyond this scurrilous piece of gutter journalism.
The silence of all the other rags and authors at Motley Fool, ***************** and The Financial Review is as bad as it evidences they have no interest in promoting a higher standard amongst the wealthy in Australia.
Their complete silence tells me everything I need to know about their ethical standards and reveals an existential truth about the level of moral corruption in the financial services industry in Australia.
My opinion only.
FF
AKIDA BALLISTA