The learning curve of a philanthropist, the Bentalls are discovering, is expensive. “It’s so much easier to make money than it is to give it away,” Bob Bentall tells me. Bentall, a multimillionaire and former CEO and chairman of the Bentall Corp., is 85. He has been trying for over 20 years to give away his income but often gathers more than the $3 million the Cedar Foundation can shovel out annually.
The foundation, run out of a stylish 12th-floor office in (where else?) Bentall Centre’s fourth tower, will spend a planned total of $100 million over 35 years.
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Last June, Frank Giustra made an astonishing public announcement: he was donating $100 million and half of his future mining earnings to a radical global initiative to battle poverty. The event ushered in a new era of giving in B.C., one that thrives on publicity and competition. In other words, it’s all about business. Only this time it’s all about who gives, not gets, the most.
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