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Facebook billionaire gives millions of 'no strings attached' cash to poor people
Could direct payments to those who need it most be the way forward?
FACEBOOK CO-FOUNDER DUSTIN Moskovitz is giving $25 million (€22.8 million) to poor people in East Africa.
Moskovitz is donating the money through Good Ventures, a foundation he set up with his wife Cari Tuna.
According to Vox, most of the money ($16-19 million) will be distributed by GiveDirectly, a charity that sends unconditional cash grants of about $1,000 (about €910) each to poor people in Kenya and Uganda.
The rest of the money is expected to go on marketing and fundraising for GiveDirectly.
The idea of giving funds directly to the people who need them is seen by many as the way forward in helping the global south develop as it ensures the cash gets to those who need it most.
Vox notes that the organisation’s $1,000 grants are larger than the GDP per capita of Uganda. They more than double some peoples’ incomes.
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