Generosity Unveiled: The Philanthropic Paths of 3 Prominent Families
The rise of the family office reflects the desire for families to manage their own money instead of just handing it over to someone else – and this is increasingly reflected in families’ approach to philanthropy, as well. This article in Crain Currency examines the trend of family offices investing for social impact, with Wingspan’s Christina Wing discussing the Sabancıs, owners of Esas Group, one of Turkey’s largest family-owned investment firms.
Recognizing the persistent challenge of youth unemployment in Turkey, the Sabancı family embraced a strategy of investing for social good by promoting education, which would also benefit the Turkish economy in the long run. “People who are fortunate to attend top-tiered schools have connections to get jobs,” says Christina. “Esas took those who didn’t and put them through a one-year bootcamp, teaching them English, business skills and soft skills that people who grow up around a business have. They’ve created this legacy now where people who go through the training want to give back. It’s all about teaching someone how to fish, rather than giving them a fish.”
You can read more about the Sabancı Family and others in Crain Currency.
