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Scottish oil tycoon reprimanded American billionaires for not donating outside the US - Business Insider

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A 77-year-old Scottish oil tycoon used his time on stage at a high-profile NYC philanthropy event to reprimand American billionaires for failing to donate money to countries outside the US

International giving comes with legal and cultural challenges. Wood acknowledged this fact, but noted that since most philanthropists are also successful businesspeople, they should be able to figure out how to use their existing knowledge to make it work.

"The dollar, in the very poor areas, would have a much greater obvious impact in terms of any measure as opposed to what happens at home and there are so many needy areas," Wood said. Wood's criticism aside, a handful of prominent American billionaires have made international work a key part of their philanthropic agendas. Just look at Bill and Melinda Gates: Several of their largest projects have been outside the United States, Business Insider previously reported. The couple

 

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