When Gates and others push to have ALL of their money given to philanthropy, I just shake my head and say what fools. It will be spread around and do little good.
OTOH, ppl like Paul Allen is the one that pushed the cable companies to carry the internet. Likewise, he funded Scaled Composites jump into the X-Prize and winning it. This was the real start of private space going forward.
Now, we have Ellon Musk building up companies such as PayPal, Solar City, Tesla, and SpaceX.
Between these 4 companies, he employs more than 100K ppl. BUT, more importantly, all 4 have changed society for the better.
Paypal helped bring retailing to the net. Prior to paypal, few wanted to put their CCs on the net (in fact, only idiots did).
Solar City was key to bringing down the costs of solar installs. The reason is because they focused on getting the INSTALLATION to be cheap and fairly quick, while buying from various makers and forcing their prices way down. Now, they are building MULTIPLE factories that will do 1GW/year of solar modules.
Tesla has forced ALL of the other car companies to produce hybrids and electric cars. In fact, Tesla has made such an impact on the car makers that all of the majors are banding together to push fuel cells. In the mean time, Tesla has installed over 300 super chargers around the world, and will almost certainly have 600-1000 units by end of next year. In the mean time, they are busy producing a line of factories in which the first one will more than double the production of li-ion batteries.
Now, he has SpaceX which has created the world's cheapest launch system. But, he is not content to stop there. He is working on recovering the first stage of F9 and 3 stages of FH. If this is successful, then sometime next year, he will cut the prices up to 50% off. And again, he is not interested in stopping there. He is instead focused on creating a rocket that will launch 200+tonnes to LEO, so as to send ppl to the moon and mars. All of this is forcing other companies and govs. to change.
The author has a point that many of the billioniares are doing NOTHING productive with their money. The right solution is to drop taxes on new companies that are solving issues. This would encourage others to jump into these kinds of ventures. And it far far better to have 8 failures combined with 2 successes in new arenas, then to simple have the money sitting around doing nothing.