No, Social Security is a bad example. It is actually not subsidized. It does not do much wealth redistribution. Yes there is some from rich to poor, but mostly it moves wealth from your present self to your future self. Since the money that it puts aside for the future is a huge amount, the government borrows it, paying some interest. It's a much safer deal for Social Security than all these schemes to privatize it by putting those savings into the stock markets.
If Social Security money is ever placed in the stock markets, we will see the biggest yet pump and dump scam in history. The last few times that calls to privatize Social Security grew loud were just before stock market crashes. We've all heard their noises. They whip up studies that claim Social Security is not solvent and will go bankrupt, and we must do something like cut benefits and lower payments, or raise the retirement age, or
Billionaires really have a poor track record on philanthropic investing. They simply cannot use the money as effectively as a swarm intelligence. Warren Buffett jumped on Bill Gates' bandwagon because he realized he couldn't donate effectively on his own, and thought a smart tech guy like Gates could do a better job. He was half right. We see that Gates is struggling to make his donations mean something. Finding cures for terrible diseases is certainly noble, especially if they pull it off. But can they? History suggests not. They're trying for too much and going for the glamorous rather than the practical. In the past, we've seen such white elephants as the Bass Brother's Biosphere 2, and largely useless stunts and entries for the Guinness Book of World Records like balloon flights around the world and skydiving from great heights. It's a lot like the desire to put a man on Mars. Very impressive if it can be done, but at what cost? Is it worth it? Look back at some of the things envisioned in the 19th century, a sort of steampunk colored view. And one of the big dreams of the mid 20th century was the flying car. How much effort was wasted trying to turn that idea into reality? Similarly, there was and still is the jetpack. The savvier, smarter billionaires invested in people, like the railroad tycoon Stanford did in the creation of Stanford U.
Now it seems likely we will see self driving cars and electric cars before flying cars. We will have flying cars, just as soon as our devices can approach birds' or insects' mental abilities to handle flight, and our materials improve even further on the strength to weight ratio, and we figure better ways to store and release energy.