Philanthropy Is a Civic Duty, Says Investor

 
Paulo Passoni is a specialist in investments in emerging markets and, for years, the director of Third Point LLC, he is also a social investor. His donations go to non-profit organizations that work to develop education and prepare leaders for political life in Brazil. Passoni considers philanthropy a civic duty and says business leaders need to do their part. Check the interview.

1. What motivates you to give?

Causes that I believe in could make a difference to the country as a whole. When I make an investment, I ask myself: will it work? Obviously, I make [the investment] because I think there’s a good chance it’s going to work, especially in the long run.

2. What causes do you support?

[I support] Fundação Estudar and Renova Brasil. Fundação Estudar because I believe in the difference that individuals can make in almost everything and in the powerful effect of role models. Renova Brazil because remaining silent in the political arena is accepting that those who do not stay decide for you.

3. What is the importance of philanthropic investment?

We have a very poor philanthropic culture of investment. At the beginning of my career, I find it reasonable to donate between 2% and 5% of net tax income. At the end of my career, at least 10%. There aren’t many excuses to not do that. We have many business leaders who are very egocentric and do not carry out their civic duties.

4. What is the return you expect from your donations?

The organizations I contribute to have performance indicators (KPIs) and I hope they continue evolving those goals.

5. Do you recommend others to donate too? Why?

To stop complaining about things that do not work and do something about it. I think it also brings individual happiness.

Paulo Passoni

Paulo Passoni at XII BrazilFoundation Gala NY
Credit: Guest of a Guest