Are Billionaires Solving the Wrong Problems? | Philanthropy, Private Wealth & Global Impact

In an age of enormous private wealth, who should solve humanity’s biggest problems? Michael Macfarlane @michaelmacfarlane-mma is joined by Kedge Martin and Jamie Webb for a strategic discussion on philanthropy, private wealth and global impact - produced in collaboration with @CharlesParkFamilyOffice. Kedge Martin previously advised Prince William and Prince Harry on their philanthropic strategy within St James’s Palace and worked closely with Prince Harry during his earliest patronages. Jamie Webb is Managing Director of the Global Philanthropists Circle and has spent decades advising major philanthropists, foundations and next-generation wealth holders around the world. Governments face fiscal constraints, political cycles and bureaucracy. At the same time, more than US$100 trillion is expected to transfer between generations over the coming decades - much of it controlled by entrepreneurial families and increasingly by Asia’s rising wealth creators. This raises a profound question: If private capital is already driving innovation in technology, medicine and business, could it also become one of the most important forces shaping the future of society itself? Philanthropy itself is changing. It is no longer simply about writing cheques or establishing eponymous foundations. Increasingly, modern philanthropy involves deploying a much broader set of resources: networks, influence, intellectual capital, reputation, visibility, entrepreneurial thinking, and long-term strategic commitment. In that sense, philanthropy is increasingly behaving less like charity - and more like venture capital for social change. Together, they explore: - Why philanthropy is evolving beyond traditional charity models - Whether billionaires are solving the wrong problems - Why entrepreneurial thinking may outperform institutional systems - The psychology of wealth, meaning and purpose - Why influence and visibility can sometimes matter more than money itself - The rise of Asian philanthropy and the changing geography of global influence - Why next-generation wealth holders approach impact differently - The tension between reputation, ego and genuine social good - How philanthropic “movements” are created - Why underserved issues often create the greatest opportunities for impact - How private wealth can create regenerative long-term change rather than short-term interventions The conversation also explores: - Prince William’s Earthshot Prize - Prince Harry’s early philanthropic work - The Prince’s Trust - Bill Gates and entrepreneurial philanthropy - MacKenzie Scott and trust-based giving - Family offices and next-generation philanthropy - The “Davos problem” - Regenerative philanthropy and systems-based impact - Why wealth often leads people to search for meaning The discussion also examines a broader structural shift now taking place globally: the emergence of private capital as a potentially transformational force in solving societal challenges at a time when governments and institutions increasingly struggle with complexity, speed and long-term thinking. Wealth Office X is built on a clear philosophy: that the future of wealth will be shaped by transformational technologies, globally mobile private capital and the strategic choices of those who deploy it. Each episode centres on a single defining theme and brings two world-class experts into exchange - often contrasting, sometimes challenging - to surface insight rather than consensus. The series is designed for those engaged in allocating, governing and deploying long-term capital, and focuses on how experienced decision-makers frame complexity, test assumptions and form conviction in an era of rapid technological and geopolitical change. Where the core Wealth Office series explores individual legacy, Wealth Office X examines the structural forces shaping the next era of value creation. Charles Park Family Office works with globally mobile families and principals navigating complex cross-border realities, supporting them across governance, strategic positioning and long-term legacy considerations. As the largest transfer of private wealth in history accelerates and philanthropy becomes increasingly global, entrepreneurial and intergenerational, their collaboration on this episode reflects a shared recognition that the future influence of private capital will be shaped not only by how wealth is preserved - but by how it is ultimately deployed. Chapters 00:00 Introduction 03:18 Royal patronage & philanthropy 09:52 Why the world still needs philanthropy 17:08 Reputation washing & billionaire criticism 24:41 Entrepreneurial philanthropy vs traditional charity 34:10 Women, wealth & philanthropy 40:58 The “Davos problem” 49:22 Next-generation wealth & global impact 59:10 Asian philanthropy & rising influence 1:09:44 Wealth, purpose & meaning 1:18:12 Regenerative philanthropy 1:26:02 Advice for next-generation philanthropists