How philanthropy benefits the super-rich

As philanthropists give billions to charitable causes, inequality keeps rising around the globe. Why? Nearly three-quarters of the world's 260,000 philanthropy foundations have all been established in the last two decades. The fascinating complexity of private philanthropy is, however, that for many it's transferring power from democratically elected politicians to self-driven billionaires. In the Guardian, Paul Vallely contemplates what this could mean for the world's future.