I don't understand what you gain by using the term "philanthropic investing" over "charity" if there are no monetary returns.

Edit: I'm just trying to understand why you think it's more precise to label what Bill Gates is doing as "philanthropic investment" as opposed to "giving money away."

I should clarify that I don't really have a horse in the race; I was just providing an example of why "giving money away" might be in quotes.

For example, consider the following scenarios:

  - I pay for my college.
  - I pay for my son's college.
  - I pay for my niece's college.
  - I pay for a stranger's college.
  - I pay the university directly so that more strangers can attend.

Most people would be comfortable calling the first "investing" in yourself, and would think it ludicrous to call it "giving money away." Probably still mostly true for the second (though some would have switched camps). What about the fourth?

It doesn't seem like there's a hard line anywhere. Probably just two ways of looking at the same thing, which for me anyway has an effect on how I use my money (I don't want to "give it away" but am happy to "spend it" on making others' lives better).