Philanthropy is facing a crisis with the tax-and-spending bill targeting wealthy donors and the social safety net. Iconiq, the wealth manager that counts Mark Zuckerberg as a client, gets entrepreneurs to band together to tackle global issues like climate change. Iconiq’s Matti Navellou told CNBC that the firm has gotten $900 million out the door in less than a decade and described how the process works. Meta CEO Mark Zuckerberg and Square CEO Jack Dorsey. Manuel Orbegozo | Handout | Reuters
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Even as tax changes may reduce giving by the wealthy, a leading investment firm is pioneering a new model of philanthropy that could