Koch Brothers

Billionaires build new "benevolent aristocracy"

Illustration of a green crown made of folded dollar bills
Illustration: Aïda Amer/Axios

If charity is giving alms to the needy, then philanthropy is charity's more high-minded and strategic relation.

The big picture: Philanthropists don't want to give a man a fish; instead they want to take credit for building a proof-of-concept that will persuade governments around the world to invest in large-scale programs of fishing pedagogy.

Koch network admits defeat on anti-Trump trade war ad campaign

Charles Koch
Charles Koch. Photo: Patrick T. Fallon for The Washington Post via Getty Images

The network funded in part by billionaire and Republican megadonor Charles Koch is shifting gears in its efforts to combat President Donald Trump's trade war with China, CNBC reports, after sources told the outlet that its TV ad campaign has fallen flat.

Why it matters: Leaders of the network told CNBC that the argument they're selling to voters — that tariffs are costing American consumers — isn't resonating. "It doesn’t penetrate with the people that are willing to go along with the argument that you have to punish China," a senior Koch official told CNBC.