EBay Founder a Philanthropic Powerhouse

The Omidyars' brand of philanthropy, based loosely on a venture-capital firm's approach, has been a powerful agent for social change, as eBay was for commerce.

The Omidyars' financial gifts often go to charities that follow solid business plans and produce earnings streams that sustain the non-profit work. "Think of it as a portfolio approach to doing social good," says Mike Mohr, who has been with the Omidyars since eBay went public in 1998, and who serves as strategic adviser to their philanthropic endeavors...

...Says Virgin founder Richard Branson: "Pierre is not just providing access to finance, he is also helping to create the right environment for social enterprises and new businesses to thrive." During research on his latest book, Screw Business as Usual, it became "inspiringly clear" that Omidyar "has been screwing business as usual for years."

"Pierre has been solving issues by supporting entrepreneurial organizations that are building businesses to solve problems," Branson says, citing Ushahidi, which developed crowd-sourcing technology. It's one of about a dozen fields that fall under the Omidyars' umbrella of good works. "Philanthropy is not just about money," Omidyar says. "Money matters, but impact matters more."...