There's effective philanthropy and then there's performative philanthropy.

First off the rank, Bill Gates, is genuine (to the best of my knowledge) in his efforts to address global disease etc. In this he appears to be relatively effective in the sense that much of the money going in to this venture is having an on the ground real world spend on the target problem.

Then there's performative philanthropy.

How the Ultrawealthy Use Private Foundations to Bank Millions in Tax Deductions While Giving the Public Little in Return

https://www.propublica.org/article/how-private-nonprofits-ul...

    It’s a simple bargain: The rich get huge tax breaks by donating art, property and company shares to benefit the public. But some donors collect millions while offering little or no public access.

There are many such articles and there are a number of variations on a theme; money goes to Foundation, Foundation has high costs for services provided by other companies owned by family and friends, money is recirculated within a closed system with less money going to any actual charity work than taxes that might other wise be paid. Throw in a bit of dark money laundering, buying fame and good will, etc.

There are real philanthropists, there's also a lot of other activity masquerading as charity.