Liberals often decry corporate greed, but a new report showed that the largest corporations donated $4.8 billion in charity. Three of the highest donating firms were typical media targets: Exxon, Walmart and Goldman Sachs.
According to a June 1, 2016, report from the Chronicle, charitable giving among large U.S. corporations increased in 2015, with much of the donations going towards “community projects.”
Sixty-eight of the nation’s largest corporations increased their cash donations by 2 percent to $4.8 billion in that year, with drug companies and financial institutions driving the increase.
Walmart, ExxonMobil and Goldman Sachs took three of the top four spots for donations. Combined, the companies gave almost $850 million in cash donations in 2015.
ExxonMobil, whose profits have received intensive media attention in the past, gave $268 million to charity. $276 million came from Goldman Sachs, which was targeted by NBC and ABC following the 2009 TARP bailouts.
Walmart’s portion was $301 million. In 2013, cable outlets responded to employees’ calls for higher wages by implying workers were comparable to civil rights activists, and by asking why the company couldn’t just share its profits.