After the harvest: A stewardship perspective on entrepreneurship and philanthropy

Entrepreneurs comprise the majority of the richest people in the world. Their venture exits, or more specifically harvests, often represent the events through which they accrue this great wealth. Following these harvests, entrepreneurs make critical decisions with their financial resources that can have a profound impact on society. Through content analysis of The Giving Pledge letters and in-depth interviews with entrepreneurs, we explore how and why entrepreneurs redistribute their resources following harvests, and we reveal four mechanisms - intrinsic motivation, identification, personal power, and stewardship norms - that drive these philanthropic decisions. We extend stewardship theory and highlight a new avenue through which entrepreneurs can act as stewards of others and address societal concerns.