Successful entrepreneurs have the financial capability to do whatever they want in life, live where they want, buy whatever material possessions they desire and travel the world. With success comes one more incredible ability — to support causes and organizations entrepreneurs feel strongly about. Philanthropy isn’t as sexy as Lamborghini’s and mansions, but it can be far more rewarding.
I was introduced to Luke Weil, founder of Andina Acquisition, a company focused on investments in the Andean region of South America. Weil is successful. He is the primary financial sponsor of the program and he is involved in all aspects of the process, including initial capital raises, target searches and selection, negotiation of terms and managing the go-public process.
While his success is great, it’s Weil’s philanthropy that impressed me the most. Weil is the co-founder of PlantMed, a U.S.-based 501c3 fundraising and awareness-raising vehicle that supports Rios Nete and aims to establish Amazonian medicine as a central pillar of medicine and healing. Weil recently co-founded LIMPIA, a 501c3, which means “clean” in Spanish, and stands for Long Island Marine Purification Initiative. The organization raises money and awareness around the issue of water quality, especially in and around Long Island, where Weil lives most the year.
When I asked Weil what prompted him to get involved, he said, “I came across problems or an unmet need, saw I could help and took action. This approach is no different than my non-philanthropic professional life. I feel there is a reason all of us walk the paths that we do, and along the way we will find unique ways to contribute. My goal with philanthropy is to not let these precious opportunities slip away.”
Philanthropy is something that all entrepreneurs should explore to some degree, myself included. I have always wanted to do something to help raise money for prostate cancer, which took my dad from us far too early. Here are five things we can all take away from Weil’s philanthropy.
1. Entrepreneurs are excellent problem solvers.
Most businesses are conceived because the founder wanted to solve a problem. I started my marketing agency because I…