You don't have to be the richest man to do this. Anyone with independent civil capacity can.

But just like running a company, whether you can maintain the normal operation of a foundation is another matter.

The biggest difference between foundations and companies is that foundations are basically non-profit organizations, while companies are profit-making organizations, so we see many companies in society, because everyone wants to make money and make a living, but there are not many foundations.

In the past, foundations were generally founded by celebrities using their appeal. Later, with the rapid development of the national economy, more and more rich people in the society are willing to come out and form foundations.

The main purpose of the foundation is to engage in social welfare undertakings. There are many such charitable funds in developed countries such as the United States. The funds of the foundation need to be raised and invested, but their profits are used for social welfare, so there is not much profit surplus.

Charitable funds bear certain social public welfare responsibilities, so the government gives tax relief to such institutions. But you still have to register with the government and accept supervision.

Because charitable foundations have tax relief, some rich people want to set up charitable foundations and use their capital profits for social welfare, so that they can get spiritual satisfaction, social respect and the continuation of family fortune (with tax avoidance function).

Developed countries with small governments, such as Europe and the United States, are also willing to let the rich pay for public welfare, save the huge social welfare expenditure and cost consumption of the government, and let the society operate healthily.