Billionaire’s environmental philanthropy questioned after mining impact discussion
7 reported
A Vox reporter interviewed billionaire investor and philanthropist Tom Kaplan about his environmental giving, following his auction of a Rembrandt drawing for nearly $18 million to benefit Panthera, a wild cat conservation group he co-founded. During the conversation, Kaplan became defensive when asked whether his mining business conflicts with his conservation work. Kaplan, who made his fortune in metals mining and remains active in the industry, stated that mining has no detrimental impact on wild cats. Vox later interviewed four mining experts who disputed that claim. Kaplan declined further comment after initially agreeing to continue the discussion. The article notes that Kaplan is not alone among billionaires whose philanthropy coexists with environmentally harmful business activities.
What’s reported
Tom Kaplan auctioned a Rembrandt drawing for nearly $18 million at Sotheby’s in New York City in early 2026.
Kaplan is the founder and chair of The Electrum Group, an investment firm focused on mining precious metals, and chair of NovaGold Resources.
Kaplan told Vox that mining has “a very, very tiny footprint” compared to agriculture and climate change.
Four mining experts interviewed by Vox disputed Kaplan’s claim that mining has no detrimental impact on wild cats.
Panthera, the group Kaplan co-founded, lists mining as a threat to the flat-headed cat and the Andean cat.
The IUCN lists “mining and quarrying” as a threat to 19 cat species.
Kaplan declined to comment further after Vox shared a detailed list of its reporting with him.
Key figures
Tom Kaplan, billionaire investor and philanthropist, founder and chair of The Electrum Group, chair of NovaGold Resources, co-founder of Panthera.
Sara Herschander, Vox colleague of the reporter.
Stephen Prince, multimillionaire, vice-chair of Patriotic Millionaires.
Glen Galaich, author of “Control: Why Big Giving Falls Short,” CEO of the Stupski Foundation.
Jessie Bluedorn, philanthropist and environmental organizer, founder of the Carmack Collective.
Tamara Toles O’Laughlin, CEO of the Environmental Grantmakers Association.
Sources: vox.com
