To what extent do philanthrocapitalist approaches to racial justice either perpetuate or dismantle structures of racial inequality?

This thesis interrogates the power and limitations of philanthrocapitalism in the pursuit of racial justice. Contemporary philanthropy often prioritises impact-oriented solutions whilst subordinating racial equity. As a result, this study employs a Critical Discourse Analysis that is grounded in Critical Race Theory to examine the publications and grantmaking documents from three US-based foundations: Bill & Melinda Gates, Ford and W.K. Kellogg. The results reflect how language, engagement with Critical Race Theory, and community collaboration influence the advancement, or neglect, of racial equity. The findings reveal that the Ford and Kellogg Foundations, who centre racial injustice in both research and practice, are able to create structural reform through the mobilisation of community voices. Meanwhile, the Gates Foundation reframes racial inequity through distortive prisms, such as diversity, rarely converting internal critique into substantive reform. By mapping the discourse and operationalisation of racial equity agendas, this thesis finds that only foundations willing to foreground race, empower communities and engage in critical self-reflection are able to achieve catalytic change. This paper offers a framework for reimagining philanthropy’s role in advancing transformative racial justice, arguing that discourse must be substantiated with a recalibration of power, practice and purpose.