Media Coverage
Media Coverage
Press Contacts: Erik Cummins, Matt Hyams, Taina Rosa, Olivia Thomas
06.10.25
In a bylined article published in Haute Living, Pillsbury partner Michael Kosnitzky, co-leader of the firm’s Private Client & Family Office practice, notes that families where wealth has already been made are no longer focused on how to preserve that wealth, but instead how to allocate it to philanthropic efforts in a meaningful way.
In the article, he uses a grocery store as an example. “Imagine a clean, well-run, full-service market in a neighborhood where nothing fresh has been available in years,” he writes. “You buy or build the store outright. Fund it privately. Staff it with local talent. Pay well. Price affordably. Offer real healthy food. And if needed, give it away entirely.”
For families with passive income, real estate gains, or carried interest, this kind of giving can be structured in a way that’s both legally sound, tax-efficient, and deeply satisfying, Kosnitzky notes.
Even if the store never makes a dime, Kosnitzky says it can be kept operational if it is funded from the heart in what he dubs “the most elegant loss you’ll ever take.”
Read the full article here.