James Doty’s Helper’s High
He gave away his last $30 million and felt free — a case study in altruism
By Bonnie Tsui
James Doty is not a subject under study at the altruism research center that he founded at Stanford in 2008, but he could be. In 2000, after building a fortune as a neurosurgeon and biotech entrepreneur in Silicon Valley, he lost it all in the dotcom crash: $75 million gone in six weeks. Goodbye villa in Tuscany, private island in New Zealand, penthouse in San Francisco. His final asset was stock in a medical-device company he’d once run called Accuray. But it was stock he’d committed to a trust that would benefit the universities he’d attended and programs for AIDS, family, and global health. Doty was $3 million in the hole. Everyone told him to keep the stock for himself. He gave it away — all $30 million of it. “Giving it away has had to be the most personally fulfilling experience I’ve had in my life,” Doty, 58, said on a recent sunny afternoon at Stanford. In 2007, Accuray went public at a valuation of $1.3 billion. That generated hundreds of millions for Doty’s donees and zero for him. “I have no regrets,” he said.
So what exactly is wrong with Doty? Is it normal for a human being to commit a generous act that helps others and not himself? Or is his selfless act merely an act of veiled self-interest…
