Philanthropy is often considered an unproblematic way for individuals (and especially the rich) to benefit recipients and society by "giving their money away." But philanthropy also gives donors influence and authority, and these powers can be subject to criticism on democratic and egalitarian grounds. This dissertation frames philanthropy as one way in which private money can shape public options and the choices open to individuals. In light of this, it asks what kinds of regulation of philanthropy are appropriate for states committed both to liberal rights and to some vision of equality.