Ya my old boss did this (the family foundation style). He was worth about $500M at the time I knew him. And ran his little "charity" that gave away 5% a year

Meanwhile all that money was managed by some hedge fund and was making 30% returns (this was '08, right before the Great Recession)

He owned the most expensive house in the Hamptons and had a private jet and complained about all the sycophants

We did get catered lunches by his personal chef every day at work, so I'm not complaining...