In the past two decades, global health governance has undergone a quiet revolution, shaped less by sovereign states and more by the growing influence of private capital. The World Health Organisation (WHO), once envisioned as the democratic engine of international public health, has increasingly come to rely on large-scale philanthropic foundations. This shift toward what is now commonly termed 鈥攚here billionaire-funded entities use business strategies and methods to tackle social and environmental challenges鈥攈as profound implications. It is not just a matter of money, but of power, accountability and legitimacy. Amid what many now describe as a , the WHO鈥檚 growing dependence on a handful of wealthy private actors has exposed deep cracks in the system of multilateralism upon which it was founded. Thus, philanthrocapitalism is undermining democratic global health governance by concentrating power in the hands of the wealthy and eroding public accountability.
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