Wyclef Jean and Madonna provide cautionary tales for stars thinking about founding their own charity: "It's hard to keep raising money. It's hard to start and maintain your board," says Greg Propper, ...

The oil investor T. Boone Pickens has given $135-million to establish his own philanthropic foundation. Mr. Pickens, who founded an oil company in 1956 and an energy investment firm in 1996, has ...