The Ask: A Submission About Our Island Home

To the editor: We live in a time when $40 million is chump change for a growing segment of our wealthy population. We know them because they love to attach their names to various buildings, often on the campuses of prestigious universities. They like to own professional sports teams. Any billionaire you know? There are billionaires who own property in Nantucket, often two or more properties. I exempt from this discussion Wendy Schmidt, who has already done enough for Nantucket.

Often, the very rich choose to have property in Nantucket because they want the cachet. Nantucket is just one of many status symbols that they crave. So would it be too much to ask one or more of the Nantucket billionaires to show their love for
the island by donating $40 million for the construction of the new nursing home?

They might not have naming rights, but there could be a plaque on the new building thanking them for their generosity. There might even be a very big tax deduction for them. I can see a Wall Street Journal article about a billionaire helping save the town’s only nursing home. Wendy Schmidt long ago stepped forward to save Mitchell’s Bookstore, a Nantucket institution. Through ReMain, she has tried valiantly to keep Main Street and the downtown a vibrant part of Nantucket. She not only bought a beloved bookstore but renovated and upgraded the building that houses it.

At least one of the Nantucket billionaires seems to be spending a fortune to repair an image damaged by years in private equity. If they really wanted to make amends, they would invest in or donate to an enterprise that helps the most vulnerable among us. I cannot think of a better choice than a $40 million donation to Friends for the construction of a new Our Island Home.

All of Nantucket would be grateful.

Maureen Searle