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Because arts don't indoctrinate the youth with messages business moguls like and control, education does.
It's funny you mention that, because there is one new patron in tech who is making waves in NYC: Peter Thiel. The catch is, of course, that everything he finances goes through his ideological filter. And he's not being particularly generous either.
Thiel has put money into a series of small zines, a youth focused film festival, a small production company, a few very popular podcasts, and a feature film that just went to Cannes. None of it has made him any money because the target audience of edgy, sexy, artsy 20 somethings have rejected the technofeudalistic dogma that these works promote.
There was certainly a brief reactionary wave where young artists in LA and NYC rebelled against liberals for Covid restrictions and "corporate wokeness", but other than the occasional use of slurs, it never materialized beyond aesthetics and all but ended when Roe V Wade was overturned.
Lol I'm sorry what, this guy really spent his money on an anti woke film festival? Has he ever even been to a film festival? The whole point is wokeness. Really curious to see what Atlas Shrugged esque films he's financed, so I can make sure I run away from all the major plot points when they happen in real life.