Billionare’s Pledge Billions
Forty billionaires and their families have now pledged at least half their wealth to charity following the giving challenge from Bill and Melinda Gates and Warren Buffett. Some have pledged their entire fortunes or nearly all of them. The donors, who represent about 10% of the country’s billionaires, include George Lucas, Ted Turner, Michael Bloomberg, Paul Allen, T. Boone Pickens, David Rockefeller (all pictured below), and David Rubenstein (who spoke at a Bisnow event in December). Warren Buffett says they’re really just getting started.
In case you’re wondering what inspires a billionaire to give away half their wealth, we’ve compiled a few excerpts from some of their pledge statements. Read the full letters here.
T. Boone Pickens: I’ve long stated that I enjoy making money, and I enjoy giving it away. I like making money more, but giving it away is a close second… I’m not a big fan of inherited wealth. It generally does more harm than good.
Michael Bloomberg: The reality of great wealth is that you can’t spend it and you can’t take it with you… Making a difference in people’s lives – and seeing it with your own eyes – is perhaps the most satisfying thing you’ll ever do. If you want to fully enjoy life – give.
Ted Turner: I’m particularly thankful for my father’s advice to set goals so high that they can’t possibly be achieved during a lifetime and to give help where help is needed most. That inspiration keeps me energized and eager to keep working hard every day on giving back and making the world a better place for generations to come.
