It’s almost a dream scenario: 40 of the world’s billionaires make a simple pledge to donate at least half of their immense fortunes to charity. But this week, this almost unbelievable act of altruism is officially reality — and the world can only begin to envision how many millions of people and places will benefit from their amazingly selfless promise.
On Wednesday, power philanthropists and seriously rich dudes Warren Buffett and Bill Gates announced that they recruited 38 other members of their billionaires club to donate at least 50 percent of their vast wealth to worthy causes. Their effort, known simply as The Giving Pledge, is expected to raise upwards of $150 billion — yes, BILLION.
According to Bloomberg, Buffett said he personally contacted 70 to 80 US billionaires regarding The Giving Pledge.
“It was a very soft sell,” Buffett explained, and added that their generosity did not seem to be motivated by the tax breaks.
So just who are some of these wealthy individuals who have made this most awesome pledge? The list includes:
- Michael Bloomberg: Big Apple mayor and majority owner of Bloomberg L.P. has long had a generous streak. According to The New York Times, the self-made billionaire was the biggest giver in the US in 2008 — a whopping $235 million — so his pledge makes perfect sense. “I’ve always thought that the best thing to do is to make the world better for your kids and your grandkids rather than just give them some money,” said Bloomberg, who joined Buffett on a conference call about The Giving Pledge on Wednesday. “Sure, everybody that’s wealthy wants to leave their kids enough money so that they will never be destitute, but I always wanted to make sure that you don’t leave them so much money that it ruins their lives.”
- T. Boone Pickens: The Southern energy guru explained in a letter that although he enjoys making money, giving it away “is a close second.” He’s already donated $800 million to a number of charitable organizations, and the goal-oriented guy said he looks forward to hitting the $1 billion donation mark.
- George Lucas: Unless you’ve spent a lifetime in outer space, you no doubt know Lucas as the man who created the Star Wars franchise (and since he’s being so charitable, we’ll forgive him for those prequels). Lucas says he made the pledge to donate the majority of his wealth to education. He has already created Edutopia/The George Lucas Educational Foundation and said in a letter that, “as long as I have the resources at my disposal, I will seek to raise the bar for future generations of students of all ages.”
- Barron Hilton: Paris Hilton‘s grandfather’s pledge to Gates and Buffett simply reiterated the pledge he made on his own in 2007 to donate 97 percent of his fortune to the humanitarian work of the Conrad N. Hilton Foundation. According to Hilton’s letter to The Giving Pledge, the foundation focuses “on a need, find the right people or organization to fill that need, and then provide enough funding to create real systemic change.”
- David Rockefeller: The Rockefeller name has long been associated with vast wealth, but it has also been associated with vast charity, and this latest pledge cements the family’s dedication to philanthropy. Per Forbes, Rockefeller is believed to be personally worth about $2.2 billion and has given generously to causes including the Museum of Modern Art, which benefited from his $100 million gift in 2005. Rockefeller said he made The Giving Pledge because, “our family continues to be united in the belief that those who have benefited the most from our nation’s economic system have a special responsibility to give back to our society in meaningful ways.”
What to see who else has made this most generous pledge? Click here for the full list.
Photo by ZoofyTheJi via stock.xchang.