Warren Buffett and 12 Other Billionaire Families Pledge Half Their Wealth To Charity

 

If you were a billionaire, would you join Warren Buffett and Bill and Melinda Gates in the The Giving Pledge?

According to Bloomberg.com, Warren Bufftett has been joined by 12 other families in pledging the majority of their wealth to charity:

The families include hedge-fund manager Bill Ackman and his wife Karen, Tesla Motors Inc. (TSLA)’s billionaire owner Elon Musk and film producer Steve Bing, according to an e-mailed statement from the initiative.

Arthur M. Blank, Edgar M. Bronfman, Glenn and Eva Dubin, Red and Charline McCombs, Michael Moritz and Harriet Heyman, John and Ginger Sall, Henry and Susan Samueli, John A. and Susan Sobrato, John Michael Sobrato, and Ted and Vada Stanley also signed the pledge.

Huffington Post reports:

[Bill]Gates and Buffett, the world’s second and third richest people respectively according to Bloomberg, started the pledge as an invitation to the country’s wealthiest — billionaires only — to give more than half of their money to charity. Among the notable billionaires to sign on is Mark Zuckerberg, who pledged in December 2010.

Given the great need in our world, and the incredibly disparate distribution of wealth in this country, this seems like an amazing thing… Billionaires peer pressuring one another to join in on the giving.

But what do you think? Is peer pressuring one another to give a good thing? Or does telling someone you’re doing a good thing just showing off?

If you were a billionaire, who would you give your billions to?

 

Photo: AP/Seth Wenig

Premium Membership, The Good Men Project

About Joanna Schroeder

Joanna Schroeder is the type of working mom who opens her car door and junk spills out all over the ground. She serves as Executive Editor of The Good Men Project and is a freelance writer whose work has appeared on sites like xoJane, hlntv.com, and The Huffington Post. Joanna loves playing with her sons, skateboarding with her husband, and hanging out with friends. Her dream is to someday finish her almost-done novel and get some sleep. Follow her shenanigans on Twitter.

Comments

  1. While I think this is a good thing for lots, I’d still like some of these guys to give it to the country that made them rich, and actually help alleviate some of the issues that plague the society at home. Being a little cynical, I do find myself wondering how much of this is being done out of ego, or for purposes of receiving tax benefits for doing so. While it may not be so easy to trust the governmental powers that be to be good stewards, I’m certain they could earmark the funds to go where it is needed and make members of their respective teams responsible for overseeing it’s dispersal. You know, like someone who needs a job.. What do you guys think?

    • “What do you guys think?”

      This annoys me to no end. Buffett calls for higher taxes on the rich, but wants to give his money to charity. Why doesn’t he just keep his money, let the government tax it at 55%, and it will do everyone so much better.

      He gave billions to charity a few years back and I thought, “you just deprived the federal government of billions of dollars they could have used to bail out a car company or something.”

      Mind you, I don’t like the tax code and I think the government taxes us too much. But, Buffett wants higher taxes and then avoids them in favor of “charity.” It is obvious he thinks he knows how to do more good with his money than the Government could. Otherwise, he would simply give more to the Government, instead of charity.

      He is just grandstanding. Grandstanding with the Buffett rule; grandstanding with this pledge. He is beginning to make Donald Trump look like a wallflower.

      -Jut

Speak Your Mind