Post by rmarks1 on May 28, 2019 21:36:19 GMT -5
MacKenzie Bezos isn’t the only one signing away a big chunk of her fortune. On Tuesday, 18 other philanthropists joined Bill Gates and Warren Buffett’s Giving Pledge, an initiative started in 2010 that asks wealthy individuals to give more than half of their net worth to charity. Though Jeff Bezos’ ex-wife has the most to give—at Amazon's current market cap of $904 billion, her 4% stake is worth around $36.1 billion—other high profile billionaires like Paul Tudor Jones and Brian Acton have also inked their commitment to philanthropy.
The Giving Pledge is not binding—there is no enforcement mechanism, and the assets can by given away while a signatory is alive or after he or she dies. Though many of those who sign the pledge are already philanthropically active, some are just beginning the process. Bill and Melinda Gates and Warren Buffett recognized that peer pressure among the ultra wealthy can lead to more giving and that this group can learn from each others’ experiences. ...
With today’s additions, the Giving Pledge, which started with 40 members in 2010, now has 204 signatories from 23 countries.
www.forbes.com/sites/jenniferwang/2019/05/28/the-whatsapp-cofounder-crypto-pioneer-venture-capitalist-and-other-billionaires-who-signed-the-giving-pledge/#296f821db72f
The Giving Pledge is not binding—there is no enforcement mechanism, and the assets can by given away while a signatory is alive or after he or she dies. Though many of those who sign the pledge are already philanthropically active, some are just beginning the process. Bill and Melinda Gates and Warren Buffett recognized that peer pressure among the ultra wealthy can lead to more giving and that this group can learn from each others’ experiences. ...
With today’s additions, the Giving Pledge, which started with 40 members in 2010, now has 204 signatories from 23 countries.
www.forbes.com/sites/jenniferwang/2019/05/28/the-whatsapp-cofounder-crypto-pioneer-venture-capitalist-and-other-billionaires-who-signed-the-giving-pledge/#296f821db72f
Nothing really new here. The ultra rich have been giving away their money to charity and other worthy causes for over 100 years. Andrew Carnegie for example:
During the last 18 years of his life, he gave away about $350 million to charities, foundations, and universities – almost 90 percent of his fortune.[5] His 1889 article proclaiming "The Gospel of Wealth" called on the rich to use their wealth to improve society, and stimulated a wave of philanthropy.
en.wikipedia.org/wiki/Andrew_Carnegie
en.wikipedia.org/wiki/Andrew_Carnegie
Please note that there is no moral requirement that rich people to give away money that they earned legally.
For example, there is no record of Steve Jobs ever contributing to charity. So what? The products from Steve Jobs' company revolutionized our society and provided over 30,000 jobs for his employees. Jobs' business activities already improved the World and that was not even his goal! He owes the World nothing.
The charitable contributions that millionaires and billionaires choose to make in addition to to the contributions made through their normal business activities are icing on the cake.
Bob
