Billionaires Pledge to Give Away Most of Their Fortunes

Strategic Insights -

Mark Zuckerberg and 16 other wealthy US individuals and families have joined a pledge started by billionaires Warren Buffett and Bill Gates to give away most of their fortunes, bringing the total number of participants to 57. The Giving Pledge project aims to persuade billionaires to commit more than half of their wealth to philanthropy. The group, which includes investor Carl Icahn and AOL co-founder Steve Case, will meet with billionaires from other countries to expand the philanthropic effort.

Key Takeaways:

  • 17 wealthy US individuals and families, including Facebook CEO Mark Zuckerberg, have joined the Giving Pledge project.
  • The project was started by billionaires Warren Buffett and Bill Gates.
  • The total number of participants has risen to 57.
  • The Giving Pledge aims to persuade billionaires to commit more than half of their wealth to philanthropy.
  • The group includes investor Carl Icahn, AOL co-founder Steve Case, and previously announced participants such as Microsoft co-founder Paul Allen and filmmaker George Lucas.
  • Mark Zuckerberg, worth $6.9 billion, believes people wait until late in their career to give back.
  • Bill Gates and Warren Buffett will meet with billionaires from other countries to expand the philanthropic effort.

Statistics:

  • 17 billionaires have joined the Giving Pledge project in the US.
  • 57 billionaires have joined the Giving Pledge project in total.
  • The Giving Pledge aims to persuade billionaires to commit more than 50% of their wealth to philanthropy.
  • Mark Zuckerberg is worth $6.9 billion.
  • The project was started in June, and the number of participants has risen to 57 by Thursday.

Sources:

  • Bloomberg News
  • Forbes magazine
  • Waterloo Region Record (2010)