The Generous Billionaires Club – Inquiring Minds Want to Know!
Charitable Nation has, from time to time, showcased various wealthy individuals who are to be admired for their generosity and systematic approach to philanthropy. (See, especially, Peter Lewis, David Geffen, Warren Buffett, John D. Rockefeller, Chuck Feeney and Lady Gaga) It can be both interesting and instructive to learn a bit about what makes these folks tick.
Now, the predictable response from the cynics among us is “Yeah, but did you know what a [nasty person] s/he was?” I can’t and won’t argue that – building and maintaining a fortune is not easy and those who do so tend to have somewhat aggressive personalities. And, in truth, the philanthropic impulses of some of the “1%” may be suspect, but I prefer to focus on the potential for good that results therefrom and give credit where credit is due. The philanthropy of the 1% has made a big difference in this world by being impactful and long-lasting. We can criticize the timing and/or amount of funding or the seemingly parochial views of some of the donors, but we must accept the fact that marketplace of philanthropic impulses is alive and well and made more vibrant by such generosity.
Several weeks ago, I received an e-mail from a reader directing me to a very interesting website, “The Generous Billionaires Club.” In this one website we can find information about the “Forbes Billionaires List,” “The Giving Pledge,” “Who’s Not Giving An Inheritance,” “Who’s Been Generous” and “Who’s Been Very Generous.” (Almost makes me want to break out in song: “he’s making a list, checking it twice, gonna find out who’s naughty and nice…”)
Some interesting factoids:
- According to the Forbes Billionaires List, 16 of the top 25 billionaires in the world are Americans but NONE of the 26 new tech billionaires are American.
- The silver spoons in the mouths of the progeny of guys like Bill Gates, Warren Buffett, Michael Bloomberg and T. Boone Pickens may be a bit tarnished – in their parents’ estate plans, inheritances are minimized and philanthropy is maximized. But, it’s not all bad – as Buffett has famously stated, he will give his children “enough money so they would feel they can do anything but not so much that they could do nothing.” In other words, the concept of “no” inheritance is relative.
- Of the top 10 folks who have given away at least $1B of their net worth over time, 2 of them (James Stower and Herbert Sandler) are no longer billionaires. Not mentioned in these statistics is Chuck Feeney, the co-founder of Duty Free Shops, who is definitely a former billionaire and whose private foundation, the Atlantic Philanthropies will have funneled $9B into charitable works by the time of it self-liquidation in 2016.
Whether you are a casual observer or an unabashed philanthropy geek, you can obviously have a lot of fun with these facts and stats. In any case, I hope the information contained therein is instructive and inspirational for us all, regardless of the number of zeros that follow the value of our charitable giving
