Billionaires around the country joined forces today to join Microsoft founders Bill Gates and Warren Buffet in a huge philanthropic move. “The Giving Pledge,” founded by Gates in June, encourages the world’s most wealthy, like Laura and John Arnold, one of the world’s youngest billionaires, to give away their fortunes by the end of their lives or after their deaths. It makes sense — these people have way more money than they know what to do with, and by giving it away to charitable organizations, they’re ensuring their fortunes continue to make a difference even when they’re long gone.
What do the wealthy have to say about their contributions?
NYC Mayor Michael Bloomberg insists it’s great for kids, and says that supporting organizations for a better life will “create a better world for [kids] and their children. And by giving, we inspire others to give of themselves, whether their money or their time.” And previously-mentioned hedge-fund manager John Arnold views his wealth as an “instrument” for “positive change.”
With all the bad going on in the world, it’s nice to see others giving to the future and beyond. What do you think of their decision?