It’s not often that you see the true power of philanthropy on a grand scale. Let’s consider ourselves lucky to see a movement like this in our lifetime.
From the AP:
Forty wealthy families and individuals have joined Microsoft Corp. co-founder Bill Gates and billionaire investor Warren Buffett in a pledge to give at least half their wealth to charity.
Six weeks after launching a campaign to get other billionaires to donate most of their fortunes, the chairman and CEO of Berkshire Hathaway Inc. released the first list Wednesday of people who have signed what he and Gates call “The Giving Pledge.”
Buffett decided in 2006 to give 99 percent of his fortune to charity. Then, he was worth about $44 billion. After five years of investment returns while making annual gifts to five foundations, Buffett’s fortune totals nearly $46 billion.
Bill and Melinda Gates do most of their philanthropic giving through their foundation, which had assets of $33 billion as of June 30 and has made at least $22.93 billion in total grant commitments since 1994.
Between Operation HOPE opening regional offices in Atlanta to media mogul Ted Turner being among the first billionaires to publicly speak out on his contribution to the pledge, it’s been a good week for Atlanta’s charitable community. Others who have signed the pledge include filmmaker George Lucas and Microsoft co-founder Paul Allen.