Maybe after realizing that they already own half of the world, billionaires are sharing half of their wealth to humanity. Microsoft founder Bill Gates and investor Warren Buffet are two of the forty American billionaires to have pledged to give at least half of their fortunes who are worth a combined $90bn (£56.6bn) and have persuaded 38 of their fellow billionaires to pledge their money to charity, either in their lifetime or after they die.
Among the latest to join is New York Mayor Michael Bloomberg, who is worth $18bn (£11.3bn) and Star Wars Director George Lucas.
Others on the list include entertainment executive Barry Diller ($1.2bn, £775m), Oracle co-founder Larry Ellison ($28bn, £17.6bn), energy tycoon T. Boone Pickens ($1.1bn, £692m), media mogul Ted Turner ($4.8bn, £3bn), banker David Rockefeller ($2.2bn, £1.3bn) and investor Ronald Perelman ($11bn, £6.9bn). They join Eli Broad, who made his money in property, venture capitalist John Doerr, media entrepreneur Gerry Lenfest and former Cisco Systems Chairman John Morgridge in supporting the effort.
In the US alone has 403 billionaires, the most of any country, and all together they have a combined fortune of $1.3 trillion. Far exceeding some third world countries in annual budget.
Buffett said: “We’re delighted that so many people are doing just that – and that so many have decided to not only take this pledge but also to commit to sums far greater than the 50% minimum level.”
It is nice to know that rich are doing something to alleviate poverty or at social causes that can make a word a better place to live in. What I am looking forward is for this Billionaires share how they become rich, so that they will become more an inspiration rather than seeing them as piggy banks.