In a world where the rich and powerful are often perceived to hold too much wealth and control of resources, some billionaires have diverted themselves to a different course.
These successful people have pledged to give up a large portion of their fortunes, declaring that with excess wealth comes responsibility.
1. Warren Buffett
Warren Buffett, renowned investor and owner of “Berkshire Hathaway,” is known for being the most charitable billionaire. With a net worth of almost $100 billion, he ranks fifth among the richest men. Buffett has promised to give away 99% of his wealth to worthy organizations. He advocates for several causes, including health and education. In November 2023, Buffett gave more than $900 million to charities.
In addition, he has contributed significantly to family planning and initiatives like Planned Parenthood. Furthermore, he donated more than $39.3 billion to the Bill and Melinda Gates Foundation.
2. Bill Gates
Bill Gates is undoubtedly one of the most well-known among the billionaires on the list. It is estimated that he is worth $120 billion. Along with Melinda, he established the richest foundation globally, known as the “Bill and Melinda Gates Foundation.” The three most significant charitable endeavors that this foundation supports are education, global health, and poverty reduction.
Over the last twenty years, the foundation has donated about $53.8 billion, giving away 5% of its assets annually. In 2020, Bill Gates declared that he would donate all of his wealth to the Bill and Melinda Gates Foundation over the following twenty years.
3. Mark Zuckerberg and Priscilla Chan
Mark Zuckerberg, founder of Facebook, has a substantial net worth of $177.4 billion. He has pledged to donate 99% of his Facebook shares, which are valued at over $45 billion.
He and his wife, Priscilla Chan, established the Chan Zuckerberg Initiative, which mainly focuses on education, research, and the housing crisis. To date, the initiative has donated over $3 billion to the cause.
4. George Soros
George Soros, the hedge fund founder, has donated over $21 billion and pledged most of his wealth. He founded the Open Society Foundations, which has given millions of dollars to educational grants and projects that support human rights, democracy, and social justice. Soros’s net worth is around $8.6 billion.
5. Pierre Omidyar
The creator of eBay, Pierre Omidyar, and his wife have pledged to donate a majority of their money through the Omidyar Network. With a net worth of over $13 million, Pierre and Pam are one of the founding members of the Giving Pledge. They have contributed almost $4 billion so far.
6. Elon Musk
Billionaire CEO of SpaceX and Tesla, Elon Musk, has communicated his dedication to philanthropy and has pledged to give away most of his $230 billion earnings. Musk has committed substantial money towards addressing global issues and renewable energy solutions, while the precise number is always shifting.
Because of his emphasis on space travel and colonization, Musk founded the Musk Foundation to support advances in science and technology. He has been a tax-deductible stock donor since 2020, when his organization was one of the biggest in the nation, having received donations of over $7 billion in stock at that time.
7. Larry Ellison
With a net fortune of more than $100 billion, Oracle co-founder Larry Ellison pledged to give 95% of his wealth to charities. Ellison donated $200 million to a cancer treatment facility. His commitment to improving healthcare includes funding medical research. Larry Ellison has also made contributions to organizations that help save endangered species.
8. Phil and Penny Knight
Co-founders of Nike, Phil Knight, and his wife, Penny Knight, have pledged to donate the majority of their fortune. They created Knight Foundation funds for initiatives in science, medicine, and education.
The main focus of this foundation is on programs that promote exercise and a healthy lifestyle. Through this, they donated more than $212 million in 2022. They have a net worth of over $40 billion.
9. Michael Bloomberg
Michael Bloomberg, a former mayor of New York City, established Bloomberg Philanthropies. His charitable initiatives span the environment, education, and public health. Because of Bloomberg’s dedication to addressing climate change and clean energy, environmental conservation has profited substantially through significant financial support.
In 2023, Bloomberg Philanthropies contributed $3 billion in international investments. Michael Bloomberg has donated $17.4 billion to charities so far in his lifetime.
10. Sara Blakely
Sara Blakely, founder of Spanx, was the youngest self-made female millionaire and is estimated to be worth $1.3 billion. As part of her philanthropic Efforts, she fosters companies and empowers women through the Sara Blakely Foundation.
Blakely additionally concentrated her efforts on expanding women’s access to education and career training. Spanx reserves a portion of its annual income for charity. The company has a program called Leg-Up, in which it offers free products manufactured by female entrepreneurs.
11. Richard Branson
With an estimated wealth of $6.5 billion, business entrepreneur Richard Branson has committed his billions to charitable causes and helping others strive for his level of business success. Entrepreneurship for social causes and environmental sustainability are two of his passions.
With the Virgin Oceanic project, Branson expands his efforts into ocean conservation by exploring the world’s waters. He has raised $40 million for charity and donated $415 million to Virgin Business to protect jobs.
12. Jeff Bezos
Jeff Bezos, the creator of Amazon, has made a major charitable pledge. The Bezos Earth Fund will allocate billions to programs that combat climate change and foster creativity. Thus far, Bezos has given $640 million to 48 organizations with state-based headquarters.
His net worth is more than $200 billion.
13. Steve and Connie Ballmer
Steve Ballmer is the former CEO of Microsoft, and his net worth is reportedly over $100 billion. Steve and his wife, Connie Ballmer, created the Ballmer Group, which supports improving education. They announced that they would donate $175 million over seven years to Strive Together, which provides counseling and other assistance to kids in need.
Steve and Connie Ballmer have pledged over $425 million for the mental health of children.
14. Ted Turner
Ted Turner was awarded Man of the Year by the United Nations Association in 1997. With an estimated net worth of $2.5 billion, he is well-known for creating the United Nations Foundation. Turner made billions as an entrepreneur, media mogul, and CNN founder.
Turner, like many billionaires, has pledged most of his wealth with “The Giving Pledge” initiated by Bill Gates and Warren Buffett.
15 Larry Page and Sergey Brin
Google co-founders Larry Page and Sergey Brin, who have a whopping net worth of over $100 billion, have pledged their wealth in the “Giving Pledge.” Sergey Brin has donated $600 million worth of Alphabet shares.
READ MORE FROM US
