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When you are as wealthy as Bill Gates, Warren Buffet or Richard Branson, you know that you can’t take it all with you. Considering that these three multi-billionaires have amassed more wealth than many third world countries are worth, it’s naturally fitting that they are all share something else in common aside from their riches: They are all members of the Giving Pledge, a foundation that was created by Gates and Buffet that has attracted many billionaires in the U.S. who all pledge half of their wealth to charity upon their death.
Now, Branson is among one of the dozen of foreign billionaires to join the club. All said, the philanthropic notion has already attracted more than 100 families that are amongst the most powerful and wealthiest families in the world today. Previously, the Giving Pledge was mostly focused on the U.S. But wealth is wealth, and giving is giving, so why not expand this wonderful foundation to the worldwide stage.
“As a young man, I never set out to make money,” Branson noted in his Pledge Letter. “We set out to create things that we could be proud of and try to make a difference.”
A few other notable foreign donors include: Andrew Forrest, Ukrainian businessman Victor Pinchuk and German entrepreneur Hasso Plattner.
When summating the reason why they (Branson and his wife, Joan) decided to join the Giving Pledge, they referred to their money as merely “stuff” in their letter.
“Stuff’ really is not what brings happiness. Family, friends, good health and the satisfaction that comes from making a positive difference are what really matters,” Branson and Joan wrote.
“We want the value created by the Virgin Group to be used to invest in new collaborative approaches to addressing issues, where business, governments and not-for-profits join forces to create a healthy, equitable and peaceful world for future generations to enjoy,” they added.
During a newspaper interview about a year ago, Gates emphasized his stance on money and giving, “Money has no utility to me beyond a certain point. Its utility is entirely in building an organization and getting the resources out to the poorest in the world.”
Of course, it’s easy to say that money has no utility when you are worth an estimated $66 billion dollars. Then again, deciding to give it all away to the poor is a very noble undertaking. Getting more than 100 of the richest families in the world to agree with you is nothing short of uncanny.
Our hats off to all of the gents and madams at the Giving Pledge.
