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Posts Tagged ‘The Giving Pledge’

Gates, Buffett Giving Pledge Gets Richard Branson, 11 Overseas Billionaires To Donate Half Fortune

Posted by Ram Kumar Shrestha on February 20, 2013

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Branson

Richard Branson, ever the pacesetter, is piloting something new — but it has nothing to do with travel.

The founder of Virgin Group and his wife, Joan, are part of the first cohort of non-U.S. billionaires who have signed up to give away half their wealth to charity through the Giving Pledge.

Twelve signatories from countries including Russia, South Africa, Australia, Germany, India, the United Kingdom, Ukraine and Malaysia have signed on to the non-binding moral contract started by Warren Buffett and Bill and Melinda Gates in 2010. The pledge aims to give wealthy people more authority over where their fortunes are donated during their lifetime.

The Giving Pledge initially included only U.S. billionaires because, as Buffett told Forbes, “I felt we had our hands full in the U.S.”

But going international was no easy task, Forbes reported. Gates and Buffett held dinners with deep-pocketed leaders in places such as China and Saudi Arabia, encountering cultural barriers such as a desire to preserve family wealth.

Differences aside, many of the benevolent billionaires decided to give for the same reasons U.S. pledgers donate: Newly enlisted international signatories said they see giving back as integral to their business ventures. Read the rest of this entry »

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