Zuckerberg and 17 Others Pledge To Give Millions
Facebook founder Mark Zuckerberg and 17 other very rich Americans have announced plans to dip into their private banks and give away the majority of their wealth after taking the Giving Pledge, an effort by Bill Gates and Warren Buffett to try and get Americas wealthiest individuals and families to commit to giving away a large percentage of their fortune. So far 40 people or families have said they will joing the Giving Pledge.
Of the 18 people who recently joined, 14 are members of the Forbes 400 list and they have a combined net worth of $38 billion. Other people who were also named on the new list of givers were Carl Icahn, Ted Forstmann and Dustin Moskovitz, Zuckerberg’s Harvard room mate and facebook co-founder, who is the worlds youngest billionaire. Carl Icahn is the richest of the newest donors ranking 24th on the Forbes 400 list, he has a net worth of $11 billion.
Some of the less willing to give away their millions will be dreading the day when Warren Buffett comes knocking at their door to discuss wealth management and charity giving, however the pledger’s won’t have to empty out their bank accounts straight away because to join the pledge the individual has to agree to give away the majority of their wealth during their lifetime or after their death. They also have to make a public statement and send a letter explaining their pledge decision.
With no money having to be given away that quickly or indeed even through the persons lifetime, this could seem to be more of a way to make the person look good in the media without it really effecting them much but Icahn says in his pledge letter
“I made a commitment over 20 years ago that substantially all of my assets would be used to fund a charitable foundation. Until Bill, Melinda and Warren started this project, I never considered going public with my intentions. However, I certainly see the value of a project that encourages wealthy individuals to step forward and commit to use their wealth for the common good. I hope that by adding my voice with those who are supporting this project, we will all encourage others to participate.”
So it seems to be a very good way of guilt tripping/bullying/coercing other rich people to also commit to donating so that they don’t look cheap or selfish when everyone else seems to be saying they will. Imagine being the last person on the Forbes 400 to say you will donate?
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