Billionaire sends letter to Taylor Swift urging her to give away fortune
SELF-MADE billionaire John Caudwell is urging pop super star Taylor Swift to follow his lead and give away at least half of her £1 billion fortune.
Businessman Mr Caudwell, who is worth £2.5 billion after selling Phones 4U, has written to the US hitmaker asking her to sign up to his Giving Pledge.
The promise - now signed by 242 of the world’s richest people - guarantees each will give at least 50 per cent of their wealth away when they die.
Pennsylvania-born singersongwriter Taylor, 34, far right, has recently been listed in billionaire bible Forbes Rich List for the first time. She joined the elite power group after her Eras Tour of 152 shows on five continents earned her £800million.
She has now amassed a fortune well over £1billion as one of the most successful artists of all time, the Express reports.
Philanthropist John, 71, who spent a difficult childhood in Stoke-on-Trent, now wants the multiple Grammywinning star, and other rich-list entrants like Tesla founder Elon Musk, Facebook supremo Mark Zuckerberg, Amazon creator Jeff Bezos and investor Warren Buffett, to join his crusade. Giving Pledge will use their cash to try to eliminate ills such as disease, child poverty and climate change.
John, grew up in Shelton and Bentilee and still lives near Eccleshall,
John Caudwell
said: “Philanthropy gives me far more pleasure and satisfaction than making money. In fact, making money is now largely driven by the knowledge I will be able to leave even more behind for charitable causes when I go.”
The dad-of-seven was born to a working class family and started his working life as an apprentice engineer at Michelin in Stoke and later ran a mail order business and a car showroom.
He then took on a consignment of 26 clunky mobile phone handsets at £1,350 each, that took him eight months to sell for £2,000 apiece. In 2006, John sold the group that became Phones 4u to a private equity group for £1.5billion.
He has children Rebekah, 42, Libby, 34, Rufus, 25, Scarlett, 20, and Jacobi, 18, from previous relationships, and William John, two, and Isabella, one, with his wife, Modesta Vzesniauskaite a former Lithuanian Olympic cyclist.
Forbes says country-turned-pop singer Taylor is the only musician to have earned so much money from her songs and performances alone. She is one of 265 people to have joined a 2,781-strong list of global billionaires in the past year, with a combined wealth of $14.2trillion.
If each pledged to donate at least half to charity or good causes, it would mean more than $7trillion being committed to helping others.
John has promised to give at least 70 per cent of his wealth away when he dies. His Caudwell Children charity, founded in 2000, helps around 3,000 kids in dire medical need and their cash-strapped parents every year.
He said: “My hope is we will eventually help every eligible child in the UK and in other countries if I can find like-minded individuals to help me.
“My message to those who have not yet found philanthropy is they may well find that it becomes a drug that gives far more pleasure than the creation of wealth.”
“What do Taylor Swift and I have in common?
“That we have anything in common was news to me this week too. Although I’ve always known it’s not singing ability.
“But here’s the link: Following the global success of Taylor Swift’s Eras tour and film, the American mega pop star has appeared on the Forbes Billionaires list for the first time.
“I don’t know much about Taylor, but I hope we may also share a desire to use our wealth to make the world a better place.
“Taylor is one of 141 new names in 2024, swelling Forbes’ list to an unprecedented 2,781 dollar billionaires around the globe, with a combined wealth of $14.2trillion - $2trillion more than just a year ago.
“For those of you struggling with rising interest rates and the general cost of living, unimaginable sums like this will surely seem obscene.
“But just imagine if all those 2,781 billionaires signed the Giving Pledge and committed to donating at least half of that wealth to a charity or charities of their choice.
“Just imagine how much good $7.2trillion could do to alleviate poverty, cure disease, combat climate change or address any number of the world’s other myriad problems!
“And why stop at 50 per cent? I raised my commitment to at least 70% many years ago.
“Sadly, only 242 of the world’s wealthiest have so far signed the Giving Pledge.
“I encourage Taylor Swift and all other Forbes billionaires to join me in doing so.”