3 Multi-Billion-Dollar Donors
While many billionaires have signed the Giving Pledge—a commitment to give at least half of their wealth to charity during their lifetime or in their wills—critics argue that too much time passes while this wealth is accrued. Dedicated to using their money to solve world problems now, here are three generous individuals pioneering the idea of “giving while living.”
While many billionaires have signed the Giving Pledge—a commitment to give at least half of their wealth to charity during their lifetime or in their wills—critics argue that too much time passes while this wealth is accrued. Dedicated to using their money to solve world problems now, here are three generous individuals pioneering the idea of “giving while living.” Chuck Feeney
AGE: 90 CITIZENSHIP: U.S.
On September 14, 2020, Feeney closed his charitable business Atlantic Philanthropies as he hit his four-decade goal to give away all his money. Over the last 40 years, the former billionaire cofounder of airport retailer Duty-Free Shoppers has donated over $8 billion to global charities, universities, and institutes through his foundation, Atlantic Philanthropies, which he established in 1982. Some of the causes include bringing peace to Northern Ireland, modernizing Vietnam’s healthcare system, and spending $350 million to turn New York’s longneglected Roosevelt Island into a technology hub. In 2012, Forbes named him the James Bond of Philanthropy. Feeney estimated he had set aside around $2 million for his and his wife’s retirement.
Warren Buffett
AGE: 90 CITIZENSHIP: U.S.
Investing legend Warren Buffett announced a new $4.1 billion donation in
June 2021, bringing the total value of his Berkshire Hathaway stock donations to $41 billion. The move puts him halfway through his commitment to the Giving Pledge to donate all of the 474,998 shares he controlled in June 2006. In 2010, the “Oracle of Omaha” cofounded the Giving Pledge with Bill and Melinda Gates to set a global standard of generosity among the ultra-wealthy. As of June 2021, there are 222 signees from 25 countries. Forbes ranked the frugal billionaire as the most generous philanthropist in the U.S. on its Top 50 Givers list in 2019.
Azim Premji
AGE: 75 CITIZENSHIP: India
In March 2019, tech titan Premji announced that he had shifted a $7.6 billion stake in his IT outsourcing company, Wipro Limited, to his charitable foundation. The benevolent gesture made him Asia’s biggest philanthropist. But, Premji also topped Forbes’ list of The Biggest Billionaire Losers of 2019. By transferring more than 60% of his stake, the generous multi-million-dollar donation caused Premji to lose $14.1 billion in net worth, from $22.6 billion to $7.2 billion. Along with his family, he now owns a 7% stake in Wipro. The first Indian to sign the Giving Pledge, his lifetime giving now stands at $21 billion.