Billionaires asked to 'will' their wealth to the world

By Catholic Online
8/4/2010
Catholic Online (www.catholic.org)

The Giving Pledge encourages the super-rich to give back

The organization the Giving Pledge is encouraging the mega-wealthy - who can't possibly spend all their money in their lifetimes - to will a great part of their fortunes to charities to make the world a better place. More than three dozen of America's wealthiest individuals and their families have joined Bill Gates and Warren Buffett to will at least half of their fortunes to charity.

More than three dozen of America's wealthiest individuals and their families have joined Bill Gates and Warren Buffett to will at least half of their fortunes to charity.

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LOS ANGELES, CA (Catholic Online) - The Giving Pledge was officially launched by Gates and Buffett earlier this year. Their aim is to persuade the richest people in America to commit to giving the majority of their wealth to the philanthropic causes and charitable organizations of their choice -- either during their lifetime or after their death.

In addition to Buffett and Gates, 38 other billionaires are taking the give-it-away pledge. They include New York Mayor Michael Bloomberg, entertainment executive Barry Diller, Oracle co-founder Larry Ellison, energy tycoon T. Boone Pickens, media mogul Ted Turner, David Rockefeller, film director George Lucas and investor Ronald Perelman.

Some notable figures from the tech world that have joined the pledge include Qualcomm founder Irwin Jacobs, eBay co-founder Pierre Omidyar and noted tech venture capitalist John Doerr.

"We've really just started, but already we've had a terrific response," Buffett, co-founder and chairman and CEO of Berkshire Hathaway says. "At its core, the Giving Pledge is about asking wealthy families to have important conversations about their wealth and how it will be used.

"We're delighted that so many people are doing just that - and that so many have decided to not only take this pledge but also to commit to sums far greater than the 50 percent minimum level."

Bloomberg, who made his fortune from financial news and information services company Bloomberg L.P., added: "If you want to do something for your children and show how much you love them, the single best thing - by far - is to support organizations that will create a better world for them and their children. And by giving, we inspire others to give of themselves, whether their money or their time."

CNN founder Ted Turner says that "I'm particularly thankful for my father's advice to set goals so high that they can't possibly be achieved during a lifetime and to give help where help is needed most," he said. "That inspiration keeps me energized and eager to keep working hard every day on giving back and making the world a better place for generations to come."

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Pope Benedict XVI's Prayer Intentions for January 2013
General Intention: The Faith of Christians. That in this Year of Faith Christians may deepen their knowledge of the mystery of Christ and witness joyfully to the gift of faith in him.
Missionary Intention: Middle Eastern Christians. That the Christian communities of the Middle East, often discriminated against, may receive from the Holy Spirit the strength of fidelity and perseverance.

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1 - 4 of 4 Comments

mary matthews
2 years ago
How sad thar someone feels saving polar bears a waste. Global warming is here and we are killing our planet and Gods creatures because of it. We are responsible to save all of Gods creatures. Blessings to everyone taking this pledge. There is always hope and faith to encourage others to give so much to so many in need.
vance
2 years ago
I hope that the dominant Liberal Establishment doesn't succeed in destroying our free market system so that the younger generation has the opportunity to be Bill Gate's, Oprah Winfrey's, Jimmy Buffet's, Ted Turner's, Mike Bloomberg's, etc. They throw their money behind liberal politicians, like our current president, who are legislating every day to make sure that doesn't happen. Their philanthropy will be greatly received if their money goes for research to cure cancer, leukemia, and other debilitating deseases. If it goes to saving polar bears or left wing causes, then it's money down a rat hole.
Johnny
2 years ago
God bless them and may other wealthy people continue to see the importance of helping other people in poverty.
Alex
2 years ago
This is a great idea. I pray to God that I can become as successful as I aspire to be simply so I can give as much as I can to the right people (i.e. not planned parenthood like our government does). But I find a problem with people like Gates and Buffet. HALF? That's it!? Do you guys have any understanding how much money these people are keeping if they only give away half? Lord help us all. Oprah Winfrey makes $300 million every single year. People praise her for being so charitable, what a joke. The woman gives only a fraction of her money to causes. If I made $300 million a year, I would give away at least $299 million (or a similar ratio after taxes). Nobody needs that much money a year to live comfortably. Not to mention, Oprah has the nerve to collect money from poor people to use in her charities. Hey Oprah, how about you let those people keep their money and use your own!

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