Not every billionaire is a philanthropist and not every philanthropist is a billionaire.
As though it were a natural law, once we come across billionaires, we expect them to give. You know what they say,”to whom much is given, much is expected”.
Some of the world’s billionaires have understood that their wealth is a blessing for humanity and have not spared any avenue to support and improve mankind.
Oxfam in a previous report revealed that just 8 billionaires of the world are richer than about 3.6 billion people in the world who are poor.
The world has an estimated population of 7 billion people and 2017 just recorded a record breaking 2043 billionaires in the world. Thus a puzzle why poverty is still a global phenomenon. It raises a question on wealth distribution and independent country’s economic policies.
For the essence of contributing to the needs of the less privileged ones around the world, the giving pledge platform was established by Warren Buffett and the Bill & Melinda Gates Foundation.
Through this initiative, a host of billionaires all over the world have and are still pledging parts of their fortune to philanthropic causes.
Outside the giving pledge initiative, some money bags still do the needful when it comes to reaching out to the needs of others.
As at last year Forbes compiled their own version of the world’s most generous billionaires. These are the people that have donated a heavy percentage of their fortune to charity.
It would be noticed from the ranking that the parameter used was not the total sum donated but the percentage given from their overall wealth.
Topping Forbes generous billionaire chart at the moment is billionaire Chuck Feeney. He has given $7.5 billion which is well over 300% of his fortune. On the other hand, Bill gates has given $32.91 billion which is just 41% his 2016 $75 billion net worth.
Currently the 8th world richest billionaire, Michael Bloomberg (as at the time of the ranking) has donated a total sum of $4.22 billion, translating to 9% of his $45 billion fortune.
Internationally acclaimed investor of all times, Warren Buffet has given away a total of $25.54 billion translating to 39% of his 2016 $60.8 billion net worth.
Recent report however says that Warren has just given out about $18.6 million worth of shares from his Berkshire company to 3 different charity foundations. In all, the billionaire has given away a total of $27.54 billion in over ten years.
Note that the net worths used in this Fores generous billionaires’ ranking were those of 2016 Forbes’ records.
10. Warren Buffett
Lifetime Giving: $25.54 billion (39% of 2016 net worth)
9. Bill & Melinda Gates
Lifetime Giving: $32.91 billion (41% of 2016 net worth)
8. Julian Robertson Jr.
Lifetime Giving: $1.56 billion (43% of 2016 net worth)
7. George Soros
Lifetime Giving: $12.1 billion (49% of 2016 net worth)
6. Irwin & Joan Jacobs
Lifetime Giving: $706 million (50% of 2016 net worth)
5. Eli & Edythe Broad
Lifetime Giving: $4.22 billion (57% of 2016 net worth)
See Also: 2017 Forbes Billionaires: Bill Gates Leads The World’s Richest For 18 Years With $86 Billion
4. Gordon & Betty Moore
Lifetime Giving: $5.37 billion (71% of 2016 net worth)
3. W. Barron Hilton
Lifetime Giving: $1.3 billion (137% of 2016 net worth)
2. Karen and Jon Huntsman Sr.
Lifetime Giving: $1.55 billion (160% of 2016 net worth)
1. Chuck Feeney
Lifetime Giving: $7.5 billion (373,000% of 2016 net worth)