Many Wealthy Philanthropists Are Donating Now
by Ashley High

In Australia, the wealthiest man has just announced that he will give away his $8 billion dollar fortune in his lifetime. The third wealthiest man in Taiwan promised to donate 90% of his $6 billion to charity. However, announcements like these barely make the news in this “post-Gates Foundation, post-Buffett donation world.”

 

Robert Frank of WSJ.com Wealth Report calls these wealthy philanthropists “the non-inheritance movement.” While some parents do not want to complicate their children’s lives with excessive wealth, many people just want to see their money used for a good cause during their lifetime. Sharon Schneider, the Philanthropic Director at Foundation Source, calls this the “giving while living” movement.

 

Gates, Buffett, and other wealthy philanthropists are inspiring others to generosity. For example, Joe Evans, a board member of the George School, said the school recently received a $128 million donation from alumna Barbara Dodd Anderson. He writes, “the good news is that larger donors have tended to be inspired by the Anderson gift and [view it as] evidence of confidence in the institution and its mission.”

 

More and more individuals are seeing the importance of making a difference in the world. It is because of this that many billionaires are choosing to give and to make an impact during their lifetime.

 

Information taken from: Sharon Schneider. “‘Giving While Living’ Takes Hold.” www.justmeans.com.

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