World

Saudi Prince to donate entire fortune to charity

2 Jul 2015 | By Siripriya

World's 34th richest person, Saudi Billionaire Prince Alwaleed bin Talal has vowed to donate his entire fortune worth £20 billion to charity.

The money will be used to foster cultural understanding, empower women and provide vital disaster relief among other things.

The Prince said he was inspired by Bill Gates' initiative which urges billionaires all around the world to donate 50% of their wealth.

In context: Philanthropists who donated their fortunes to charity

25 Jun 2006Warren Buffett to give away his fortune to charity

Warren Buffett decided to give away his fortune worth $44 billion to five major charities of the world.

85% of his wealth was to be donated within a month with a large part going to the Bill and Melinda Gates Foundation.

The 'Oracle of Omaha' billionaire promised to give away 99% of wealth, a pledge that was unmatched in the world of the super-elite.

20 Jun 2008Bill Gates to donate entire £30 billion fortune

Bill Gates pledged to donate his entire £30 billion ($58 million) fortune to charity.

He promised to transfer his money to his charity, the Bill and Melinda Gates Foundation, which funds health and education projects.

In 2010, he along with business tycoon Warren Buffet started an initiative, "The Giving Pledge" to get billionaires to donate half or more of their fortune to charity.

9 Dec 2010Zuckerberg signs Bill Gates-Warren Buffett's

Mark Zuckerberg, one of the youngest billionaires of the world signed the "Giving Pledge" initiative by Bill Gates and Warren Buffett and promised to donate more than half of his wealth to charity.

Earlier, he had donated an undisclosed amount to an open social network project Diaspora and $100 million to Newark Public Schools.

Facebook founder's fortune was worth $6.9 billion at that time.

27 Mar 2015Apple CEO to give all his wealth to charity

Apple CEO Tim Cook decided to give away all his wealth to charity after he finished paying for his nephew's college education.

Cook who is close to becoming a billionaire, had his pay at Apple doubled to $9.2 million in 2014.

In 2014, he had $145 million worth of stock awards and another $536 million in stock awards were yet to come.

11 Jun 2015Judy Faulkner to donate 99% of wealth!

Judy Faulkner, founder and CEO of Epic Systems said that she will donate 99% of her personal wealth to charity.

Faulkner who's worth $2.3 billion claimed that she never had the desire to live a lavish life.

She said, "My goal in pledging 99% of my assets to philanthropy is to help others with roots—food, warmth, shelter, healthcare, education—so they too can have wings"

137 billionaires have signed the pledge!

137 billionaires or billionaire families have signed the "Giving Pledge" initiative till now, including Manoj Bhargava, the richest Indian in America.

2 Jul 2015Saudi Prince to donate entire fortune to charity

2 Dec 2015Zuckerberg to donate 99% of his Facebook shares

Mark Zuckerberg and his wife Dr. Priscilla Chan announced that they will donate 99% of their Facebook shares in their lifetime for charitable purposes.

This announcement was made by Zuckerberg in an open letter to his new-born daughter Max.

The money amounting to $45 Bn, will be given to the Chan Zuckerberg initiative and will be utilized to make the world a better place.

16 Jan 2016Facebook's COO Sandberg donates $31 million to charity

After Mark Zuckerberg, Facebooks' COO Sheryl Sandberg has decided to donate $31 million in Facebook stock to charity.

Securities and Exchange Commission document contended that Sandberg had bequeathed "290,000 shares of Facebook stock" to various charities.

The money is expected to go to causes she has supported in the past like women's empowerment group Lean In, to help support women in the workplace.