Sir Richard Branson, the knighted founder of multinational conglomerate Virgin Group, has joined The Giving Pledge and will donate at least half of his massive wealth to charitable causes.
The pledge is an initiative begun by Warren Buffett and Bill and Melinda Gates that seeks to recruit the very wealthiest to spend their fortunes in ways that will help people for generations to come.
Originally aimed only at American billionaires, the program has expanded to 8 nations including Australia, Malaysia, South Africa, Ukraine, Russia, India, and Germany. Branson, a Briton, is the 12th person outside the U.S. to join.
Branson made his wealth founding Virgin Records in 1970 which has since evolved into a mega-business dealing in gaming, banking, wine-selling, technical support, specialty travel services, publishing, communications, aviation, and even space exploration.
In a letter posted on The Giving Pledge website, he writes that the majority of his contributions will be used “to invest in new collaborative approaches to addressing issues where business, governments, and not-for-profits join forces to create a healthy, equitable, and peaceful world for future generations to enjoy.”
According to Forbes, he is the 4th richest man in Britain and is worth an estimated $4.2 billion.
There are currently a total of 105 signatories to The Giving Pledge.
– Jordan N. Hunt
Source: Forbes, Huffington Post
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