According to a new report from UBS and PricewaterhouseCoopers, the 2015 Billionaires Report, Billionaires: Master Architects of Great Wealth and Lasting Legacies, the world is in a second ‘Gilded Age’ of great wealth, and many of today’s billionaires, like their early 20th-century predecessors, view philanthropy as a way to establish their legacies.
Ten individuals and families have just agreed to sign the Giving Pledge, thus committing themselves to giving at least half of their wealth to charity. The number of donors and families committed to the Pledge now stands at 137.
Those who just pledged are:
- Judy Faulkner, founder of the software firm Epic Systems
- Harold Grinspoon, a real-estate developer, and his wife, Diane Troderman
- Gordon Gund, an investor, and his wife, Llura
- Elie Horn, a Brazilian real-estate tycoon, and his wife, Susy
- John (Jay) Jordan II, an investor
- Brad Keywell, a co-founder of Groupon, and his wife, Kim
- Bill Scott, a former Berkshire Hathaway executive, and his wife, Ruth
- Hamdi Ulukaya, founder of Chobani yogurt
- Sunny Varkey, founder of GEMS Education, and his wife, Sherly
- Sir Ian Wood, a Scottish businessman
But how much do Giving Pledgers actually give? Bloomberg has examined how much has gone to charity from the estates of signers who have died. Fulfilment of the pledge, which is not legally binding, varies widely among the 10 deceased billionaires among the 193 signatories. Some have given far less than half of their estimated wealth, according to public disclosures of their lifetime and estate giving.
Source Chronicle of Philanthropy reports by Maria Di Mento, 2, 3 and 5 June.