Jeff Bezos has dedicated to giving freely the “majority” of his $116 billion fortune throughout his lifetime — however in the case of signing the Giving Pledge, the Amazon founder stays mum.
The pledge, launched by Invoice Gates and Warren Buffett in 2010, is a marketing campaign that encourages billionaires from throughout industries to decide to giving freely at the very least half of their fortunes to charity throughout their lifetimes.
Notably, it is a nonbinding dedication: Its founders describe it as a “ethical dedication,” and critics argue that its free guidelines lack enforcement. To this point, it has been signed by 236 billionaires, together with Gates and Buffett, in addition to Elon Musk and Bezos’ ex-wife, MacKenzie Scott.
However Bezos, whose current announcement adopted years of criticism over his relative lack of philanthropic giving, is not the one billionaire who hasn’t signed the pledge. It lacks the signatures of seven of the world’s 11 wealthiest individuals, primarily based on Bloomberg’s billionaire rankings as of this week.
Not one of the seven responded to CNBC Make It is request for remark.
This is who they’re and what their philanthropic efforts have seemed like so far.
Bernard Arnault: $157 billion web price
Bernard Arnault is the co-founder and CEO of luxurious items conglomerate LVMH and the world’s second-wealthiest particular person, in accordance with Bloomberg.
Previously, the French billionaire’s web price has approached $200 billion. He has topped Bloomberg’s checklist of the world’s wealthiest individuals a number of instances, most lately in 2021.
Arnault has not signed the Giving Pledge, nor has he commented on the pledge publicly. There is no such thing as a public document displaying the extent of what Arnault has donated to charity.
Nevertheless, LVMH has posted a press release on-line highlighting the corporate’s philanthropic mission and noting the Arnault household’s high-profile $226 million donation in 2019 to assist fund repairs of Paris’ iconic Notre Dame cathedral, after a devastating hearth severely broken the landmark that yr.
Gautam Adani: $130 billion web price
Gautam Adani is the chairman and founding father of the Adani Group, one in every of India’s largest industrial conglomerates. He’s India’s wealthiest particular person and the third-richest on this planet, in accordance with Bloomberg.
His web price has practically doubled since this time final yr, as his firm has made a collection of acquisitions to increase into industries reminiscent of coal and transportation.
He is additionally ramped up his philanthropic efforts over the previous yr: In June, he pledged a $7.7 billion donation to his Adani Basis, a philanthropic arm of his firm that helps social causes in India reminiscent of schooling and health-care packages.
Jeff Bezos: $116 billion web price
Bezos has donated greater than $2.4 billion in his lifetime, in accordance with a Forbes estimate. He has additionally dedicated to distributing a complete of $10 billion by way of his personal local weather nonprofit, the Bezos Earth Fund.
However the billionaire has skirted questions concerning the Giving Pledge for years, particularly after his ex-wife, Scott, signed it shortly after their 2019 divorce.
Scott has gone on to develop into one in every of America’s most celebrated philanthropists. Bezos’ critics are nonetheless ready for him to supply extra concrete particulars on how he intends to distribute his huge fortune to charitable causes.
With out these particulars, it is laborious to parse how his announcement final week differs from signing the Giving Pledge, and why he made such an analogous dedication with out becoming a member of lots of his fellow tech billionaires.
Larry Web page: $88.7 billion web price
In 2014, Google co-founder Larry Web page mentioned he did not plan to depart all of his wealth to his two kids. He did not decide to leaving his web price to charity, both.
As an alternative, the billionaire mentioned in a TED interview that he would fairly hand over the majority of his fortune to entrepreneurs with massive concepts to vary the world for the higher. On the time, Web page named Elon Musk as one instance: “He desires to go to Mars. That is a worthy objective.”
In 2019, Vox reported that Web page had donated over $2 billion to his personal philanthropic basis since 2004. The overwhelming majority of these contributions ended up in donor-advised funds, which critics argue can be utilized as autos for tax breaks.
Mukesh Ambani: $88.2 billion web price
Mukesh Ambani, the ninth-richest particular person on this planet, is the chairman of Reliance Industries, an vitality and telecommunications conglomerate and India’s most dear firm.
He was lately named one in every of India’s most beneficiant philanthropists by the analysis group Hurun India, after reportedly donating greater than $50 million to charity earlier in 2022.
In 2010, Ambani based the Reliance Basis, the philanthropic arm of his firm and one in every of India’s largest nonprofits. The inspiration focuses on initiatives that present well being care and academic scholarships, in addition to agricultural infrastructure in rural farming communities, in accordance with its web site.
Steve Ballmer: $86.3 billion web price
Steve Ballmer’s absence from the Giving Pledge may come as a shock: He was one in every of Microsoft’s earliest staff, and rose to the function of president and Gates’ right-hand man earlier than succeeding his good friend as CEO in 2000. Most of Ballmer’s fortune comes from his 4% stake in Microsoft.
However Ballmer has mentioned that he and Gates have “drifted aside” since he retired from the corporate in 2014, which may clarify why he hasn’t signed the pledge that Gates co-founded.
Immediately, Ballmer serves as chairman of the NBA’s Los Angeles Clippers, which he purchased in 2014. He is additionally pretty lively on the philanthropy entrance: He and his spouse, Connie, run the Ballmer Group nonprofit, which has awarded over $420 million in charitable grants over the previous yr, in accordance with the group’s web site.
Sergey Brin: $84.9 billion web price
Like fellow Google co-founder Web page, Sergey Brin has not signed the Giving Pledge. The Eleventh-wealthiest particular person on this planet, Brin hasn’t spoken publicly concerning the pledge or how a lot he plans to present away throughout his lifetime.
Previously, Brin has donated cash to causes together with STEM-focused instructional nonprofit Women Who Code and a reported $63 million present earlier this yr to the Michael J. Fox Basis, which funds analysis right into a treatment for Parkinson’s illness.
In 2009, Brin additionally donated $1 million to the Hebrew Immigrant Help Society, a company that helped him and his household escape the Soviet Union and migrate to the U.S. when he was a baby.
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