Benevolent billionaires – why do they do it?

The Sydney Morning Herald:
They have been hailed as the billion-dollar givers by Forbes in a new list of the world’s most benevolent billionaires, but what inspires super-rich people to give most of their money away? Is it guilt, glory or simply the joy of giving?

Topping the 23-strong list is Microsoft founder Bill Gates, who according to Forbes has so far given nearly half of his $US66 billion ($A63.5 billion) fortune away. His outlook on life seems to be a motivating factor.

“We are impatient optimists by nature: we see the glass as ‘half full’ and are motivated to confront problems that others consider impossible to solve,” his foundation website states.

Others, including US magnate Warren Buffett, who has donated $17 billion to date, and Rams Home Loans founder John Kinghorn, who has donated $300 million, have said they don’t want to leave their children disablingly rich.

Read the whole story: The Sydney Morning Herald

They have been hailed as the billion-dollar givers by Forbes in a new list of the world’s most benevolent billionaires, but what inspires super-rich people to give most of their money away? Is it guilt, glory or simply the joy of giving?

Topping the 23-strong list is Microsoft founder Bill Gates, who according to Forbes has so far given nearly half of his $US66 billion ($A63.5 billion) fortune away. His outlook on life seems to be a motivating factor.

“We are impatient optimists by nature: we see the glass as ‘half full’ and are motivated to confront problems that others consider impossible to solve,” his foundation website states.

Others, including US magnate Warren Buffett, who has donated $17 billion to date, and Rams Home Loans founder John Kinghorn, who has donated $300 million, have said they don’t want to leave their children disablingly rich.

Read more: http://www.smh.com.au/executive-style/culture/benevolent-billionaires–why-do-they-do-it-20121122-29sjs.html#ixzz2DWncnqRd

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