There are finance experts who aren’t afraid to spread the wealth.
Wealth management, investments, and studying the dynamics of assets are important parts of economics. The science of money management can be raised to build a business, whether one is educated in public finance, corporate finance, or personal finance. More than that, it’s individuals with this important skill set who have to ability to use their savviness for the purpose of humanitarianism, charity, and altruism. It’s fortunate that many who’ve established themselves as successful in the financial sector turn to philanthropy as a way to demonstrate curiosity and to give back.
Finance philanthropists use donor-advised funds or offer direct gifts to organizations in need. Others sign the Giving Pledge, promising that they will dedicate a great deal of their wealth, approximately half, to that philanthropy.
As of March 2017, there were more than 100 self-made moguls and titans who’ve pledged to strengthen and support causes they deem necessary. Many among those who signed the pledge are financiers, who are incredibly generous. Read on to know the names of some of the most charitable financial philanthropists.
Carl Icahn is an investor and magnate who has a net worth of 15.7 billion, according to Forbes. Five years ago, he donated an estimated $200 million, with a significant amount of that money going to Mount Sinai School of Medicine. The various family foundations, hold a different number of assets, with the largest possessing about $30 million in assets. Most large gifts directly, including the $20 million to create the Carl C. Icahn Laboratory at Princeton’s Institute for Integrated Genomics. Also, $3 million to create the Icahn Medical Research Foundation.
Mike Bloomberg is a businessman, author, politician, and philanthropist with a net worth of $49.1 billion. As of May 2017, he was named the eighth richest person in the country, and the tenth in the world. The former mayor of New York signed the Giving Pledge, built up the excess of Bloomberg Philanthropies to $4.2 billion. He’s also given dollars to John Hopkins and his top causes (climate change and global public health). Also, his foundations give money to diverse issues.
Warren Buffett, with his $74.9 billion fortune, is a business magnate, investor, and philanthropist. He’s pledged to give away 99 percent of his wealth and has already cumulatively given away billions to his family fortune, the Bill and Melinda Gates Foundation, and the Nuclear Threat Initiative.
George Soros is an Hungarian-American investor, business magnate, philanthropist, and author worth $25.2 billion. His umbrella organization, the Open Society Foundation, has gifted $11 billion over the last thirty years. He’s also given to the Central European University in Budapest, donating nearly $1 billion.
Julian Robertson is an investor, hedge fund manager, and philanthropist who has a net worth of $3.8 billion. Since he launched the Robertson Foundation in 1996, he’s donated more than $1 billion to charitable causes. Robertson put money toward The Tiger Foundation, Memorial Sloan-Kettering, Environmental Defense Fund, Teach for America, and some other organizations, amounting to hundreds of millions more. He’s also a Giving Pledge signatory.
Some other incredibly charitable individuals include David Rubenstein, Bill Ackman, Charles Munger, George Kaiser, John Arnold, Lowell Milken, Pete Peterson, Sandy Weill, Denny Sanford, Herbert Sandler, Michael Milken, and Stanley Druckenmiller.
An honorable mention is David Rockefeller who was an American banker, the chief executive of Chase Manhattan, and the oldest living member of the famous Rockefeller family until his death in March 2017. His net worth was $3.3 million at the time of his death, and throughout his life, he gave at least $1 billion to organizations and establishments, including the Museum of Modern Art and Rockefeller University.
Ajay Nagpal, the Chief Operating Officer at investment management firm Millennium. Ajay Nagpal supports social entrepreneurship through his work as a Board member of Echoing Green. Please visit his social entrepreneurship blog to learn more about that! Also, find him on Behance!