Billionaire philanthropists make their mark

AP photo Bill Gates has donated $28B

 For the first time ever, Forbes magazine has compiled a list of living philanthropists who have already given away $1 billion or more to charitable causes.  Fourteen donors made the list, 11 of whom are also listed on Forbes' list of the world's 793 billionaires.  Ten of the 14 donors are from the U.S.  Topping the list is Bill Gates, Microsoft co-founder, with $28 billion.  The other billion-dollar donors are: George Soros, hedge fund manager, $7.2 billion; Gordon Moore, Founder of Intel, $6.8 billion; Warren Buffett, $6.7 billion; Eli Broad, $2 billion; James Stowers, mutual fund guru, $1.9 billion; Herbert and Marion Sandler, banking industry, $1.7 billion; Michael Bloomberg, New York Mayor, $1.5 billion; Li Ka-shing, Hong Kong's richest person, $1.37 billion; Dietmar Hopp, SAP Co-Founder, $1.25 billion; Michael Dell, $1.2 billion; Klaus Tschira, co-founder of SAP, $1.1 billion; Stephan Schmidheiny, $1 billion; and Ted Turner, $1 billion. (Forbes.com, August 24, 2009)

It's hard to imagine that of the 793 billionaires in the world, only 11 individuals made it to this list.  Scholars of philanthropy have noticed some interesting patterns about these super-philanthropists. Inherited wealth more often stays horded. "People who make their own money, entrepreneurs, are the most generous," says Leslie Lenkowsky, a professor at Indiana University's Center on Philanthropy. "They understand they've been very fortunate, and their good fortune in society depended on the schools they attended and their communities."  All but one of these billion dollar givers is self-made.  Another phenomenon that can't be missed about the super generous is the predominance of Americans. Ten of the 14 are from the U.S., even though only 45% of the world's billionaires reside here. The U.S. has a storied history of generous philanthropists including notable figures such as Andrew Carnegie and David Rockefeller, whereas parting with your wealth to the benefit of others is not so highly encouraged in other societies. 

These individuals have given of themselves time and time again.  Many of them have contributed to our country not only financially, but also in the areas of technology, medicine , environmental advancements and global intelligence.  They will be remembered for thier gifts, their talents and their generosity.  How will you be remembered?  What type of a  legacy will you leave behind?  Just a little food for thought.

Until next time...