philanthropy0.515 min read
King’s Trust Global Gala Marks 50th Anniversary With Star-Studded Support
26 days ago•Source: Page Six
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7.205 min•1 month ago
Dell Family Bets $750 Million on a New Life Sciences Hub
Philanthropists Michael and Susan Dell pledged $750 million to establish a life sciences hub, a landmark gift intended to accelerate biomedical research, biotech innovation, and related workforce development.
4.665 min•4 months ago
MacKenzie Scott Gifts $45 Million to Trevor Project to Support LGBTQ+ Youth
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MacKenzie Scott Donates $42M to Bay Area Education Nonprofit
Fortune•7 months ago
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Why Billionaires Hesitate to Increase Philanthropy
Yahoo Finance•1 year ago
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Warren Buffett's Vision: Philanthropy, Succession, and Parental Advice for Wealth Transfer
Warren Buffett, at 94, announced new charitable donations by converting 1,600 Berkshire Hathaway Class A shares into 2.4 million Class B shares. He donated 1.5 million shares to The Susan Thompson Buffett Foundation and 300,000 shares each to The Sherwood Foundation, The Howard G. Buffett Foundation, and NoVo Foundation. Buffett emphasized his belief in supporting children without creating a family dynasty and has designated successor trustees for his philanthropic efforts. He advises parents to discuss their wills with mature children to ensure understanding of their decisions.
Bill Gates Expands Influence in Africa
The Gates Foundation is expanding its efforts in Africa, with a focus on health, agriculture, and economic empowerment, particularly for women and smallholder farmers. Bill Gates pledged $7 billion to tackle poverty, hunger, and inequality, with health being the top priority, including polio eradication and vaccine development for diseases like tuberculosis. The foundation is also addressing malnutrition through agricultural productivity and food fortification. Additionally, it supports local vaccine manufacturing to reduce dependency on imports. A new regional office in Nairobi will enhance the foundation's impact in East Africa.
Mackenzie Scott Sells More Amazon Shares in Philanthropic Move
Billionaire philanthropist MacKenzie Scott has sold another 11% of her Amazon shares, worth over $8 billion, continuing her rapid pace of charitable giving. Since her 2019 divorce from Jeff Bezos, Scott has disposed of two-thirds of her Amazon shares, donating at least $17.3 billion to over 2,300 nonprofits. Her unique approach involves unrestricted cash grants to small nonprofits, often exceeding their annual budgets, and she allows recipients to decide on publicizing the gifts. Scott's net worth is now estimated at $30 billion, down from a peak of $59 billion in 2021.
Home Depot Co-Founder Bernie Marcus Passes Away, Philanthropic Legacy to Accelerate
Bernie Marcus, co-founder of Home Depot, passed away at 95, leaving behind a legacy of philanthropy. He committed to giving away nearly all his wealth, with his Marcus Foundation tasked to distribute 90% of his remaining billions within 20 years. Marcus, who was deeply influenced by his mother's teachings on helping others, focused his charitable efforts on medical research, Jewish causes, community support, and veterans. His foundation has already donated over $2.7 billion, and now faces the challenge of distributing significantly more in a shorter timeframe.
Open Society Foundations Complete Restructuring, Commit $400M to Green Jobs
Open Society Foundations, led by George Soros, announced a $400 million commitment over eight years to support green economic development in six middle-income countries. This marks the first major initiative following a significant internal reorganization. The funding aims to create sustainable jobs and shift towards clean energy, addressing issues like pollution, green infrastructure, and workforce upskilling. The restructuring, driven by Alex Soros, included layoffs and strategic changes to better align with global challenges like climate change and authoritarianism.
"High-Profile Donations and Investigation Updates Following Trump Rally Shooting"
A GoFundMe campaign set up by the Trump campaign to support victims of a shooting in Butler County, Pennsylvania, has raised over $4.3 million from more than 56,000 donations. Major contributors include Ken Griffin, Kid Rock, Dana White, and the Heritage Foundation. The attack left one person dead and two others critically wounded, with Trump sustaining minor injuries. The funds will aid the victims and their families, though specific allocation details were not provided.
Warren Buffett's Legacy: Philanthropy and Family Fortunes
Warren Buffett's three children, Howard, Susie, and Peter, are set to become some of America's most powerful philanthropists, potentially giving away up to $130 billion of their father's fortune. They have already donated billions through their respective foundations, focusing on areas such as food security, education, and women's empowerment. Warren Buffett has appointed them as future distributors of his wealth, diverging from his previous commitment to the Gates Foundation.
Columbia Alum Donates $260M to Israeli University Amid U.S. Protests
An anonymous Columbia University alumnus and World War II veteran has donated $260 million to Bar-Ilan University in Israel, citing a commitment to Israel's stability and scientific advancement. The donation comes amid ongoing pro-Palestinian protests at Columbia and other U.S. locations, with demonstrators demanding divestment from Israel. The funds will be used to enhance research in various advanced technologies at Bar-Ilan.
"OpenAI CEO Sam Altman Commits Majority of Wealth to Philanthropy"
OpenAI CEO Sam Altman has pledged to donate the majority of his $1 billion wealth to charitable causes, joining other billionaires in the Giving Pledge initiative. Altman, who was briefly removed and then reinstated as CEO, aims to focus his philanthropy on technology that benefits humanity, aligning with his mission at OpenAI.
Melinda French Gates Pledges $1 Billion for Women's Rights and Families
Melinda French Gates has pledged to donate $1 billion over the next two years to support women's rights and families globally, including reproductive rights in the U.S. This follows her previous billion-dollar commitment in 2019. French Gates, who recently stepped down from the Bill & Melinda Gates Foundation, will direct $200 million in new grants through her organization, Pivotal Ventures, to various groups. She also plans to give 12 individuals $20 million each to distribute to nonprofits. The total commitments announced so far amount to $690 million, with a significant portion aimed at improving women's health and rights.