|Billionaire Mark Zuckerberg, cocreator of Facebook, |
gives away majority of his fortune
I've also found a different, more generous, approach to wealth by those who were suddenly wealthy. New money seems to be less of a burden. Despite earning their fortunes through tireless work or a moment of genius that resulted in a novel patent idea, I have had clients who were so generous it was inspiring. I know a professor at a major teaching hospital who is paid about one hundred million dollars a year for a medical device he invented and licenses to a major pharmaceutical company. He drives a 1985 pick up truck and worn blue jeans every day. And unlike lottery winners who are suddenly wealthy, but didn't earn the money, he gives a large portion of his earnings each year to nonprofits in San Antonio and Kerrville, Texas. He's happy with the life he had when he became remarkably wealthy and had the good sense to not change what already worked. Unlike the attorney who was not very generous to the waiter, money was not a burden to him because he had not been born with it. It is a luxury to have... and to let go of...
Bill Gates and Warren Buffett are self-made men who concluded recently they could substantially change civilizations by focusing their billions of dollars on certain humanitarian efforts. To increase the impact of "letting go of" some of their fortunes, they have invited other billionaires to dinner (it was probably pretty nice, don't you imagine? No cold cut platter I'm guessing) to discuss their goals. It conjures a vision of financial super heroes with special cash capes and cool gadgets that only gazillionaires could have made in underground "Iron Man" type labs.
From what the Wall Street Journal reported, it sounds as though the "new money" billionaires have decided that growing huge wealth into even larger wealth is not as exciting as helping millions of people live better lives. If that isn't an inspiration, I don't know what is. Here's a take on the story by Philiana Ng.
Mark Zuckerberg to Give Away FortuneFacebook founder Mark Zuckerberg has signed on to give away a portion of his fortune, the Wall Street Journal reports.
Earlier this year, Zuckerberg donated $100 million to the Newark public school system, which was announced on The Oprah Winfrey Show.
Facebook co-founder Dustin Moskovitz, who is played by actor Joseph Mazzello in the film, has also agreed to participate.