Do Philanthropists Really C.A.R.E.?

In the December 2, 2013 issue of Forbes, Randal Lane published a detailed list of the 50 philanthropists who had given away the most money (not pledged) in 2012.  After reviewing the data we asked ourselves, who actually  C.A.R.E.S.  the most, and was actually “Giving While Living” ?

Utilizing our own framework C.A.R.E.S. We looked at:

  • Who was CONTRIBUTING
  • What causes they were ADOPTING
  • Whether they were REORGANIZING their core businesses to support an issue
  • The degree to which they were personally ENGAGED in the process and most importantly to the impact entrepreneur
  • Whether their social enterprise was SELF-SUSTAINING through the self-generation of profits; or could it still make an impact if philanthropic donations dried up.

The results were  are eye opening…  Here is a quick overview of our findings:

Forbes Philanthropist  Net Worth Total Lifetime Giving % of Net Worth
#4 Mark Zuckerberg $19,000,000,000 $549,000,000 3%
#5 Walton Family Heirs $144,700,000,000 $4,600,000,000 3%
#7 Michael Bloomberg $31,000,000,000 $2,400,000,000 8%
#8 Paul Allen $15,800,000,000 $2,000,000,000 13%
#1 Bill & Melinda Gates $72,000,000,000 $28,000,000,000 39%
#2 Warren Buffett $58,500,000,000 $25,000,000,000 43%
#3 George Soros $20,000,000,000 $10,000,000,000 50%
#10 Gordon & Betty Moore $4,600,000,000 $2,300,000,000 50%
#6 Eli & Edythe Broad $6,900,000,000 $3,500,000,000 51%
#9 Chuck Feeney $7,500,000,000 $6,300,000,000 84%

Each of these individuals is one of Forbes Top 10 Philanthropists, however, Chuck Feeney is a hero among them, having donated to date, 84% of his entire net worth (at age 84) to impact causes including:

  • Healthcare
  • Human rights
  • Quality of life for older adults
  • Higher education
  • Cornell University (Alma-Mater)
  • World Peace
  • Cleft palettes
  • AIDS Research and
  • Abolition of the death penalty in the United States

Feeney began the “Giving While Living” movement with his personal goal to give away his entire net worth before he dies…  Imagine if only a portion of these donations had been made to impact funds, what the impact could have been…

There is hope, “Impact Investing” is becoming “The New Philanthropy” and  impact funds are emerging as a tradable “asset class” along the lines of an index fund.  Soon, you may be able to redirect your own 401k or IRA to make a difference while you continue to build your own future…

Read more about the Giving While Living Movement” and Chuck Feeney at CelebrityNetWorth.com and Forbes

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