Written by Marketing Intern Nandini Kavuri
The United States is currently home to over 403 billionaires; the most in the entire world. Recently, two of those billionaires, Bill Gates and Warren Buffet, have announced their campaign to encourage US billionaires to donate at least half of their wealth to charity. Since then, over 40 wealthy individuals have joined the Giving Pledge.
The average amount of money that is currently donated by the wealthy is 10-12%. This may seem like a lot, but according to Warren Buffet, once you have accumulated that much money, you can easily afford to give upwards of 90% without having to give up your lifestyle.
Joining the list of donors include individuals such as Michael Bloomberg, Barry Diller, Diane Von Furstenberg, George Lucas, Barron Hilton and Ted Turner. Bill Gates and Warren Buffett estimate their efforts could generate 600 billion dollars in charitable giving.
Even though the campaign is focused on reaching out to billionaires, people of all means and backgrounds can donate their time and money for charity. For more information visit givingpledge.org
To give back to charities by shopping, visit Uptown Liz.
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