US Billionaire Businessmen Pledge to Give Away Wealth

As part of the on going Give Pledge campaign, which was stared by Bill Gates and Warren Buffett, some 17 US billionaires have also committed to give away their fortune in the name of charity – including Facebook founders Zuckerberg and Moskovitz.

At least 17 billionaires in the United States, including Facebook founders Mark Zuckerberg and Dustin Moskovitz, pledged to give away at least half of their hard-earned fortunes for a philanthropic campaign.

Launched in June 2010, The Giving Pledge campaign – started by Microsoft Corp founder Bill Gates and investing giant Warren Buffett – now has 57 billionaires members, the campaign organizers said in a statement on Wednesday.

Both Gates and Buffet asked the billionaires to publicly state their intention to give away half of their wealth during their lifetime or after their death for the said campaign.

The Giving Pledge campaign works by asking billionaires to make moral commitment to give the necessary fund to charity. The campaign does not accept money directly from the US billionaires or tell them how to spend their donations.

In September, Zuckerberg gave at least $100 million to the beleaguered public schools of Newark, New Jersey.

“People wait until late in their career to give back. But why wait when there is so much to be done? "With a generation of younger folks who have thrived on the success of their companies, there is a big opportunity for many of us to give back earlier in our lifetime and see the impact of our philanthropic efforts,” Zuckerberg said in a statement.

Among those who also pledged to give away their fortunes for charity were financier Carl Icahn, businessman Nicolas Berggruen, private investor Ted Forstmann, AOL co-founder Steve Case, Morningstar Chief Executive Joe Mansueto, and Michael Milken, a former Wall Street executive who went to prison in the early 1990s for securities violations.


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