A philanthropist is someone who donates his or her time, money, and reputation to an organization whose primary objectives are to serve the public interest or common good. We will give you information about the top 05 philanthropists in the world. The term ‘Philanthropist‘ is most often applied to those who donate a large sum of money and make a major impact on society through it.
Philanthropy is important because it provides opportunities to the needy. People directly get benefit from philanthropy by the use of libraries, schools, hospitals, performing arts centers, and museums. It also supports scientific research, scholarships, civil rights endeavors, social services, and other things beneficial to society.
Today we are going to know about Top 05 philanthropists in the world who created an impact on society.
5. Andrew Carnegie
Andrew Carnegie was a Scottish-American industrialist. He led the expansion of the American steel industry in the late 19th century and became one of the richest Americans in history.
Initially, Carnegie was a telegraphed, and later he invested in railroads, railroad sleeping cars, bridges, and oil derricks. further, He earned wealth as a bond salesman, raising money for American enterprise in Europe. He built Pittsburgh’s Carnegie Steel Company and later in 1901, he sold it to J.P Morgan for $303,450,000.
During the last 18 years of his life, he gave away $350 million (conservatively $65 billion in 2019 dollars, based on the percentage of GDP) to charities, foundations, and universities – almost 90 percent of his fortune.
Carnegie devoted the remainder of his life to large-scale philanthropy. He almost donated $9.5 billion in his lifetime, with special emphasis on local libraries, world peace, education, and scientific research.
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4. Li Ka-Shing
Li Ka-Shing is a Hong Kong-based businessman and investor. He is one of the most influential entrepreneurs in Asia, presiding over a business empire with a diverse portfolio of businesses from a wide array of industries, including transportation, real estate, financial services, retail, and energy and utilities.
As of June 2019, Li is the 30th richest person in the world, with an estimated net wealth of US$29.4 billion. His company Cheung kong holdings alone made up 4% of the aggregate market capitalization of the Hong Kong Stock Exchange.
He is regarded as one of Asia’s most generous philanthropists. He has donated $10.7 billion to charity and other various philanthropic causes with special emphasis on education and healthcare.
3. Azim Hashim Premji
Azim Hashim Premji is the Chairman of Western India Products Ltd.(WIPRO), an Indian business tycoon, investor, engineer, and philanthropist. He is informally known as the Czar of the Indian IT Industry. He has his footing into the IT industry for four decades and is the driving force behind the success of Wipro.
He was listed by many top magazines as the most influential person in the world. In 2010, he was voted among the 20 most powerful men in the world by Asiaweek. He has twice been listed among the 100 most influential people by TIME Magazine, once in 2004 and more recently in 2011.
In 2001 he formed Azim Premji Foundation for Education. This organization has formed many schools, colleges, and universities, and It also focuses on teachers’ training college. Premji started with a $2.2 billion donation to this Azim Premji Foundation, focused on education in India.
In 2013, Azim Premji agreed to give away at least half of his wealth to philanthropic work by signing ‘The Giving Pledge’ started by American billionaires, Bill Gates and Warren Buffet. An estimated amount of $21 billion has been donated by him until now.
2. Warren Edward Buffett
Warren Buffet is an American business magnate, investor, speaker, and philanthropist. He is also the chairman, CEO, and the largest shareholder of Berkshire Hathaway, a multinational conglomerate holding company headquartered in Omaha.
He is considered one of the most successful investors in the world. Buffett is often called the “Oracle of Omaha” or the “Sage of Omaha’ and is noted for his adhesiveness to the value investing philosophy and for his own frugalness in spite of his huge riches.
Buffett is a notable philanthropist. In June 2006, Buffett devoted approximately 10 million Berkshire Hathaway Class B shares to the Bill & Melinda Gates Foundation, valuable approximately US$30.7 billion as of 23 June 2006, building it the greatest charitable contribution in history and Buffett among the leaders in the philanthrocapitalism revolution.
He founded ‘The Giving Pledge’ in 2009 with Bill Gates, whereby billionaires pledge to give away at least half of their fortunes. Buffet has pledged to give away 99 percent of his fortune to philanthropic causes, primarily via the ‘Bill & Melinda Gates Foundation’. As of now, he has already donated $34 billion.
1. Bill Gates
Bill Gates is an American business tycoon, software developer, investor, and philanthropist. He is best known as the co-founder of Microsoft Corporation. As of August 2020, Gates had an estimated net worth of US$113.7 billion, making him the second-wealthiest person in the world, behind Bezos.
In 2000, Gates and his wife combined three family foundations and Gates donated stock valued at $5 billion to create the charitable ‘Bill & Melinda Gates Foundation’, which was identified by the Funds for NGOs company in 2013, as the world’s wealthiest charitable foundation, with assets reportedly valued at more than $34.6 billion.
He has almost donated an estimated amount of $35.8 billion till now, with special emphasis on Healthcare, extreme poverty, education, access to information technology.