Charitable Donations: How Far Can They Go?
Giving to charity is an opportunity for some. For most, volunteering is the closest thing they can offer to charitable organizations. But for some, philanthropy is a purpose. It is their way of life.
For some, the secret and fulfillment that comes with living are parallel to give. By contributing to others, communities, and the world as a whole, some people see the purpose, a new meaning in their life. Many high-profile people choose to donate their financial resources to people, charities, and causes that they believe in. Famous philanthropists give back by sharing their wealth, significantly, to help make the world a better place.
There are many philanthropists around the world that share the same passion for helping. How far did their charitable donations go? Read further to learn more.
Notable Charitable Donations in History from Philanthropists
George Soros
Among the significant charitable donations in history is from George Soros. He is an American billionaire investor and philanthropist that has already given $16.8 billion in donations and charitable work, twice his current net worth of $8.6 billion. He entered the world of finance and investments in 1956, where most of his fortune came from. In 1973, he decided to launch his own hedge fund and eventually became one of the most successful investors in the history of the United States.
With his hard-earned fortune, George Soros created the Open Society Foundations, a network of foundations, projects, and partners in over 120 countries. He started giving back to society by providing scholarships to Black South Africans. He helped promote the open exchange of ideas in Hungary, a communist country back then together with other initiatives. After the Berlin Wall fell, he founded the Central European University as a space to foster critical minds.
Since then, he started helping people and expanding his philanthropy to Africa, Asia, Latin America, and the United States. With a recent donation of $1.2 billion last year, the foundation supported causes such as economic equity, human rights, justice reform, anti-discrimination, and journalism. In 2020, he committed $37 million for undocumented immigrants that were excluded from U.S. federal aid, financial assistance that is significantly relevant during the start of the Covid-19 pandemic. His organization also committed $220 million as support for leaders in the Black communities across America in the wake of the George Floyd killing in Minneapolis.
Bill and Melinda Gates
Through their foundation, the Bill & Melinda Gates Foundation, Bill Gates, an American business magnate, co-founder of the Microsoft Corporation, and a philanthropist, together with his wife, lead the foundation to be able to help people everywhere. In the last two years, with over $1.75 billion in donations, their foundation helped in funding research, treatment, tests, and vaccines for Covid-19.
On top of their generous contribution in leading the fight against Covid-19, they are also helping developing countries in addressing people’s health care, hunger, and extreme poverty. They offer grants for organizations and causes that are inclined with gender equality, global development programs, global health programs, and global growth and opportunity programs. The organization is located worldwide with offices in Delhi, Beijing, London, Berlin, and several others in African regions. At present, the geographic reach of the found
Warren Buffett
Before Warren Buffet became a household name in charitable donations, he was known to the world as the most successful investor of the 20th century. His total net worth is currently at 101.8 billion USD and remains to be active in the industry as the chairman and CEO of Berkshire Hathaway.
With a total donation of $42.8 billion in his lifetime, most of the donations that Warren Buffett gives goes to the Susan Thompson Buffett Foundation, the Sherwood Foundation, the Novo Foundation, and the Gates Foundation. Recently, Buffett donated another $4.1 billion to the Gates Foundation, together with his resignation as trustee in the organization.
The amount can buy four private islands complete with a jet airstrip, staff houses, miles of roads, and communication hookups. But what can it do for charity? It can help provide jobs and education to people that are oppressed because of their race, sexual orientation, and other social barriers. The amount can also provide funding for other small non-profit organizations seeking financial aid all over the United States.
