Moral Low Ground

Economy

57 Billionaires Pledge to Donate At Least Half Their Fortunes

zuckerberg by andrew feinberg

Facebook founder Mark Zuckerberg and 16 other billionaires have joined a philanthropic campaign started by Bill Gates and Warren Buffett in which they pledge to give away at least half of their fortunes. Fifty-seven billionaires are now participating in the ‘Giving Fund.’

“People wait until late in their career to give back. But why wait when there is so much to be done,” asked Zuckerberg, who is only 26. “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,” he added.

The Facebook founder has  already given $100 million to troubled schools in Newark, New Jersey.

Other billionaires who’ve made the pledge include: Dustin Moskovitz, co-founder of Facebook; AOL co-founder Steve Case; formerly disgraced Wall Street financier Michael Milken; Morningstar CEO Joe Mansueto; private investor Ted Forstmann and businessman Nicolas Berggruen.

They join Warren Buffett, who’s promised to give away 99% of his fortune, and Bill and Melinda Gates, who have given $28 billion to their eponymous foundation.

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