Filed in archive Global Philanthropy by mstandaert on December 5, 2006

A story on a year of hyper-giving by the world's richest at Forbes.com:

It has been a phenomenal year of giving from the world's super rich. The world's richest man and most famous philanthropist, Microsoft Chairman Bill Gates, continued to tap into his enormous $32 billion (endowment) Bill and Melinda Gates Foundation to fight poverty and improve health and education around the world. But he was upstaged in June by his good pal and bridge partner Warren Buffett, Berkshire Hathaway's chief executive, who surprised the world by announcing his decision to donate most of his fortune--$31 billion--to the Gates foundation. The pledge set the record for the biggest philanthropic contribution ever made.

Perhaps it is good old-fashioned rivalry among billionaires to see which one can outdo the others. Maybe it is peer pressure to look good among one's billionaire friends. Or it could just be a desire to leave a lasting legacy. Whatever the reason, it seems that giving generously is more fashionable than ever among the billionaires set. A $1 million gift hardly even makes headlines today.

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