Bill Gates and Warren Buffet recently launched The Giving Pledge, a project to encourage billionaires to donate half of their money to charity. So far, 40 billionaires in total have taken the pledge, which will potentially add over $600 billion to US charities.
Filmmaker George Lucas, media mogul Ted Turner and former eBay president Jeff Skoll are among 40 billionaires pledging to give half of their fortune to charity
The Giving Pledge is not an organization for combined donations; rather, each person makes their own donations based upon their own interests. Each person that takes the pledge is asked to encourage others to do the same.
In an era of government cutback and tight wallets of regular givers, these donations will undoubtedly cause a stir in the charitable arena. No information has been released to indicate how donations will be made, whether by direct giving to organizations or application and competition. Stay tuned for more information.
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