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December 16, 2013 at 09:08 AM
The CEO of Groupon and a top hotel executive are among seven ultrawealthy individuals and families who recently pledged at least half their wealth to charity.
Started in 2010 by Warren Buffett and Bill and Melinda Gates, the global Giving Pledge initiative has now received pledges from 122 signatories, representing 12 countries and 25 U.S. states and the District of Columbia.
The Giving Pledge does not involve direct appeals, pooling money or requirements to support a particular cause or organization, according to a statement from the group.
Pledge signatories come together throughout the year to discuss challenges, successes and failures, as well as how to be smarter about giving.
Melinda Gates said in the statement that the Giving Pledge “hopes to inspire people to tackle problems that are inherently difficult and diverse in an effort to address the pressing social issues they care about most.”
The biographies of all 122 signatories can be viewed on the Foundation Center’s Glasspockets.org site.
Following are the newest pledge signatories.
Beth and Seth Klarman. He is president and CEO of The Baupost Group, an investment firm, and she is president of The Klarman Family Foundation.
Country of citizenship: U.S.
Net worth: $1.1 billion (Forbes 2013)
“One key observation is that society’s problems seem to be compounding as fast or faster than wealth can compound, suggesting a greater urgency to current funding. And when we make charitable gifts, we almost always feel richer, not poorer, for having been given the opportunity to help.”
Richard Edwin and Nancy Peery Marriott. He is chairman of the board of directors of Host Hotels & Resorts and also chairman of First Media Corp. She is active in religious, community and civic activities and serves on First Media’s board.
Country of citizenship: U.S.
Net worth: $2 billion (Forbes 2013)
“Down through the years we have always supported the schools that have educated and trained us, the institutions that have helped us live healthy lives, and the communities that have supported us in our business endeavors. We will continue to do so during our lives and pledge that the bulk of our estate will go to a charitable foundation that will be run by our four very capable daughters who are already heavily involved in supporting their own communities. They are the greatest blessings of our lives and we are thrilled that they will be able to help bless the lives of future generations.”
Yuri Milner founded Mail.ru Group and now invests in Internet companies through the DST Global family of funds.
Country of citizenship: Russia.
Net worth: $1.1 billion (Forbes 2013)
“The Giving Pledge encourages more than investing in problem solving. It brings something approaching the scientific method to philanthropy. This means not just giving, but trying to learn from real-world experience and experiment in order to give effectively. This is a sure sign of progress: we are finding more answers, and we are getting better at asking the right questions.”
