Philanthropy from billionaires is becoming a very common occurrence. Whether it’s only for good publicity or because they generally care about the welfare of others, people with money tend to donate large amounts to charity.
The Giving Pledge is one such campaign that was started by Warren Buffett along with Bill Gates and his wife. It is made up mostly of American billionaires that have pledged to donate the majority of their wealth to charity.
Patrice Motsepe, the first black South African male billionaire, recently became the first African to join the group and their efforts. Motsepe stated, “We recognize the huge responsibility and duty that the Motsepe family has to the poor.” He also said that he was inspired to take up the cause because he had not seen the fortunes of poor South Africans improve much even after country ended white-minority rule in 1994. Motsepe is a mining magnate and the owner of African Rainbow Minerals, he didn’t give specifics on how much he would be donating but he did say that he “will contribute at least half of the funds generated by our family assets to the Motsepe Foundation.” According to Forbes, Motsepe is worth an estimated $2.65 billion.
It is really inspiring to see a person take it upon himself to ensure a better life for an entire country of people.
Do you believe billionaires are obligated to secure the wellbeing of people in their country?