Rich People Giving Away Money

Filed under: Rich People - 16 May 2011  | Spread the word !

Many people dislike rich people. While there are quite a few reasons why someone may feel this way, one common reason is because others feel that rich people are greedy. Although this is a common stereotype, that doesn’t mean it’s true. On the contrary, many rich people are quite generous. Over the last few years, there have been quite a few high profile examples of extremely wealthy people giving away significant amounts of money.

One great example of rich people doing good with their money is the Bill & Melinda Gates Foundation. Although this foundation was created back in 1994, it’s notoriety significantly increased in 2006 when Bill Gates announced that he was stepping down from Microsoft to focus his efforts on the foundation. Gates has put quite a bit of money into his foundation. Not only did he put in nearly one hundred million dollars when he founded it in 1994, but he made another huge donation of $126 million in 2000. What’s even more impressive is that Gates isn’t the only person using his foundation to give away money. In 2006, Warren Buffett announced that he was giving away 10 percent of his company to the foundation. In the year he made this donation, this amount of his company was worth around thirty billion dollars!

Thanks to the money that it has to work with, this foundation is able to do a lot of good on a regular basis. Examples of how this rich foundation has given away money in 2011 include its Gates Millennium scholarship, a project to decrease the prevalence of malnutrition, child care centers in impoverished areas, a project for child immunizations and helping to fund higher level education programs.

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