8 Great Philanthropists Every Student Should Study
All people living on the Earth are interdependent. While many of us live just trying not to do damage to ourselves, there are still those who wish to invest resources in solving serious problems on a regular basis. Even for students living on below-average income, philanthropic efforts can be very inspiring. They show that good heart and generosity sometimes matter more than bank accounts.
- Azim Premji,
head of IT company Wipro, is one of the wealthiest people in India and obviously the most significant philanthropist. His fortune is estimated at nearly $16.8 billion, and his contribution to the education system of India is really priceless. His philanthropic foundation has already helped more than 2,5 million kids to get an education, mostly elementary. $2 billion worth of shares was given to the philanthropic organization which supports teacher training and supports resources for education institutions. His example caused a splash of philanthropy in the country. Azim Premji believes education is very important and essential for success on different levels — individual, local, national and international.
- Warren Buffett, a famous investor and chairman of Berkshire Hathaway, is also known as a billionaire who does not spend much money for himself. Despite his wealth estimated at $47 billion, he spends very little. His children, after his death, will also inherit very little. Meanwhile, a great portion of his wealth goes into philanthropic initiatives. For example, in 2006 he gave more than 80% of his fortune to Bill and Melinda Gates Foundation. It was the largest donation in history. Also, Buffett holds different kinds of auctions and events which work for the benefit of different charitable organizations. Obviously, students who dream of becoming notorious philanthropists one day need to study his methods.
- Charles F. Feeney, a multi-billionaire who made his fortune on duty-free shops, lives even more frugal than Warren Buffett. His watch costs $15. Also, he prefers to give his donations in secret. As he spends a huge amount of income on charity, his fortune is valued at only $5 million. At the same time, $600 million of his fortune was donated to hospitals, schools and other non-profitable organization — all in secret.
- Andrew Carnegie, a well-known steel tycoon who began as the Scottish immigrant and earned $480 million (more than $10 billion in today’s money), believed that “the man who dies rich dies disgraced”. He donated money to many causes in the US, the UK, and other countries. The businessman is known for establishing Carnegie Hall, for sponsoring public libraries and even for establishing the building of thousands of church organs.
- Pierre Omidyar, the eBay founder, together with his wife Pam, founded Omidyar Network. This organization serves as a hub where non-profit and for-profit organizations come together to discuss the most efficient ways to improve society. It works as a think tank creating the best strategies possible. The money is spent on creating economic opportunities.
- Jane Addams, a Nobel Peace Prize winner, is another notorious philanthropist. Together with her partner Ellen Gates Starr, she founded Hull House at the end of the 19th The organization provided all sorts of help for marginalized immigrants. Addams also published a well-known memoir documenting the initiative.
- Alfred Nobel earned a solid fortune ($250 million in today’s money) through work with explosives and weapons. Despite his militaristic occupation, he did not want to leave a legacy of death and devastation. Alfred Nobel established Nobel awarded in 5 different fields not depending on the country of origin. Today, people remember him more as a great philanthropist than as the inventor of dynamite.
- Li Ka-Shing is one of the wealthiest businessmen in Hong Kong. His assets are estimated at around $26 billion. A great part of his fortune is spent on philanthropy. Beginning from 2006, he has spent on philanthropic efforts — education, medicine, etc. — nearly one-third of his wealth. One of the biggest donations Li Ka-Shing made was $1 billion the Faculty of Medicine in Hong Kong.
