The Importance of Philanthropy

This week America's richest had their yearly moment in the sun as the annual Forbes 400 was published. The main storylines included Bill Gates's reembergance at the top of the net worth pedastal and the unbelivable price of admission to the 400 club: 1.3 BILLION. However, there was another chart that I found within the magazine that I think is more important than anything else in this magazine: the Philanthropy chart or "Club Generosity." This chart created by the magazine examined the most generous billionaires along with the most miserly, and those that fell in between. To me, this list is of great importance, because these select billionaires have the ability to truly make a difference with the large size of their pocketbooks. I think that looking at these incredibly successful people's donated wealth is a unique chance to look at their personalities. Is raising one's own net worth more important than helping a charity? To some, sadly, the answer is yes.

At the bottom of this generosity chart is actually one of the most recognizable names: Steve Jobs. Now it is possible that Jobs may donate money to a fund or foundation that Forbes is unaware of, but assuming he doesnt, giving away 0% if his $5.7 billion dollar net worth is unimaginable. The example this sets for the rest of the world, especially those that look up to him as apple users, is a poor one. Now I am not a huge believer in karma, but Jobs has battled serious illness lately, and you always wonder if there is a mystical correlation between lack of philanthropy and phyiscal illness or mishappenings.

Meanwhile, on the complete other side of the spectrum from Jobs is well known Microsoft founder William (Bill) Gates III. Gates, unlike Jobs, sets an incredible example for people young and old across the world, as he has proven to be incredibly generous with his fortune. Of his philanthropy adjusted $92 billion dollar net worth, Gates has donated about $35 billion of that, or 38% of his fortune. Now, I understand it is hard to imagine knowing what to do with that much money, but that does not make giving away $35 billion dollars easy. Gates has been one of the most successful men in American history, and he sets an A+ example of how to deal with monetary success.

Remembering to give to Philanthropic causes and help those less fortunate than onesself is sometimes hard to do in this, the me-first 21st century. However, it has never been more important to be charitable and donate time and money to foundations or organizations that need help. You don't need to give $35 billion dollars to make a difference, any amount of time or money is accepted, but it is important to know that a little generosity can go a long way in life.