15 Billionaires Who Gave Away Most of Their Fortune

Income

Published: May 4, 2024 1:30 pm

If you’re looking for a little good news, you’ve come to the right place. Though billionaires have a reputation for being stingy, greedy, money-hoarding jerks, as with any other demographic, you have your good billionaires and your stingy, greedy, money-hoarding, jerky billionaires. Today we’re going to focus on the former. Believe it or not benevolent, generous, money-giving billionaires do exist. From endowing the arts to bankrolling human rights, the philanthropic efforts of the billionaires on 24/7 Wall St.’s list of 15 billionaires who gave away most of their fortune are making a positive difference. Continue reading to discover some pretty good folks!

Why It Matters

Highlighting the philanthropic ventures of billionaires sheds light on their business practices. Understanding how wealthy individuals use their resources can provide valuable insights to prospective investors. Not to mention that these billionaires’ stories may inspire others to donate to worthy causes as well. Our list of 15 billionaires who gave away most of their fortune is presented alphabetically.

John Arnold

John D. Arnold amassed a significant fortune as an energy trader at Enron and then as the owner/hedge fund manager at Centaurus Advisors, LLC. Through his philanthropic corporation, Arnold Ventures LLC, he channels his wealth into criminal justice reform, healthcare, and education. Estimated to be worth 3.3 billion dollars, Arnold has given away over 1.2 billion dollars, one of the most influential philanthropists of his generation.

Edythe “Edye” Broad

Edythe Broad is an art collector. Pictured: The Broad, a contemporary art museum in Los Angeles, California

Edythe “Edye” Broad, along with her late husband, Eli Broad, have made giving a way of life. active in various charitable endeavors, through the Broad Foundations, organizations dedicated to advancing education, improving healthcare, and supporting the arts. The Broads have made significant contributions to cultural institutions such as the Los Angeles County Museum of Art (LACMA), where they have funded the construction of the Broad Contemporary Art Museum and made substantial donations to support the museum’s programs and acquisitions. The Broads signed The Giving Pledge in 2010, committing to giving away the bulk of their wealth. With an estimated net worth of seven billion dollars, the Broad Foundations have donated over four billion dollars to date.

Warren Buffett

Warren Buffett, the legendary investor and CEO of Berkshire Hathaway (BRK-B), is renowned not only for his financial acumen but also for his commitment to philanthropy. In 2010, Buffett, along with Bill and Melinda Gates, launched the Giving Pledge—a commitment by some of the world’s wealthiest individuals to donate the majority of their wealth to charitable causes during their lifetimes or in their wills. Buffett’s pledge to give away more than 99% of his wealth has been a driving force behind the initiative, inspiring numerous other billionaires to follow suit. Warren Buffett has put his money where his mouth is, donating over 50 billion dollars throughout his life.

Andrew Carnegie

Carnegie Hall, Manhattan, New York City, USA — Andrew Carnegie was one of the first billionaire philanthropists. Pictures: Manhattan landmark Carnegie Hall

Andrew Carnegie is the OG, or more accurately, the OP- Original Philanthropist. Regarded as one of the most generous billionaires in history, Carnegie exemplified the spirit of philanthropy through his unprecedented contributions. Amassing a fortune in the steel industry, Carnegie believed in the responsibility of the wealthy to use their resources for the betterment of society. The man who dies thus rich dies disgraced, is how he put it. From the establishment of public libraries and universities to philanthropic foundations dedicated to education and culture, Carnegie donated 95% of his assets before his death in 1919. His legacy of giving continues to influence the habits of today’s billionaire class.

Chuck Feeney

The co-founder of Duty Free Shoppers Group, Chuck Feeney was recognized for his commitment to philanthropy. Operating with the principle of giving while living, Feeney donated billions of dollars through his foundation Atlantic Philanthropies, before he died in 2023. Feeny’s philanthropic endeavors have funded universities, hospitals, and social justice organizations around the world. In his lifetime, Chuck Feeney donated nearly all of his eight-billion-dollar fortune, quietly and without fanfare, demonstrating his unwavering dedication to improving the lives of others and leaving a legacy of generosity.

Melinda French Gates

Though Melinda French Gates will forever be associated with her wasband, she deserves her own spot in 24/7 Wall St.’s list of 15 billionaires who gave away most of their fortune. Her role in the philanthropic efforts of the Bill & Melinda Gates Foundation is one she takes seriously, with a hands-on approach. She has shaped the foundation’s strategies and initiatives, particularly those focused on women’s and girls’ empowerment, family planning, and maternal and child health. Though she continues to donate to the Bill and Melinda Gates Foundation, Melinda French Gates is now contributing the majority of her 76 billion dollar fortune elsewhere.

William Henry “Bill” Gates, III

William Henry “Bill” Gates has pledged to give away the lion’s share of his wealth.

Bill Gates has made significant contributions to philanthropy through the Bill & Melinda Gates Foundation. While Melinda has been more publicly visible, Bill was involved in shaping the foundation’s overall strategy. He has directed the foundation’s resources toward global health initiatives, including the eradication of malaria. As of 2022, Gates has pledged to give the lion’s share of his fortune to his eponymous foundation which distributes nine billion dollars annually.

Barbara and Amos Hostetter, Jr.

The former CEO of Continental Cablevision, Amos Hostetter Jr. is recognized for his philanthropic endeavors. Through the Barr Foundation, which he co-founded with his wife, Barbara, Hostetter has supported numerous initiatives to improve the quality of life for individuals and communities in and around Boston, particularly in the areas of education, healthcare, and the arts. Worth an estimated 3.5 billion dollars, Hostetter has thus far given away 1.2 billion dollars, with plans to keep giving.

Gordon and Betty Moore

Gordon and Betty More donated the majority of their wealth to their eponymous foundation.

The Intel (INTC) processor made Gordon Moore a rich man. With an estimated worth of seven billion dollars, Gordon and Betty Moore established the Gordon and Betty Moore Foundation in 2000. With a five billion dollar endowment, the foundation focuses on environmental conservation, scientific research, and patient care in the San Francisco Bay Area. A significant portion of their philanthropy is dedicated to environmental conservation efforts through the Moore Center for Ocean Conservation Research. The Moore Foundation also supports projects in areas like fundamental physics and astronomy. The Moores, who both passed away in 2023, were also staunch patient advocates and contributed to nursing education and patient safety initiatives.

Pierre Omidyar

The Omidyars have signed the Giving Pledge, committing to giving away the bulk of their wealth during their lifetimes.

Pierre Omidyar, the founder of eBay (EBAY), and his wife Pam give the majority of their wealth to philanthropic causes through the Omidyar Network, an investment firm they established in 2004. The Omidyars’ philanthropy supports organizations and initiatives that empower individuals and communities, and advance social justice and human rights. The Omidyars have signed the Giving Pledge, committing to giving away the bulk of their wealth during their lifetimes.

McKenzie Scott

Celebrated for her extraordinary generosity in the wake of her divorce from Amazon founder Jeff Bezos, is McKenzie Scott. After their 2019 divorce, Ms. Scott signed the Giving Pledge and as such has given away the majority of her wealth to charitable causes. She has donated billions of dollars to organizations working in various sectors, including education, racial equity, healthcare, and economics. Rather than establishing a foundation, Ms. Scott has donated to established nonprofits and organizations directly. Her willingness to engage directly with organizations and leaders has earned her a place in the hearts of those who know her.

Jim and Marilyn Simons

Simons, who made his fortune as a hedge fund manager as the founder of Renaissance Technologies, has given away over four billion dollars to date.

Through the Simons Foundation, Jim and Marilyn Simons have focused much of their philanthropy on scientific research, particularly in mathematics, theoretical physics, and the life sciences. The foundation funds a wide range of programs and efforts to improve public understanding of science. One of their more widely known programs, the Simons Collaboration on Ocean Processes and Ecology (SCOPE), supports research on marine microbial ecosystems. The foundation has established the Simons Institute for the Theory of Computing at the University of California, Berkeley, and the Flatiron Institute, a research institute dedicated to computational science, in New York City. Because their daughter, Audrey Simons Cappell is neurodivergent, the Simons Foundation supports autism research and education. Simons, who made his fortune as a hedge fund manager as the founder of Renaissance Technologies, has given away over four billion dollars to date.

Jeff Skoll

Skoll signed the Giving Pledge in 2010 and has since donated over 1.2 billion dollars to charitable causes.

Jeff Skoll, the first president of eBay and founder of Participant Media, focuses much of his philanthropy on supporting social entrepreneurship, sustainability, and the power of storytelling to drive positive change. Through his Skoll Foundation, established in 1999, he provides resources and support to organizations working to solve some of the world’s most pressing problems. Skills current venture, Participant Media produces documentaries that address social and environmental issues. Skoll signed the Giving Pledge in 2010 and has since donated over 1.2 billion dollars to charitable causes.

George Soros

Through his Open Society Foundations (OSF), George Soros focuses his philanthropic efforts on promoting democracy, human rights, and social justice around the world. Established in 1979, the OSF operates in over 120 countries and supports efforts to strengthen democratic institutions, advance healthcare and education, and promote freedom of expression. Soros’s commitment to promoting open societies and addressing global challenges through philanthropy is significant. Over his lifetime, Soros has given away 21 billion dollars.

Ted Turner

Last on 24/7 Wall St.’s list of 15 billionaires who gave away most of their fortune is Ted Turner. The founder of CNN, Turner’s philanthropic contributions are handled through the Turner Foundation, which he established in 1990. His philanthropy focuses on environmental conservation, nuclear disarmament, and global health. Turner has donated millions of dollars to causes that protect wildlife, preserve natural habitats, and promote sustainable environmental practices. Turner has also been actively involved in land conservation efforts, including the creation of several wildlife preserves and the donation of large tracts of land to conservation organizations. He has also been a vocal advocate for nuclear disarmament. Turner, who signed the Giving Pledge in 2010, has given away billions of dollars.