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10 Philanthropy Projects by Business Moguls

Most successful entrepreneurs have reached their current fame and success through hard work and determination. After achieving their goals, they have dedicated their accumulated wealth to various charitable foundations and have initiated many philanthropy projects.

Here will list 10 philanthropy projects that business moguls have developed a personal interest in.

1.    Bill and Melinda Gates Foundation

Bill Gates is the founder and owner of the Microsoft Corporation and is the co-chairperson of the Bill and Melinda Gates Foundation. The foundation began in 1994 and its three key trustees are Bill Gates, Melinda Gates (wife of Bill Gates) and Warren Buffet, who is a long-time friend of Bill Gates.

It was started with a donation of US $30 billion and it is the world’s largest charitable organization. The foundation works to improve healthcare within the world and to reduce poverty. By the year 2007, the Bill and Melinda Gates had donated almost $30 billion to charity and are known as the second-most generous couple in America. Eventually, they plan to donate 95% of their wealth to philanthropic projects.

2.    The Giving Pledge

The Giving Pledge is originally a campaign to motivate the wealthiest of Americans, to donate their money to charitable causes. It specifically targets billionaires and was initiated in 2010 by Bill Gates and Warren Buffet, both of whom have pledged to donate at least half of their wealth to charity during the course of their lifetime. Founder of Facebook, Mark Zuckerberg and co-founder of Microsoft, Paul Allen have also made a similar pledge to this campaign.

3.    Louis Vuitton Foundation

Bernard Arnault, CEO of Louis Vuitton Moet Hennessy (LVMH) is ranked among the richest people in Europe and has a personal net worth of more than US $ 40 billion. He founded the Louis Vuitton Foundation for Creation in 2006 at the cost of $140 million.

The foundation aims to enhance patronage initiatives, which is a goal that the LVMH has been trying to achieve since the 1990s. It also works for the promotion of contemporary art and culture. It is expected that this foundation will become an Art Museum within France to showcase contemporary art in the future.

4.    Michael and Susan Dell Foundation

Michael Saul Dell is the CEO and founder of Dell Inc. He began his career as a young boy who was interested in building computers and selling them to the people. Today, he is among the richest men in the world and has the ownership of one of the most profitable computer companies in the world. The annual sales of his company are up to $50 billion and a small company that started with a minimum capital is a mega-corporation today, being at the worth of almost $100 billion.

Michael Dell and his wife Susan own the charitable foundation named it Michael & Susan Dell Foundation. It was initiated in 1999 and funding from Dell Inc. has been the key investment made to it. The foundation mainly collects money to help children charities around the globe, and almost US $650 million have been distributed till now through this foundation to various charities in India, South Africa, and the United States.

5.    Oprah’s Angel Network

Oprah Gail Winfrey is an actress, talk show host, and philanthropist. Aside from visiting relief victims that have survived the devastating Hurricane Katrina, she is also known as one of the most generous Americans, because by 2012, she had donated almost $400 million to various educational causes. She has also made a notable donation of $12 million to the Smithsonian’s National Museum of African American History and Culture.

Oprah’s Angel Network was a charity created by Oprah in 1998 to promote charitable projects and provide grants to other charitable organizations. The trust collected a huge sum of $80 million for various projects but was unfortunately suspended in the year 2010. However, this charity had been a big help to the victims of Hurricane Katrina, when it raised almost $11 million for relief efforts. Oprah herself donated $10 million to the same cause.

6.    Carlos Slim Helu Foundation

The chairman and CEO of Telmex is Carlos Slim Helu. He is a true American capitalist who likes to live his life in style and class. He is a multi-billionaire with an estimated fortune of $74 billion, which makes him one of the richest men in the world.

The foundation began in 1986 and it aims to help and promote the development of health, sports, and education in Latin America. It is said that the assets of the organization are up to $4 billion and will be used for the betterment of the Mexican people and their country. Carlos Helu had also donated $100 million to fight poverty in Latin America, a campaign initiated by the former US President Bill Clinton.

The ALAS Foundation (Latin America in Solidarity Action) also received a donation of $110 million from Carlos Slim Helu. This is a non-profit organization that is working to improve the situation of health and education within Latin America.

7.    The Paul G. Allen Family Foundation

Paul Gardner Allen is a major business mogul, working as an investor, as well as a philanthropist. He is well-known as the co-founder of Microsoft Corporation along with Bill Gates. His estimated wealth is around $15 billion. The Paul G. Allen Family Foundation was created by him in 1986 so that he could make various contributions to charitable organizations that are related to health, as well as science and technology.

8.    PAIDEIA Foundation

The PAIDEIA Foundation began in 1986 and was founded by Amancio Ortega and his ex-wife. Amancio Ortega is one of Spain’s richest men and the CEO of Inditex Group. His ex-wife is currently in charge of the foundation and is providing training and education to people with mental and physical disabilities. The organization has won numerous awards as well.

9.    Amancio Ortega Foundation

This is a non-profit institution that works for the promotion of education, culture and scientific research. It was created in 2001 by Amancio Ortega and he is currently the president of this charitable institute, with his daughter acting as its vice president.

10. Mikhail Prokhorov’s Fund

Mikhail Prokhorov is a Russian billionaire who is famous as the most handsome and most eligible bachelor in the world. His trust fund is named after him and focuses on many different projects in the fields of education, health and mass media.

The list above showcases ten philanthropic projects that have been initiated by famed business moguls. Business tycoons all over the globe are working to improve the overall conditions of the world population by engaging their finances in charitable causes so that we can all live in a better world.

  • ForeverMogul Magazine works with a talented group of writers from around the world. Stay connected to ForeverMogul Magazine as we share in depth premium content in three primary channels - Mogul Business, Fine Living, and Philanthropy. We love to hear your opinions and suggestions, but most of all, we love to interact with you. You can follow us on Twitter and Facebook by clicking on the links below or you can always contact us here.

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