Sir Richard Branson will give away half of his massive multi-billion dollar fortune. The Virgin Group founder agreed this week to sign the Giving Pledge that was started by Warren Buffett and Bill Gates three years ago.
In a pledge letter to the organization, Richard Branson and wife Joan say they want their fortune to help create “a healthy, equitable and peaceful world for future generations to enjoy.”
The couple claim that “stuff” has never brought them their happiness but rather friends, family, and good health.
Branson writes in the pledge:
“Happily our children, who will be our principal heirs, agree with me on this. As and when we take monies out of the Virgin Group of companies the majority of it will be invested in entrepreneurial approaches to help make a difference in the world.”
More than 30 US billionaires have already signed the pledge including new billionaire and Facebook founder Mark Zuckerberg.
The Giving Pledge does not ask the world’s most wealthy people to hand over their money. Instead, the pledge equates to a moral commitment to giving away large portions of a rich person’s wealth to good causes.
Richard Branson is now one of the first billionaires outside of the United States to sign the Giving Pledge. Also agreeing to the pledge outside of the United States have been Russian industrial magnate Vladimir Potanin and Ukrainian metals and media tycoon Victor Pinchuk
Other American pledges have been given by George Lucas and CNN founder Ted Turner.