Environmental initiatives are set to receive a huge boost in the form of at least half of Sir Richard Branson's fortune.
The billionaire, who made his billion as the founder and chairman of the Virgin Group, is one of twelve such tycoons who have signed the Giving Pledge.
The Giving pledge was founded by Bill Gates and Warren Buffet as a means to encourage the world's elite to donate at least half of their fortunes to charities of their choice. Since its founding back in 2010 the campaign has been supported by 105 wealthy families with an estimated worth of over $500 billion.
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The new group, which includes Branson, Vladimir Potanin, Azim Premji, Hasso Plattner, David Sainsbury, Patrice Motsepe, and Vincent Tan Chee Yioun, will join a list which includes the likes of Mark Zuckerberg, Ted Turner, George Lucas, Michael Bloomberg, and Steve Case.
On his personal blog Branson explained that, "stuff really is not what brings happiness. Family, friends, good health, and the satisfaction that comes from making a positive difference are what really matters. Happily our children, who will be our principal heirs, agree with me on this."
Branson plans to give his donations to social enterprises who focus on environmental issues.
By. Joao Peixe of Oilprice.com
Joao is a writer for Oilprice.com More