5/1/07

Insights into Highly-Publicized Charitable Givers

Converted to today's dollars, during his lifetime the industrialist Andrew Carnegie gave away $8 billion of his $10.3 billion net worth, or 78 percent, according to Carnegie Corp. figures.

Microsoft mogul Paul Allen, net worth $16 billion, gave away one-third of 1 percent of his fortune.

Oracle magnate Larry Ellison, net worth $20 billion, half of 1 percent.

Pierre Omidyar, founder of eBay, net worth $7.7 billion, less than 1 percent.

Nike tycoon Philip Knight, net worth $7.9 billion, slightly more than 1 percent.

For the average person to keep much more than he or she gives is understandable; for the super-rich, it's a different matter.

[Excerpt of an article by Gregg Easterbrook, The San Jose Mercury News]

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