Yahoo Finance Warren Buffett, James Simons And Phil Knight Lead List Of Biggest Charitable Donations For 2023
Oracle of Omaha Warren Buffett was the foremost philanthropist in the United States, according to the "Chronicle of Philanthropy's" annual list of the year’s biggest donations. He donated approximately $541.5 in Berkshire Hathaway Inc. stock to the Susan Thompson Buffett Foundation in honor of his first wife.
Buffett's gifts reflect his commitment to making a positive impact on society and highlight the growing importance of corporate and individual philanthropy in addressing global challenges.
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The second-largest donation for 2023 came from mathematician and hedge-fund founder James Simons and his wife, Marilyn. They donated $500 million donation to the State University of New York at Stony Brook. Simons, who previously taught and chaired the mathematics department at Stony Brook, shares a deep connection with the institution. Marilyn Simons, who earned her bachelor's degree and a Ph.D. in economics there, joined her husband in their shared commitment to higher education, exemplified through their generous contribution to Stony Brook’s endowment and past charitable contributions.
Other notable contributions include Nike Inc. Co-Founder Phil Knight and wife, Penny, who gave $400 million to the 1803 Fund, aiming to rejuvenate Albina, a historically Black neighborhood in Portland, Oregon, devastated in the 1970s. The donation seeks to address the community’s socio-economic challenges and contribute to its revitalization.
Ross Brown, founder of industrial equipment manufacturer Cryogenic Industries Inc., donated $400 million to his alma mater, the Brown Institute for Basic Sciences at the California Institute of Technology.
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Buffett’s philanthropic endeavors have been wide-ranging, encompassing diverse sectors such as education, healthcare, poverty alleviation and environmental conservation. By directing his resources toward initiatives that address systemic issues, Buffett exemplifies the potential impact of philanthropy from high-net-worth individuals to affect societal change.
The surge in charitable giving by high-net-worth individuals like Warren Buffett, Phil Knight and others underscores the need for large-scale giving and the wealth at these people's disposal. Buffett’s commitment to the Giving Pledge, a philanthropic initiative he co-founded with Bill and Melinda Gates, further illustrates his dedication to encouraging fellow billionaires to commit the majority of their wealth to focus on solving issues such as climate change, housing shortages and other concerns.
The Giving Pledge encourages billionaires to commit the majority of their wealth to philanthropy. Among its highest profile and wealthiest members are Oracle Corp. Chief Technology Officer Larry Ellison, Tesla Inc. CEO Elon Musk, Virgin Group Founder Sir Richard Branson and Meta Platforms Inc. Founder and CEO Mark Zuckerberg. This collective commitment transcends individual fortunes, fostering a culture of impactful and purpose-driven giving that aims to address global challenges and create lasting positive change in society.
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This article Warren Buffett, James Simons And Phil Knight Lead List Of Biggest Charitable Donations For 2023 originally appeared on Benzinga.com
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