Billionaires Eli and Edythe Broad to give away 75 percent of their money


Eli and Edythe Broad became the latest to accept the philanthropic gauntlet that Bill Gates and Warren Buffet laid down in challenging the world’s wealthiest people to give away to charity at least half of their money.

The Broads, one of the world’s wealthiest and most philanthropic couples already, announced last week that they would give away 75 percent of their money by the time they die, according to several reports.

The “Giving Pledge” challenge from Buffet and Gates came out of a series of dinners the two have held over the past year to discuss philanthropy and the recession with the country’s mega-wealthy.

A number of prominent Jewish names have been linked to the challenge… George Soros and the Broads have agreed to take the challenge. 

“We agree with Andrew Carnegie’s wisdom that ‘the man who dies rich, dies disgraced,’” Eli and Edythe Broad said in a statement, according to Bloomberg/Businessweek. “Philanthropy is unbelievably rewarding, and we hope others will also realize the benefits of being active, engaged philanthropists.” 

Ron Perelman, who gives away about $60 million per year and Michael Bloomberg, New York city’s mayor who gave away $254 million last year both endorsed the idea, though it is unclear if they had accepted the challenge, according to The Wall Street Journal.

Though judging by this, quote on Bloomberg/Businessweek, it would appear that the mayor is heavily considering it:

The pledge “is a fantastic idea,” Bloomberg said in a statement yesterday. “I am a big believer in giving it all away and have always said that the best financial planning ends with bouncing the check to the undertaker.”

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