Eli Broad Pledges To Give Away 75% of His Fortune

By Lauren F. Friedman June 21, 2010

Late last week, in response to a campaign by Bill Gates and Warren Buffett, high profile Jewish philanthropists Eli and Edythe Broad publicly pledged to give away 75% of their $5.7 billion fortune. As part of an initiative that aims to increase philanthropy among the wealthiest Americans, Gates and Buffett have challenged the super-rich to join them in donating more than half of their money to charities and other not-for-profit causes.

“We agree with Andrew Carnegie’s wisdom that ‘the man who dies rich, dies disgraced,’” the Broads said in a statement.

New York City mayor Michael Bloomberg, whose net worth is estimated at $18 billion, has also signed on, and The Economist reports that others are expected to jump on the gold-plated bandwagon soon.

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