,

How the Richest Americans are Combatting Poverty

Wealthiest_Americans
The members of Forbes’ Top 25 richest Americans includes some of the most influential people in American society. However, these people are not just affecting the lives of Americans – many are using their wealth and influence to better the lives of the world’s poorest people. Here are two of the wealthiest that are making a difference.

Famous as the co-founder of Microsoft, Bill Gates is ranked number one on this list, with a net worth of approximately $81 billion. Focused on the idea “that all lives have equal value,” the Gates family founded the Bill and Melinda Gates Foundation in 2000. Since its launch, the foundation has donated over $30 billion to worthy causes around the world, including organizations aimed at expanding access to immunizations and groups aimed at supporting economic development. The Foundation has four main grant-making areas: global development, global health, global policy and advocacy, and the United States. GAVI Alliance, the organization with the largest grant commitment at $1.5 billion, was also created in 2000 with the goal of expanding access to vaccination in the poorest areas of the world.

An avid supporter of the Bill and Melinda Gates Foundation, as well as a trustee of the organization, Warren Buffett is the second wealthiest person in the Forbes’ list. Having earned his fortune from Berkshire Hathaway, a conglomerate company with stakes in many subsidiary companies, Buffett too makes philanthropy a top priority. Since 2006, Buffet has donated stocks from his company to different philanthropies based on his pledge made in that year to donate the majority of his fortune in annual installments. On July 6, 2015, he announced the latest donation of over $2.8 billion, with the largest amount going to the Bill and Melinda Gates Foundation and the rest donated to four family foundations: Susan Thompson Buffett Foundation, the Susan A. Buffett Foundation, the Howard G. Buffett Foundation and the NoVo Foundation.

These are just two of the richest Americans pledging billions of dollars to the fight against problems stemming from global poverty. Through advocacy, fundraising and donation, these men hope to improve life expectancy, economic mobility and more for those living in poverty in the United States and abroad. While the average American may not be able to donate such significant amounts of money, he or she can donate time and his or her voice to the larger discussion of global poverty. As Bill Gates said as the keynote speaker at the Forbes 400 Summit on Philanthropy last month, “Risk takers need backers. Good ideas need evangelists. Forgotten communities need advocates. And whether your chief resource is volunteer time or hard-earned dollars, for a relatively small investment catalytic philanthropy can make a big impact.

– Rachelle Kredentser

Sources: Forbes 1, Forbes 2 Gates Foundation 1, Gates Foundation 2, Gates Foundation 3, Huffington Post, Bank of America, NY Daily News, Philanthropy Roundtable, WarrenBuffet.com
Photo: World Crunch