Multi-million dollar charitable donations are no longer just for veteran investment magnates or software billionaires. As the number of mega-rich young entrepreneurs increase so has the temptation to join an exclusive club of billionaires that has these young bucks rubbing shoulders with long-time philanthropists and signing part of their fortunes away to good causes.
Facebook CEO Mark Zuckerberg and co-founder Dustin Moskovitz, with personal net worths of 7 billion and 1.4 billion respectively, have each signed onto The Giving Pledge, a campaign spearheaded by Bill Gates and Warren Buffett to encourage the worlds wealthiest to commit to giving away the majority of their wealth over the course of their lifetime or after their death, to charitable and philanthropic organizations. As his personal net worth increased by several billion over the last year alone and resisting buyout offers from as many as 11 companies in the past four years (according to Business Insider), Zuckerberg has made it clear he’s not that interested in money and is now in very generous mood. In September of this year he donated 100 million to the public school system in New Jersey that landed the media-shy CEO on Oprah and softened his image somewhat after a brutish portrayal in the Hollywood fictional film “The Social Network”.
Zuckerberg and Moskovitz are the youngest billionaires on the list of 57 pledges and are joined by technology titan Larry Ellison, eBay founder Pierre Omidyar, internet pioneer Steve Case, and filmmaker George Lucas.