It looks like the efforts of philanthropist’s Bill and Melinda Gates and Warren Buffet are paying off. Several billionaires are coming forward to pledge their wealth to philanthropy. Paul Allen is the most recent billionaire who has accepted the philanthropists’ challenge and has agreed to pledge most of his $13.5 billion fortune to charity. Allen is one of the first to make a public announcement since the challenge. Allen, who is co-founder of Microsoft, retired from the company in 1983, but he reportedly still holds a stake in the company. By making public his pledge, Allen hopes to inspire various other billionaire folks to come forward and pledge their wealth to charity. A philanthropist himself, Allen is the founder of The Allen Institute for Brain Science, the Experience Music Project a music museum in Seattle, and the Paul G. Allen Family Foundation. As of last year, Allen has already donated an estimated $900 million to charitable causes.
If more billionaires come forward, various charities will definitely benefit a great deal.