Houston Billionaires Pledge 95% of $11 Billion Fortune in Landmark Philanthropic Move

Nancy and Rich Kinder, prominent Houston billionaires, are giving away 95% of their nearly $11 billion fortune. They announced this monumental philanthropic commitment in a recent interview. The funds will support local causes in the city of Houston.

The couple were early signatories of The Giving Pledge. This campaign encourages the world’s wealthiest individuals to donate the majority of their wealth. Their decision underscores a significant trend in major philanthropy.

Focusing Philanthropy on Houston’s Future

The Kinders plan to direct their wealth to local parks, education, and the arts. They stated their giving is a way to give back to the community that contributed to their success. According to ABC13 Houston, Rich Kinder emphasized the role others played in their accumulation of wealth.

This local focus aims to create a lasting impact within Houston. The scale of the pledge is unprecedented for the city. It will transform public spaces and educational opportunities for residents.

How the Kinders Compare to Other Major Donors

This pledge places the Kinders among the most generous philanthropists globally. Their commitment of 95% of their net worth is exceptionally high. For context, Forbes tracks the lifetime giving of numerous billionaires.

Warren Buffet leads in total amount given, with $62 billion in lifetime donations. Bill and Melinda Gates follow with $47.7 billion given. However, as a percentage of wealth, George Soros has given 76% of his net worth.

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What is The Giving Pledge?

The Giving Pledge is a commitment by billionaires to donate most of their wealth. It was started by Bill and Melinda Gates and Warren Buffett. Signatories promise to give their money away during their lifetime or in their wills.

How much are the Kinders giving away?

Nancy and Rich Kinder are pledging 95% of their nearly $11 billion fortune. This amounts to over $10 billion. The funds are specifically earmarked for local Houston initiatives.

Who are the world’s most generous billionaires?

According to Forbes, Warren Buffett has given the most in total, at $62 billion. George Soros has given the highest percentage of his wealth, at 76%. MacKenzie Scott is also a top donor, having given over $19 billion.

What will the Kinder donation fund in Houston?

The money will support local causes like public parks, education systems, and arts programs. The goal is to create a lasting positive impact on the city. Specific projects and recipients are expected to be announced in the future.

Why are the Kinders giving their money away now?

They believe their wealth was accumulated with the help of others. The couple feels a strong responsibility to give back to their community. This planned giving ensures they can direct the funds to causes they care about.