Houston Billionaires Pledge Over $10 Billion in Unprecedented Philanthropic Gift

Houston billionaires Rich and Nancy Kinder have announced a historic philanthropic pledge. They plan to donate 95% of their wealth to charity. This commitment totals more than $10 billion.

The couple confirmed their plans in an interview with ABC13. Their giving will focus on city parks, the arts, and education. This marks one of the largest charitable pledges in recent history.

The Scale and Focus of the Kinder Fortune

The Kinders have a net worth of $11.3 billion according to Forbes. Rich Kinder co-founded the energy pipeline giant Kinder Morgan. He stepped down as CEO over a decade ago to focus on philanthropy.

Their giving will significantly impact the Houston area. The Kinder Foundation has already committed over $850 million in grants. More than $621 million has been distributed to date.

The couple are long-time supporters of local projects. They have backed Emancipation Park since 2012. Their recent $18.5 million expansion project for the park underscores their commitment to urban green spaces.

A Lasting Legacy of Strategic Giving

The Kinders were early signatories of The Giving Pledge. This initiative was created by Bill Gates, Melinda French Gates, and Warren Buffett. It encourages the world’s wealthiest to dedicate most of their wealth to philanthropy.

Their strategy targets areas often overlooked by city budgets. Parks and urban green spaces are a primary focus. They believe these projects enhance quality of life for generations.

Rich Kinder expressed a simple motivation for their generosity. He said they want to leave the world a better place. Nancy Kinder added that she hopes their grandchildren will be proud and continue this legacy of giving.

This $10 billion pledge from the Kinder Foundation sets a new benchmark for philanthropic giving. Their strategic focus on local community assets ensures a profound and lasting impact on Houston. The Kinder donation exemplifies a powerful commitment to societal improvement.

Thought you’d like to know

How much money are the Kinders donating?

Rich and Nancy Kinder are donating 95% of their wealth. This amounts to over $10 billion. The funds will support charities during their lifetimes and after.

What causes will the Kinder donation support?

The donation will focus on city parks, arts, and education. It emphasizes local causes in the Houston area. Urban green space is a primary priority.

What is The Giving Pledge?

The Giving Pledge was established by Bill Gates, Melinda French Gates, and Warren Buffett. It encourages billionaires to give away most of their wealth. The Kinders were among the first to sign it.

How has the Kinder Foundation helped Houston so far?

The foundation has distributed over $621 million in grants. A recent $18.5 million project expanded Emancipation Park. They have supported the park since 2012.

Why are parks a focus for their philanthropy?

Rich Kinder noted that city budgets often run out of money for parks. He believes urban green space is vital for community health. Their grants aim to preserve these spaces for future generations.

Trusted Sources

ABC13, Forbes, Houston Chronicle, The Giving Pledge