Others turn to more philanthropic efforts, choosing to donate their wealth to different causes through foundations and trusts.
Facebook CEO Mark Zuckerberg announced the birth of his daughter Max Tuesday afternoon.
Along with the official announcement, he shared that he and wife Priscilla Chan plan to give away 99% of their Facebook shares — currently valued at about $45 billion — to charity.
We’ve rounded up some of the other most generous people in tech, all of whom have decided to donate large portions of their wealth to charity rather than leave all of it to their children.
Microsoft co-founder Bill Gates
Gates has been open about his decision not to leave his $84.9 billion fortune to his three children. They will reportedly inherit just a small slice, about $10 million each.
“I definitely think leaving kids massive amounts of money is not a favor to them,” he said in a Reddit AMA.
He founded the Bill & Melinda Gates Foundation in 1994, and it currently has more than $38 billion in assets. Gates also teamed up with longtime friend Warren Buffett to start a campaign called “The Giving Pledge,” which encourages other billionaires to donate at least half of their fortune to charity.
AOL co-founder Steve Case
Case helped millions of Americans get online, and now he’s donating much of his wealth to developing other technologies.
He founded the Case Foundation in 1997, which focuses on using technology to make philanthropy more effective. He also started an investment firm called Revolution, which invests in startups outside of Silicon Valley, and signed the Giving Pledge.
“We share the view that those to whom much is given, much is expected. We realize we have been given a unique platform and opportunity, and we are committed to doing the best we can with it,” he and wife Jean wrote. “We do not believe our assets are ‘ours’ but rather we try to be the responsible stewards of these resources.”
Salesforce CEO Marc Benioff
Benioff recently launched a campaign called SF Gives, which challenged tech companies to raise $10 million for San Francisco-based nonprofit programs in just 60 days.
He’s encouraged other corporations to follow his 1/1/1 model, which says that a company should donate 1% of its equity, 1% of its employees’ time, and 1% of its resources to philanthropic efforts.
He and wife Lynne have also personally given a total of $200 million to the children’s hospital at UCSF.
from Business Insider http://ift.tt/1XEZOkG