When you think of an investor, what images come to mind? You may have envisioned the rich and wealthy; people that have a lot of time and money on their hands. Even though investors tend to be viewed as privileged individuals, many of the most famous investors are also some of the world’s most famous philanthropists. These gurus are savvy in how to build their wealth and helping build a brighter future.
Andrew Carnegie
American history is filled with the stories of people who “lived the American dream”, and Andrew Carnegie was one of them. A Scottish immigrant, Carnegie was not a wealthy man in his youth. In fact he was far from it; he spent his days hard at work in factories. Opportunity came knocking with an investment opportunity. He chose to invest in the Woodruff Sleeping Car Company. The investment went well, and being a smart investor, he re-invested some of his earnings in oil. His financial situation went from uncertain to overwhelmingly secure.
Despite his success, philanthropy was a clear, moral choice for Carnegie. He wrote The Gospel of Wealth to express the opinion that it is an ethical responsibility for the wealthy to effectively disperse their excess wealth in order to benefit society. Carnegie was a strong believer in education, especially self-motivated education. That is why he helped build over 2,000 libraries in the US and across the globe in English speaking areas.
In 1911 he founded of the Carnegie Corporation of New York, an endowment institution that would ensure that his wealth was distributed to those in need even after his death. In its time, it was the largest philanthropic trust created. Today, the legacy continues and their grant program is well-known for sponsoring national and international educational programs.
George Soros
This man is listed on Forbes’ as one of the richest men in the world. His wealth is famous for contributing to “breaking the bank” on September 16, 1992 (now called Black Wednesday) at the Bank of England. This financial empire of one person came to be thanks to investing in the stock market. However, Soros is not the typical investor. He took great interest in finance and economics. These interests lead him to build a career with Arnhold and S. Bleichroeder, an investment advisement company. As his skill and knowledge grew, he eventually quit the position to invest on his own.
Imagine supporting education rights in 1970s South Africa - not an easy task for any philanthropist. Yet, it’s one of George Soros’ many philanthropic accomplishments. Over the years Soros has continued to donate billions to build universities, stop illegal drug proliferation, and fight poverty. Not only has he donated funds to the causes he believes in, but also his time. For example, he has served on the Board of Directors for the Council on Foreign Relations. Currently, he is the chairman of his Open Society Institute and is also chairman of the Soros Fund Management. Soros is active politically, evidenced by his support of peace initiatives and democracy in developing nations. His charitable activities show no sign of stopping.
Warren Buffett
Another one of Forbes’ richest men in the world (ranked third as of 2007), and also listed as one of TIME Magazines’ most influential people in the world, Warren Buffett found wealth through smart investments. He developed an investment approach all on his own - and it worked for him. His approach was, and still is, known to be conservative and focuses on the timing and value of the purchase. Currently, Buffett is the CEO of Berkshire Hathaway. The company’s life insurance division initially helped him to gain funding for his earlier investments. With successful choices in stocks and company acquisitions, Buffett amassed a fortune.
Recently, Buffett donated over 80 percent of that fortune to the Bill and Melinda Gates Foundation. It is one of the largest charitable foundations on earth, with a mission to increase education, access to technology, improve healthcare and reduce poverty. He has committed for the rest of his wealth to go to other trusts and foundations bearing his family’s name.
Source: http://www.ArticlePros.com/author.php?J.W. Maxwell
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