The British business mogul and
founder of Virgin Records and Virgin Atlantic Airways has vowed to give at
least half of his $4 billion wealth away to charity.
He made the plan official by signing
the Giving Pledge, a philanthropic initiative started by U.S. billionaires
Warren Buffet and Bill and Melinda Gates in 2010, the elite club confirmed.
"'Stuff' really is not what
brings happiness. Family, friends, good health and the satisfaction that comes
from making a positive difference are what really matters," Branson said
in a statement announcing the generous promise.
"Happily our children, who will
be our principal heirs, agree with me on this," he said, referring to
daughter Holly, 31, and son Sam, 26.
He said money taken out of his
Virgin Group holdings will be invested in "collaborative" charities
that work with business and governments to "create a healthy, equitable
and peaceful world."
"This makes individuals sit up and think," he wrote on
his blog. "Hopefully, the vast majority will realize there are better ways
of using wealth than leaving it to future generations."
The maverick magnate with shaggy blond hair and a matching goatee
said he hopes to help the Gates-led group add even more international
billionaires to its ranks.
Famous for his daredevil stunts, his private Caribbean island and
his quest to send paying civilians - including aspiring astronaut Ashton
Kutcher - into sub orbital space, Branson headlined a group of a dozen overseas
billionaires announced as new Giving Pledge signatories Tuesday.
The new members include mining billionaire Patrice Motsepe from
South Africa and software tycoon Azim Premji from India.
"I am excited about the conversations and ideas that will
happen thanks to this impressive group of international philanthropists. In
many cases, their perspectives on giving will be informed by living much closer
to the areas of greatest need," Bill Gates said in a statement.
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