LORD ASHCROFT ANNOUNCES GIVING PLEDGE FOR HALF HIS FORTUNE – Lord Ashcroft is a billionaire businessman and Tory peer and is get another high net worth individual to pledge half of his wealth to charity, some £600 million.
Lord Ashcroft takes on the move that was started by multi-billionaire Bill Gates, the founder of Microsoft who set up his own foundation. Soon after his long time friend and multi-billionaire Warren Buffet also took the initiative and pledge a very substantial proportion of his wealth to charity.
The concept of pledging vast sums of personal wealth has really taken off and the idea is simply to use the money for the betterment of mankind. Lord Ashcroft now joins the likes of Sir Richard Branson, owner and founder of the Virgin Empire, John Caudwell who started the Phones4You chain and quite a few others.
Lord Ashcroft is not unfamiliar with the concept of giving back to help others. Lord Ashcroft was responsible for creating ‘Crimestoppers’ and donated £20 million in order to fund the project and which continues to be a great success in tracking down and bringing criminals to justice.
Lord Ashcroft is obviously a man who strongly believes in social justice and education. In recent times he has not been shy about getting his cheque book out and supporting worthy causes including £5 million to Anglia Ruskin University, £1 million to complete the Bomber Command War Memorial in London and £1 million for the refurbishment of the First World War Galleries at the Imperial Museum in London.
Lord Ashcroft, reported to be worth approximately £1.2 billion is extremely private about his wealth and does not, as he has stated, believe in inherited wealth and has prepared a will that will eventually see some 80% being distributed to charitable foundations or causes that he feels are of a National interest.
I know that are many people who snub or berate those with vast wealth but this level of wealth is rarely inherited. In fact when you look at the list of wealthy individuals who have pledged their fortunes almost all of them started with nothing and through hard work and dogged determination built successful businesses that now allows them to give so much to so many in need.
It is without doubt a remarkable trait and people should not despise people like Lord Ashcroft for his wealth but rather look up to him and see if they can find a way to achieve such heights and hopefully pledge their wealth to good causes that will inevitably help so many.
While I still remain a minnow in the pond of business I for one would have no hesitation in pledging any wealth that I might accumulate – it is for me the decent and humanitarian thing to do.