- Billions are given to charity each year, with some of the biggest donations coming both from large companies and from some of the wealthiest people in the world.
- Compare the Market, a price comparison website in the UK, has found which billionaires have donated the largest percentages of their wealth to charity.
- Here are the most charitable billionaires in the tech industry, according to the percentage of their net worths they've given away.
Philanthropy has become an important initiative for some of the richest people in the world.
In recent years, there's been an emergence of charitable donations coming out of Silicon Valley. Looking at the Chronicle of Philanthropy's top 50 philanthropists list for 2017, 60% of the people on the list are from the technology industry.
A recent analysis from UK price comparison website Compare the Market found which billionaires have donated the largest percentage of their net worths. There's only one billionaire who currently donates more than half of his wealth to charity: businessman Warren Buffett, the third richest man in the world.
These figures are based on publicly available information, so any private donations are not included in the calculated numbers. The billionaires' net worths are based on Forbes' 2018 list of the wealthiest people in the world.
Here are the 13 most charitable billionaires in tech, based on percentage of their wealth they donate:
13. Steve Ballmer — 0.32%
2018 net worth: $38.4 billion
Amount donated: $121 million
How he made his billions: Ballmer is a former CEO at Microsoft who joined the company early on as its 30th employee.
Donations made: Ballmer and his wife run the Ballmer Group, a charity that focuses on "efforts to improve economic mobility for children and families in the United States who are disproportionately likely to remain in poverty." The Ballmers' foundation has pledged millions to Harvard University, the University of Washington, and the University of Oregon.
12. Jack Ma — 0.33%
2018 net worth: $39 billion
Amount donated: $129.4 million
How he made his billions: Ma is the cofounder and executive chairman of Alibaba Group, one of the largest e-commerce companies in the world. With Ma at the helm, Alibaba had one of the biggest IPOs ever when it went public in 2014. Ma and Alibaba have invested billions in tech companies.
Donations made: When Ma announced he would be retiring from his role as Alibaba's executive chairman, he said it was so he could dedicate more time and money to his philanthropy, the Jack Ma Foundation. The charity was founded in 2014 and focuses its efforts on improving China's education system, especially in rural areas. The company pledged $45 million in 2017 to "help discover and cultivate future teaching talent in the rural regions of China."
11. Masayoshi Son — 0.53%
2018 net worth: $22.7 billion
Amount donated: $120 million
How he made his billions: Son is the founder and CEO of SoftBank, a huge Japanese investment firm that's put billions into tech startups like the We Company, Slack, and Uber.
Donations made: Son pledged about $120 million to support the victims of the 2011 Japanese earthquake and tsunami that resulted in more than 15,000 deaths. SoftBank donated an additional $12.5 million, and Son pledged to donate his annual salary to the victims until he retires. Son is also the founder and president of the Masason Foundation, which works to "support those who will create the future."
See the rest of the story at Business Insider
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