The co-founders of both Uber and Infosys have decided to join “The Giving Pledge” movement. The movement is an initiative undertaken by Warren Buffet and the Gates for encouraging the wealthy to donate half their wealth to charity.
The Giving Pledge was created in 2010 by Warren Buffet and Bill and Melinda Gates. The movement aims to encourage the world’s wealthiest people to donate half of their wealth to charitable causes.
The idea is to motivate the richest people in the world to “publically dedicate the majority of their wealth to philanthropy” while they’re still alive.
The latest additions to the group of altruistic millionaires are the co-founders of both Uber and Infosys. The co-founder of Uber, Garrett Camp, has a net worth of about $5.1 billion, while Nandan Nilekani, the co-founder of Infosys has a network of $1.7 billion.
Speaking of his decision in his personal blog, Camp states that a recent trip to Kenya had opened his mind to taking the plunge. He stated that after interacting with people who were surviving without access to basic resources like water and electricity, his eyes had finally opened.
Camp also stated that he would now involve himself with projects “where (a) hands-on systems design can create more efficient solutions, and help people who need it most”. Camp’s donation will be made via a new foundation he has created titled Camp.org.
The foundation is aimed at conducting philanthropic research and projects, which will help solve issues plaguing the world.
The Nilekanis, on the other hand, announced their decision via a letter on The Giving Pledge website. In the letter, they stated that “inequality” was rapidly increasing in a number of countries.
They spoke of how the “young and restless” were lost, “wanting more, anticipating less”. They also asked the all-important question of what “the super wealthy” were doing to rectify the situation.
In the past, the Nilenkanis philanthropic pursuits have been made through the Ek-Step foundation. They have concentrated their efforts on education as a sector.
However, they have now promised to be supportive to more “societal platforms”. This will include more investment in areas such as software development, where new approaches can be used to change people’s lives.