CSR: Branson Joins the $500 billion Philanthropy Club

Students of corporate social responsibility will come across the concept of philanthropy as a powerful example of businesses and entrepreneurs "doing good" for society.Perhaps the most significant recent example of philanthropy is the Giving Pledge, which was an initiative launched by Microsoft founder Bill Gates and his wife Melinda.The Giving Pledge is a commitment by the world's wealthiest individuals and families to dedicate the majority of their wealth to philanthropy. Contributors already include Mark Zuckerberg (Facebook), Larry Ellison (Oracle), Warren Buffett (Berkshire Hathaway) And now Sir Richard Branson has joined the club, stating his intention to donate half of his fortune to environmental causes based around the social enterprise model.

Some interesting supporting comments from Sir Richard and his family as they make the pledge:

“As and when we take monies out of the Virgin Group of companies the majority of it will be invested in entrepreneurial approaches to help make a difference in the world.

“We want the value created by the Virgin Group to be used to invest in new collaborative approaches to addressing issues, where business, governments and not-for-profits join forces to create a healthy, equitable and peaceful world for future generations to enjoy.

“We started by trying to give a voice to the young people of the 1960s and hope our “Giving Pledge’ will help many generations to come.

“We look forward to working with Bill Gates and Warren Buffett in expanding the number of people who are part of this pledge outside America.”