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Great Givers

A Review Of Some Of Our Most Influential Philanthropists

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Imagine having so much wealth that you can build libraries, fund universities and fight infectious diseases.

Successful men and women around the world have generously donated to charities over the years to do these things and more, making their mark and improving communities and the well-being of others along the way.

Below are six philanthropists who have especially impacted the world of philanthropy. From taking a pledge to give their money away to buying organs for churches, they have dedicated their lives to making the world a better place.

ANDREW CARNEGIE

Known as the pioneer of modern philanthropy, Andrew Carnegie spent much of his life as one of the richest men in the world.

Born on Nov. 25, 1835, Carnegie and his family fled Scotland and settled in Pittsburgh, Pa., where they already had relatives living. As a teenager, Carnegie started working for the Pennsylvania railroad, where he held many different positions while working his way up to the superintendent of its western division. He eventually invested in a railroad sleeping car company, which began his journey into business. He later turned Carnegie Steel Corporation into the largest steel manufacturing company in the world. Carnegie’s business ventures made him a lot of money, something that led him to write “The Gospel of Wealth” in 1889. In this iconic essay Carnegie proposed the rich should use their money to help others instead of as a means to living extravagant lives.

In 1901, Carnegie’s business was bought by financier J.P. Morgan. That deal made Carnegie the richest man in the world at the time. If the deal would’ve been made today, Carnegie would’ve pocketed more than $309 billion.

In 1911, Carnegie established the Carnegie Corporation of New York, a foundation that, still today, uses its money to help charities worldwide.

He dedicated more than $55 million to establishing public libraries and also funded colleges, schools and nonprofit groups. But libraries held a special place in his heart because he credited a library in Pittsburgh for inspiring him to want to learn.

Though Carnegie died in 1919 at age 83, his legacy lives on through more than 26 organizations worldwide, including Carnegie Museums of Pittsburgh and the national landmark in New York City, Carnegie Hall.

JOHN DAVISON ROCKEFELLER SR.

John Davison Rockefeller Sr. was a high school dropout who became, not only one of the first billionaires in the world, but also a thriving philanthropist who donated hundreds of millions of dollars by the early 1900s.

Today, the Rockefeller name is synonymous with wealth and status, and it all started in 1870 when Rockefeller founded the Standard Oil Company in Ohio at the age of 31. It became the largest oil company in the world. Before that, Rockefeller worked as a bookkeeper, earning 50 cents a day. He took his paychecks and a loan from his father to purchase a commodities brokerage business and eventually found himself in the oil industry.

After some time, he also made a name for himself in the healthcare world.

Rockefeller is credited with helping rid the south of hookworm disease in the early 1900s, something that launched an ongoing public health campaign through the Rockefeller Foundation.

The foundation, which was created in 1913, was built on the belief that its finances will help improve the well-being of humanity throughout the world. More than 100 years later, the foundation is still working hard to make positive changes.

It’s been said that when Rockefeller was a young man, his dream was to make $100,000 and live to be 100 years old. He was three years shy of his goal, having died in 1937 at age 97, after donating more than half a billion dollars to causes and educational institutions around the world.

BILL GATES AND MELINDA FRENCH GATES

They were once known as the power couple of the global philanthropy world until announcing in 2021 that their 27-year marriage was ending.

The Bill and Melinda Gates Foundation spends billions of dollars annually on countless causes worldwide — from fighting poverty and hunger, to providing vaccines and proper medical care. For over 23 years, the foundation has donated more than $53.8 billion and is the largest private donor to the World Health Organization.

Though Bill Gates, 68, is known by most for serving as co-founder of technology giant Microsoft, he began to focus more on philanthropy in 2008, as did his former wife, who now prefers to be called Melinda French Gates. French Gates, who is 59 and a graduate of Duke University, developed multimedia products at Microsoft before focusing on charity work. Though they are now divorced, the couple continues to successfully run the foundation together.

French Gates is steadfast in her dedication to uplifting and empowering women as she supports and fights for gender equality. She also champions for women to have more roles in public office.

Today, French Gates is considered to be one of the wealthiest women in the world with an estimated worth of $11 billion.

GEORGE PEABODY

Born one of eight children in Massachusetts in 1795, George Peabody didn’t have proper schooling, nor did he come from money. And yet, he became known as the first international philanthropist.

Peabody left school at age 11 so he could work and earn money for his family. As a young adult, he served in the U.S. Army and then helped operate a successful dry goods firm. He eventually found himself in the banking industry in London focusing on foreign exchange and securities.

Peabody became a very wealthy man, using his money to help fund libraries and higher education institutions in the United States, including a natural history museum at Yale University and a museum of archaeology at Harvard University.

In the United Kingdom, he established the largest housing association in the United Kingdom, called The Peabody Trust.

In 1867, Peabody received the Congressional Gold Medal for charitable work.

Some historians believe that Peabody was Charles Dickens’ inspiration for “A Christmas Carol” because Peabody was wealthy, never married and was known to pinch his pennies.

WARREN BUFFETT

Warren Buffett is determined to give most of his money away.

At the age of 93, he has donated an estimated $55 billion, which is why, this year, Forbes magazine listed Buffett as America’s most generous philanthropist.

Buffett oversees Berkshire Hathaway in Omaha, Neb., a multibillion-dollar holding company that owns numerous successful businesses, including Geico and DQ (Dairy Queen).

In 2010, Buffett and Bill Gates created The Giving Pledge, a charity campaign to encourage wealthy people to act philanthropically.

Those who promise to follow it have committed at least half of their money to charity. More than 240 people have followed in Buffett’s footsteps.

One of the most successful investors of all time, Buffett is also known as the Oracle of Omaha because of his incredibly successful investments over the years. While most children were focusing on school and playtime at age 11, Buffett had purchased his first stock and, two years later, he filed taxes for the first time. In high school, he and a friend bought a pinball machine for a barbershop and eventually added two more. They sold the business for $1,200.

Buffett credits his fascination with finance to his father Howard, who ran a small brokerage house. As a teen, he vowed to become a self-made millionaire. Today, Buffett is known as one of the most successful, well-known investors in the world, having a net worth of $116 billion.

He was 74 years old when he died in 1869.

CHUCK FEENEY

Chuck Feeney was uncomfortable with money.

The funny thing is, he had a lot of it.

He and a friend founded Duty Free Shoppers (originally called Tourists International) in 1960 and it made them billionaires. Feeney, who passed away last month at the age of 92, had always looked up to his mother, who was an advocate for helping others. And he also said he was influenced by Andrew Carnegie’s essay about wealth.

So, Feeney had an idea — to start a foundation whose money would go solely to charities. In 1982, he created The Atlantic Philanthropies foundation. Feeney was the one to supply the cash, though hardly anyone knew it.

And in 16 years, he gave away $600 million anonymously.

Feeney lived in San Francisco. He always flew economy, took the subway and was content knowing that he reached his goal of giving away most of his fortune, an estimated $8 billion. Nearly $1 billion of it was invested into Cornell University in Ithaca, N.Y. alone.