Billionaires cannot ignore duty to give as crises escalate

FORBES unveiled its annual Billionaires List this week and the numbers are staggering: a record 3,028 billionaires now hold a combined wealth of more than $16trillion. The top 15 boast personal fortunes of more than $100billion. Elon Musk sits at the top, worth $342billion. Yet these figures arrive at a moment when the world is grappling with mounting crises climate change, economic inequality, refugee emergencies and failing healthcare systems, to name a few. Against this backdrop, I ask my fellow billionaires: What are you waiting for?

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Being on the Forbes list is more than a measure of success, it's a profound privilege. My wealth has afforded me opportunities beyond imagination. But with great wealth comes great responsibility one that too few of us are embracing. That's why I've pledged to give away at least 70% of my wealth to charitable causes. I'm not saying that to boast, but because I believe it's the right thing to do and because I want others to do the same.

I signed the Giving Pledge because I believe individual wealth, when used wisely, can be one of the most effective forces for good on the planet. It can improve innumerable lives and affect change in places that nation states, non-governmental organisations and corporations can only dream of.

If 50% of the world's 3,000 richest people pledged to give away half their fortunes, we could unlock more than $4trillion more than enough to transform education systems, eradicate preventable diseases and lift countless individuals out of poverty.