Branson pledges to give away half his worth

City A.M. Reporter
SIR Richard Branson yesterday pledged to give away half his fortune to good causes.

The British entrepreneur and his wife Joan were one of 12 new signatories to Bill and Melinda Gates’ Giving Pledge Initiative. They join a list that includes Mark Zuckerberg, David Rockefeller and Warren Buffett. Yesterday saw the first billionaires from outside the US pledge to donate the funds to philanthropic activities, with other signatories including Russian nickel mogul Vladimir Potanin and Indian software tycoon Azim Premji.

Sir Richard has an estimated fortune of £2.7bn. In a letter to the Giving Pledge Initiative,

which now counts donations of around $500bn (£324m), Sir Richard said: “‘Stuff’ really is not what brings happiness. Family, friends, good health and the satisfaction that comes from making a positive difference are what really matters.

“Happily our children, who will be our principal heirs, agree with me on this.”