Paulson plans to donate £410m fortune to environmental causes
Tuesday 16 January 2007
Henry Paulson, the US Treasury Secretary and former head of Goldman Sachs, is believed to be planning to give away the bulk of his fortune to charity - up to $800m (£410m).
The move would see him follow in the footsteps of a string of wealthy businessmen, including Microsoft's founder Bill Gates and investment guru Warren Buffett, who have all announced plans to donate the vast proportion of their wealth to good causes over the past year.
Mr Paulson, who is a Christian Scientist, first set himself up to join the ranks of the world's most generous philanthropists last year, when he donated $100m of Goldman Sachs stock to an environmental charity.
But he is now believed to be making plans to donate the rest of his fortune over the coming years, according to a report in the UK's Financial News. Last year saw a record $35bn of philanthropic donations from the US's most wealthy. Mr Buffett pledged to donate 85 per cent of his Berkshire Hathaway stock - currently worth some $40bn - to good causes.
Mr Paulson's move comes only a few months after Sandy Weill, a former head of one of Goldman's largest rivals Citigroup, also pledged to donate his $1.4bn fortune to charity, claiming it was a "deal with God".
Mr Paulson, who stepped down from his job at Goldman last summer, has been a long-term supporter of environmental causes, setting up his own charity more than 20 years ago.
Missing Malaysia Airlines Flight MH370: Wreckage could be found within a week as search reaches 'very critical juncture', says minister
Loch Ness Monster found on Apple Maps?
Royal Tour 2014: Is the Duchess of Cambridge the only person ever to climb into a fighter jet wearing a dress and high heels?
Kim Jong-un, crowds and contraband: Inside North Korea with the Pyongyang marathon winner
Cover up! Mother told to show less cleavage during Disneyland family trip: 'Are we supposed to wear turtlenecks our whole lives?'
The food poverty scandal that shames Britain: Nearly 1m people rely on handouts to eat – and benefit reforms may be to blame
Scottish independence: It is the English who should be on their knees, begging the Scots to vote ‘No’
Nigel Farage fatigue? Half of voters ‘immune’ to Ukip’s appeal
'Sinful': Video of British Muslims dancing to Pharrell Williams's hit Happy comes under attack
Nigel Farage: I’m taking on the status quo, and the Establishment’s fighting back
Refugee facing deportation from Sweden saved by fellow passengers refusing to let plane leave
- 1 'Natural' energy drink banned for containing erectile dysfunction drug
- 2 A bottle of wine a day is not bad for you and abstaining is worse than drinking, scientist claims
- 3 Dylan Tombides: West Ham confirm 20-year-old striker has died after battle with cancer
- 4 Loch Ness Monster found on Apple Maps?
- 5 Angus Steakhouse: How does tourist staple continue to thrive in today's gourmet market?
iJobs Money & Business
£150.00 per week: QA Apprenticeships: This company has been providing on site ...
£221.25 per week: QA Apprenticeships: This company is a well established Inter...
£40000 - £50000 per annum: Harrington Starr: Client Relationship Manager - SQL...
£35000 - £50000 per annum: Pro-Recruitment Group: Take your chance to join the...