Editorial: Only $7bn to keep the wolf from the door

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The Independent Online

Even the most cynical will surely struggle to criticise the latest clutch of the super-rich who have committed to give away at least half of their fortunes. The Giving Pledge – which was set up by Bill Gates and Warren Buffett three years ago – already has 93 members from the US. Now 12 multi-billionaires from elsewhere in the world have joined the ranks of the über-philanthropists. Well done to them.

Among the newcomers are British businessman Sir Richard Branson, Indian software magnate Azim Premji and Russian mining mogul Vladimir Potanin. Each has his own take on the promise. Mr Branson's focus is on helping social enterprises address problems such as conflict resolution. Mr Potanin wants to protect his children from the burden of the extreme wealth. What the kids think on the matter is not recorded. But at least they will have the remaining $7bn-plus to keep the wolf from the door.