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Sunday, November 3, 2013
Billionaires Promise to Give It All Away
Investor Bill Gross, who has been locked in a Twitter battle with fellow billionaire Carl Icahn over
philanthropy, said Wednesday that he and his wife are committed to giving away their entire fortune before they die, Bloomberg writes.
Mr. Gross, a fund manager for Pacific Investment Management Co., or Pimco, told CNBC he is following the example of steel magnate and philanthropist Andrew Carnegie, who wrote in 1889 that it was a disgrace for a wealthy person to die with money.
Earlier this week Mr. Icahn called on Mr. Gross in a tweet to join him in signing the Giving Pledge, Bill Gates and Warren Buffett’s campaign urging billionaires to commit half their fortunes to charity. Mr. Gross had previously criticized Mr. Icahn’s push for Apple to buy back stock, tweeting that Mr. Icahn should emulate Bill and Melinda Gates and devote more time to philanthropy instead.