Though their ethics may not have been clear, some still saw it as their duty to help those below them. Philanthropies Bill Gates’ Bill and Melinda Gates Foundation has an endowment of $33 billion, the wealthiest charity in the world. Warren E. Buffett donated $31 billion to the Bill and Melinda Gates Foundation, the largest single donation in U.S. history. Andrew Carnegie spent his later years focused on improving education and world peace. He gave over $350 million to build public libraries, schools, churches, and hospitals. John D. Rockefeller donated more than $500 million to philanthropic endeavors during his lifetime. Furnish 5 th period America’s Billionaires Nicole Francis $1,000,000,000
Transcript
Though their ethics may not have been clear, some still saw it as their duty to help those below them.
Philanthropies Bill Gates’ Bill and Melinda Gates Foundation has an endowment of $33 billion, the wealthiest charity in the world.
Warren E. Buffett donated $31 billion to the Bill and Melinda Gates Foundation, the largest single donation in U.S. history.
Andrew Carnegie spent his later years focused on improving education and world peace. He gave over $350 million to build public libraries, schools, churches, and hospitals.
John D. Rockefeller donated more than $500 million to philanthropic endeavors during his lifetime. Furnish 5th period
America’s Billionaires
Nicole Francis
$1,0
00,0
00,0
00
The “Average” Billionaire Exceptions
Time Frame Most billionaires lived between 19th century and early 20th century.
Industry
Most billionaires were heavy industry manufacturers.
Ethics
Bill Gates Gates is an exception for several reasons. He gained his wealth in the late 20th and early 21st century. Gates’ wealth is from technology. He was also ethical in his earnings.
Stephen Girard Girard is an exception because he made his wealth in the 18th century, long before any other American billionaire. Girard earned his money by trading with the British during the Revolutionary War. He later entered finance, another unusual field at the time.
Twain’s nickname of “The Gilded Age” adequately describes the period between 1870s to the turn of the century. A time when money ruled through political machines, bribery, and kickbacks, corruption was rampant through most corporate trusts and government sectors.
Most billionaires were unethical in their earnings as was the trend for the time period. They would pay their workers unfair wages, monopolize commerce absorbing competition.
William Weightman Weightman, though a part of the average time frame, made his wealth in pharmaceuticals, a light industry. He manufactured a cure to malaria. When South American stores grew scarce, Weightman engineered a powerful substitute.
Information from: http://www.nytimes.com/ref/business/20070715_GILDED_GRAPHIC.html
