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Wednesday, 15 July 2009

Rich still giving (bless em)

Banknotes from all around the World donated by...Image via Wikipedia

On the day that saw Goldman Sach reported bumper earnings despite the recession another story caught my eye and warmed my heart.

THE global recession has failed to dampen philanthropic spirit, with many rich people increasing their charitable giving, according to a new report from Barclays Wealth. Among the 500 British and American individuals with at least $1m of investable assets, only education was considered a more important expense than charitable commitments. Some 28% of Americans say they are giving less money compared with 18 months ago, though 26% are giving more. A similar pattern is seen among those givers from both countries who inherited their fortune. But entrepreneurs are more likely to give their cash away—31% say they have increased their giving and only 17% have reduced it.

(Source: The Economist )

Lets hope some of the GS record bonuses will make its way to charitable causes

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