While it isn’t everything, money can certainly get a person on their feet. When Kate McClure raised $227,000 for a homeless veteran, income inequality became more evident than ever. Now approaching it head-on, Cards Against Humanity gave $1,000 to 100 people in need.
“Giving 100 people $1,000 doesn’t fix wealth inequality,” the game’s website reads. “But we think these stories are a clear demonstration of how much $1,000 means to someone struggling to pay for basic necessities.”
The experiment called for 150,000 netizens to sign up, redistributing funds to the less economically fortunate. Testimonials claimed the money would go to anything from Christmas gifts to paying off student loans.
Most Americans can’t come up with $400 in an emergency, and one in five American households have zero or negative wealth,” Cards Against Humanity explains on its website.
To some, $1,000 may be just another paycheck. To others, it might mean the world.
You can always count on Warren Buffett’s charity auctions to generate hefty donations for the homeless. He most recently raised $2.6 million for the Glide Foundation. Undefeated in the philanthropic race is Bill Gates, who just donated $4.6 billion of a Microsoft stake to charity.
The world’s richest man donated 64 million of the Redmond, Washington-based company’s shares.
The donation, Gates’ biggest in 17 years, represents 5 percent of the billionaire philanthropist’s fortune. It also reduces his stake in Microsoft, the company he co-founded, to 1.3 percent.
While the lucky donee remains unnamed, netizens suspect the shares went to Gates’ own foundation.
The charity, set up by Gates and his wife to enhance healthcare and reduce extreme poverty across the world, as well as improve educational opportunities and access to information technology in the U.S., has been the main beneficiary of prior donations from the business magnate.
Despite his extreme generosity, Gates is still the world’s richest man. He and wife Melinda aim to donate 95% of their wealth by the time of their passing. Now that’s something.
You can always count on the occasional “J.K. Rowling Once Again Donates Half Her Fortune To Charity” to restore your faith in humanity. In fact, much of UNICEF and Red Cross’ funding comes from the likes of celebrities such as Taylor Swift. However, shelling over a sizable check doesn’t always equate to positive impact. Charities such as the Giving Pledge encourage millionaires to be more involved in giving back.
People with money to donate must choose carefully if they want their giving to be cost-effective.
Joining the Giving Pledge does not require an individual to support any particular causes or organizations, but instead “encourages signatories to find their own unique ways to give that inspire them personally and benefit society.”
Because the rich and famous rely firstly on monetary donations, the Giving Pledge works to ensure cost-effectiveness. After all, celebrities don’t always have the time.
Those signing up to… an “Effective Giving Pledge” would publicly commit to giving away half their wealth to whichever organizations they believe would “most effectively use it to improve the lives of others, now and in the years to come.”
Just as the Giving Pledge has successfully inspired many of the wealthiest people to give bigger, an Effective Giving Pledge would help inspire them to give better.
Helping millions of people is good, but helping billions is much better.
It is not simply the responsibility of the 1% to donate, but to do so effectively and with a passion for change.