The Power of Philanthropy

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engagement-team (Free Agent) Posted 13 days ago

Our belief at FREEAG8 is that once successful, there is an obligation to give back to those who helped in your success. Whether those include your employees, your community, non-profit organizations, or to those less fortunate. You don't become a millionaire or billionaire in a bubble. Here are two examples of those who really understand the Power of Philanthropy. One example is from sports and one is from business.

According to Forbes, LeBron James's net worth was $300 million in 2018. Despite his several geographic moves for the NBA, LeBron has given back to those communities he was a part of including several of the examples below.

1) After-School All-Stars - LeBron's foundation has raised over $40 million for this program in his hometown of Akron, Ohio. The goal of this program is to keep kids in school and encourage them to graduate.

2) Boys and Girls Club of America - LeBron James designated $2.5 million of the proceeds from ESPN's special "The Decision" to the Boys and Girls Club of America. While in Miami, Lebron was very active in the program locally. Lebron and his wife also donated 1000 new computers to 59 Boys and Girls Club across America.

According to Forbes, Bill Gates's (co-founder of Microsoft) net worth was $90 billion in 2018. His philanthropy is completed through The Bill and Melinda Gates Foundation. The foundation invests in health care, education, and the fight against poverty globally. A couple of examples of their foundation at work include:

1) In 2017, The Bill and Melinda Gates Foundation gifted a $279 million grant to continue and expand pioneering programs that measure health globally to the University of Washington. This is just part of the $1.25 billion given to the UW's various health programs over the last two decades.

2) In 2018, it was announced that The Bill and Melinda Gates Foundation will spend $158 million during the next four years for a new initiative to help poor Americans move up the economic ladder. According to Gates Foundation CEO Sue Desmond, "This is about the American Dream and about making the American Dream real for more people."

Lebron James and Bill Gates is a small sampling of what can happen when wealth is used for philanthropy and the common good. They are paying it forward and using the Power of Philanthropy. Let us know how you give back no matter how small or big. The bottom line in philanthropy is making a difference.


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