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Rich People Giving Away Money - Why They Do It

 

There are many rich people giving away money out there, but why are they doing it?  Many billionaires, millionaires, athletes, and famous celebrities help out those in need.  While the reasons will vary greatly by the individual, there are some very basic reasons they are willing to assist the poor or needy.  Here are just a few of the reasons rich people are giving away money free of charge, to those that may need some help to get by.  Let's look at why millionaires who give cash to help others do it.

Generosity

Some rich people giving away money do so out of simple and pure kindness and generosity.   Since many wealthy individuals came from humble backgrounds, they are able to appreciate and remember where they came from and how it was to be poor or in need.  If you are looking for financial help from millionaires, they may be willing to help you out of pure kindness.  Some just say, I want to give my money away to help others.

Tax Benefits

While a list of rich people giving away money will include many simply do so out of kindness, some will be doing so for a tax write-off.  While some may think this spoils the moment to some extent, it is still an important way for charities to get funding.  Even though it may not be nearly as thoughtful, it is still a good thing for those that need the financial help.

Publicity

Many famous rich people giving away money are doing it for simple publicity.  Again, this may not be what we want to hear, but it is a simple fact.  Since many charitable situations could gain publicity, it may benefit the giver, and not just the receiver of the funds.  This is again okay, at least for the most part, since the funds are stilling helping out someone or some organization in need of the assistance.

Promotions

In some cases, rich people giving away money are doing so as a promotion for movie projects they are working on, or for other events that need publicity.  This can be a very good thing, especially if they are doing so to promote a charitable organization or worthy cause.  Since the end result is often very positive for the receiver, it should probably not be viewed as less important than the other reasons.

Things to Consider

Just because the famous and wealthy hand out financial assistance to help out others does not mean it should be diminished.  This type of thing has been going on for years – it is not new.  Since the end results are the same, with the poor or needy getting help, it should still be viewed as positive.  When rich people giving away money free stop, we all lose.

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1 comment

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Written by careercounselor, 2 years ago
This brings to mind Warren Buffet and how much money he has given away to the Bill Gates Foundation, it is amazing how some wealthy individuals really do try and make a positive change.

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