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Thursday, May 31, 2018

Two More Billionaire Fundsters Make a Pledge

News summary by MFWire's editors

Two billionaire fundsters just joined a high profile promise, started by none other than Warren Buffett and Bill Gates, that already includes two other famous fundsters, a late fundster, and many other philanthropists from around the globe.

Yesterday Buffett confirmed that David Booth (co-founder and executive chairman of DFA [profile]), Mario and Regina Gabelli (Mario is the founder, chairman, and CEO of Gamco [profile]) and a dozen other signatories have joined the Giving Pledge. The pledge, started in 2010, "is a commitment by the world's wealthiest individuals and families to dedicate the majority of their wealth to giving back."

Barron's and Forbes picked up on the pledge's 2018 recruits.

Austin-based Booth, worth an estimated $1.57 billion, has been famously supportive of his alma maters, Kansas University and the University of Chicago.

Rye, New York-based Mario Gabelli, worth an estimated $1.7 billion, has made big donations to New York City's Columbia University and Fordham University. In his note about the Giving Pledge, he says that his family foundation's "main focus is on education."

Other fundster couples who made the pledge in previous years include: Mellody Hobson and George Lucas, Joe and Rika Mansueto, and the late Jim and Virginia Stowers

Edited by: Neil Anderson, Managing Editor


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