There are billionaires all over the world who spend their time looking for ways to increase their wealth and become richer.
They show off their wealth on social media and make outrageous and costly purchases that can feed a small country.
And then there are billionaires who donate millions of dollars to various non-profits on a weekly basis to make sure they continue to change and improve people’s lives.
It’s what billionaire couple Rob and Karen Hale have been doing without fail for the past 52 weeks. In fact, they’ve been philanthropists for a long time. Recently, however, the couple has been focusing on smaller charities.
Rob is the cofounder, president and co-owner at Granite Telecommunications. According to Forbes’ estimates, he’s now worth about $5 billion.
Rob and Karen feel truly blessed and lucky, having more money than their profits at Granite Telecommunications (and the Boston Celtics).
This is why they’re all for extending their blessings and good tidings to their community, which can benefit significantly from their financial contributions and donations.
As of September 29, the couple had donated $28.5million to 29 non-profit organisations, some of which are involved with cancer and environment programs.
The Hales also donated to organizations that deal with Dominican Republic shelter problems and initiatives that aim at providing greater access for Boston youth who want service missions.
The billionaire couple is aware that many small organizations with great causes or projects lack funding and financial support.
Rob and Karen give money to charities in order to ensure these organizations’ sustainability. Non-profits are able to generate an annual income stream, from which they can make a certain percentage.
Many of these charitable endowments and million-dollar donations support non-profits such as South Short Stars which provides quality early education and youth programs for the south Boston community, and the Joe Andruzzi Foundation which assists cancer patients.
These donations are not the only ones made by the Hales. They also gave millions of dollars to many hospitals and institutions in Boston, including Domestic Violence Ended. The funding directly benefited survivors and victims, and could even have built a new building.
These one million dollars donations were also made to the Ron Burton Training Village, run by Paul and Steve Burton of WBZ TV.
Many of these non-profits have annual revenues below $5 million. They were also among the most severely affected by the pandemic.
It was difficult for non-profits to hire staff or hold fundraising events online.
With the Hales’ charitable endowments, their one million dollars can grow over time if non-profits will invest in them. They can be more secure and not worry about where the money will come from. Instead, they can focus on the important work.
The Hales are happy to make these generous donations. For them, their greatest gift is knowing that they’re helping people who will help other people.
And the great thing about this is that the Hales aren’t the only ones sharing their wealth.
As the world’s billionaires grow their wealth, they’re also finding ways to give away some of their excess riches. These billionaires and business tycoons like Rob Hale and Warren Buffett are using their resources and money to reduce the wealth gap.
Rob and Kate Hale have generously donated their financial support to ensure that these organizations thrive and provide financial stability for them in these uncertain times.