Pursuits
Broad, Bloomberg Back Buffett Call for Charitable Donations
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Eli Broad and New York City Mayor Michael Bloomberg backed an initiative started by fellow billionaires Warren Buffett and Bill and Melinda Gates for rich Americans to give at least half of their wealth to charity.
Broad, former chairman of insurer SunAmerica Inc. and founder of homebuilder KB Home, joined his wife, Edythe, yesterday in pledging to give 75 percent of their wealth to philanthropic causes. Buffett, the world’s third-richest person and chairman of Berkshire Hathaway Inc., said he is pressing “hundreds of rich Americans” to make similar pledges.