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Billionaires Make a Large Contribution to the World of Education

For the world of education, the billionaire again made a surprise by making a large contribution. The largest single donation was given to Oxford University in England. This contribution aims to build an institution that will study the ethics of artificial intelligence.

United States billionaire (US) Stephen Schwarzman has donated £ 150 million to the university.

“This is a big investment globally in the UK,” said a statement the British government welcomed the large donations reported by the BBC.

While many universities face uncertainty in research funding because of Brexit, this contribution is a big support for Oxford University.

Schwarzman is the chief executive officer (CEO) of the private equity firm Blackstone and one of the famous US billionaires

Schwarzman is the chief executive officer (CEO) of the private equity firm Blackstone and one of the famous US billionaires. Previously, his lavish lifestyle sparked criticism, but recently he has also become one of the major donors to education. Schwarzman explained to the BBC that he gave money to Oxford because artificial intelligence was a major issue in this century.

“At the moment, most governments are not prepared to face this, and that is why this will be a different type of technology,” he said. “They will depend on large universities such as Oxford and others around the world who specifically help them think about this,” he said.

Schwarzman said universities need to help shape an ethical framework for change that happens very quickly.

Some economists warn that the development of artificial intelligence can have a huge impact on society, including the loss of employment due to automation or sometimes called the fourth industrial revolution. Academics also raised concerns about the potential for crime in cyberwar and subverted democracy.

The donation by Schwarzman to Oxford after he donated USD350 million to the Massachusetts Institute of Technology (MIT) to build a center of computing and artificial intelligence. The study of artificial intelligence ethics at Oxford will be the center of the new humanities, bringing a variety of subjects from language to philosophy.

“It’s important for people to remember what it is to be human. Why are we here? What are your values? How technology relates and interacts with it, “he said. “We must make it positive and productive for society, and technology must not be allowed only to do what it wants because it can,” he said.

The donation to Oxford was a few months after billionaire David Harding donated £ 100 million to the University of Cambridge. Also, the richest man in Hong Kong, Li Ka-Shing, promised to pay tuition fees for Chinese university students through his charitable foundation.

Li Ka-Shing Foundation has paid tuition for four to five years for students at Shantou University, Guangdong Province - China

Since the new teachings of 2019, the Li Ka-Shing Foundation has paid tuition for four to five years for students at Shantou University, Guangdong Province – China. This move made Li pay $ 14.4 million per year.

“The Foundation hopes this program can help ease the financial burdens of many families and encourage students, and they can learn better to prepare for graduation to face increasingly complex challenges in the global economy,” the foundation’s statement said.

Li, 90, according to Forbes magazine, has a fortune of USD30.4 billion. The story of Li’s life journey is also full of struggles since he began working as a factory floor sweeper when he was young until he entered the ranks of the 28th richest person in the world on the Forbes list in 2019.

He retired from his business empire last year and gave authority to his eldest son, Victor Li. The CK Hutchison Holdings and CK Asset Holdings Li family businesses are involved in various sectors ranging from retail, telecommunications, to electricity. Li became one of the first Hong Kong entrepreneurs to invest in mainland China. The property industry is one of the major contributors to his wealth. The Chinese billionaire received a knighthood from Britain in 2000.

He also earned the nickname “Superman” for the success of his business and investment. Li’s generosity came after the move by US philanthropist Robert F Smith.

Last month, billionaire Robert F Smith made a similar move by paying tuition fees for US universities. Smith shocked graduate graduates in Atlanta, Georgia, when he told them he would pay off the entire college tuition debt. Nearly 400 scholars benefited from the USD40 million pledge.

6 Generous Figure Who Donates Wealth to Donations

Being rich and successful is the desire of many people. Feeling the sweetness of life with a wealth of wealth and fame is certainly happy.

If you had become a billionaire with abundant wealth, what would you do? How to use the assets for personal use and invest them in increasing? Or will donate most of your assets to safe activities and people?

If you do the third, it means you are included in the group of generous and generous people commonly known philanthropists. Bear the title as a billionaire in the world did not make them happy to squander their property. The billionaire prefers to donate his wealth to donations. Who are they, following his review:

Bill and Melinda Gates

Bill and Melinda Gates

Microsoft founder Bill Gates and his wife have donated up to US $ 27 billion. Bill Gates uses his foundation to fund initiatives and programs throughout the world to support agricultural development, emergency assistance, urban poverty, global health, and education.

Based on Wealth-X data, Bill and Melinda Gates have given more funds to charity than anyone else in the world. The couple also focuses on the world of health by providing care, such as vaccinations. The foundation also provides vaccinations for diseases such as polio and tuberculosis.

Mark Zuckerberg and Pricilla

Mark Zuckerberg and Pricilla

The couple is struggling to improve school and fight Ebola. This Facebook founder, one of the first people to join the Giving Pledge in 2010. Until now, the couple has donated a charity fund of around US $ 1.

In 2014, he and his wife gave US $ 25 million to the CDC Foundation to fight Ebola and even encouraged Facebook followers to do the same. The couple also gave US $ 75 million to the Silicon Valley Community Foundation. These funds are for building a San Francisco public hospital. They have given more than US $ 100 million to schools in New Jersey.

Sara Blakely

Sara Blakely

She has made his life’s work to help women. The founder of Spanx joins the “Giving Pledge” or pledge of giving to make the world a better place, especially for women. Her business began with the Leg-UP program, which provides opportunities for other women entrepreneurs to offer their product features for free in the Spanx catalog.

Blakely has also helped women finance a college education, and entrepreneurship programs funded for women’s schools and donated about US $ 1 million to Oprah Winfrey’s women’s school in South Africa.

Paul Allen

Paul Allen

Paul Allen has given US $ 2 billion. The funding is for scientific research through the Allen Institute for Brain Science. Co-founder of Microsoft Paul Allen joined “Giving Pledge” in 2010.

For the most part, Allen focused on philanthropic efforts in the Pacific Northwest, where he lived and worked. The Allen Institute for Brain Science studies the genetic causes of brain disease and brain disorders. Not only that, but this institute also studies brain function and damage. Based on the Wealth-X company, Paul has donated US $ 2 billion to charity, including a donation of US $ 100 million to combat the Ebola virus outbreak in West Africa.

Warren Buffett

Warren Buffett

One of the billionaires promised to give more than 99 percent of his wealth and has donated more than US $ 21.5 billion. CEO of Berkshire Hathaway, this is no stranger to philanthropy, he has founded “Giving Pledge” with Bill and Melinda Gates. He even promised to give up his wealth of about 99 percent to charity for the rest of his life.

Based on Wealth-X, he already gave up around US $ 21.5 billion. “About 20 percent of my shares in Berkshire Hathaway have been distributed to various charitable activities,” Buffett said. This year’s bonus was given up to US $ 2.8 billion in the second year in a row. He will continue to distribute other shares of 4 percent per year.

Azim Premji

Azim Premji

Azim Premji provides funds for teacher training and computer programs. This method is to reform public schools in India. The chairman of Indian Consulting and the technology company Wipro is working to reform the Indian public education system through the Azim Premji Foundation. According to Wealth-x, he has provided US $ 8 billion in charity funds.

He joined Giving Pledge in 2013. Previously he donated 8.7 percent of his Wipronya shares, or around US $ 2 billion to establish his foundation.

With a large amount of donations and donations, these billionaires can be considered human heroes. Without having to be a billionaire, you can be a philanthropist and a hero to others.

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