Pickens, Kaiser Pledge To Give Much Of Their Wealth To Charity

Wednesday, August 4th 2010, 3:08 pm
By: News On 6


TULSA, OK -- Two of Oklahoma's wealthiest individuals have committed to giving much of their wealth to charitable causes by taking the Giving Pledge.

George B. Kaiser  and T. Boone Pickens were among 40 individuals and families to make the commitment Wednesday.

Investor and philanthropist Warren Buffett made the announcement Wednesday six weeks after kicking off the long-term charitable project with Bill and Melinda Gates.

Kaiser says he has a moral obligation to make the pledge.

"I had the advantage of both genetics (winning the "ovarian lottery") and upbringing. As I looked around at those who did not have these advantages, it became clear to me that I had a moral obligation to direct my resources to help right that balance," said George B. Kaiser.

Kaiser is the chairman of BOK Financial Corporation.

T. Boone Pickens has also committed to the Pledge. The Oklahoma oil man said he enjoys making money and enjoys giving it away.

"To date, I've given away nearly $800 million to a wide-range of charitable organizations, and I look forward to the day I hit the $1 billion mark," he said. "I'm not a big fan of inherited wealth. It generally does more harm than good.

"I want to thank my friends Bill and Warren for their leadership – I am pleased to join them."

Launched in June 2010, the Giving Pledge is an effort to invite the wealthiest individuals and families in America to commit to giving the majority of their wealth to philanthropy.

More information is available online at givingpledge.org.