Why Do Millionaires Focus On Their Money But Not On Charity?

Answer 1

That is certianly not true of all millionaires.

Answer 2

Hello? The richest man in the world, Bill Gates, has given over a third of his fortune to charity. The second richest, Warren Buffet, just gave 37 billion to charity.

Of course there are all kinds of people out there, and some rich folks are not very giving. But most are.

At the link below, you will find a study done by the Boston College Research Institute. It shows that people who are NOT millionaires give about 5% of their wealth to charity, while people worth $20 million or more give 40% to charity.

If your question is why don't they FOCUS (i.e. spend most of their time) on charity - if they did that, they wouldn't be millionaires!

Answer 3

It's that frugal mentallity that lead them to become millionaires in the first place.

Not all millionaires are the same though. A lot of millionaires donate money to charity. You can't generalize and throw everyone into a category.

Answer 4

You don't know many millionaires, do you? Most monied people are far more interested in their interests than in the stuff than earns interest.

I know a farmer that had a tune stuck in his head from way back in school that one day he called the local theater company and sponsored most of the costs of producing the opera. He looked so bored and out of place until the wailing "My heart is aching, it was your for the taking, ..." He came in and worked on sets and stuff until it was ready to go.

I had a boss that goes back home from time to time and he almost always finds a project to fix things up. He's replaced sidewalks, painted houses, had a new roof put on a medical clinic, and always kept the local food charity in staple items like rice and beans.

A family got burned out of their apartment because a neighbor was smoking in bed. This cadillac pulls up and a big real estate man, points down the street to a new hotel, and says "Come on, I'll get you a room for a few days."

Another person of means was visiting a friend in a hospital whose kid was there sick. He noticed the sad child in the next bed and a few minutes after he left there was a teddy bear for the kid and a note for the mother, the kid's bill was paid.

I know several doctors and dentists and lawyers who regularly pay their way to some food or medical clinic in some forgotten corner of the world. There those manicured fingers are washing sheets at a hospital, or dishing up food for people who haven't eaten in a week, or painting walls on a school.

It doesn't happen for everyone, but you'd be surprised what goes on out there. Look for yourself instead of grousing about the rich. They aren't all miserly Scrooges.

Answer 5

The two richest people in the world have given more money to charity then anyone in history. They beat another millionaire, Andrew Carnegie.

Answer 6

Who says they don't? Bill Gates and many others spend tons of cash on charities. They might not get the airtime Andrew Carnegie did though.

Id guess even wastels like the Hiltons give to some charities.

Answer 7

Says who? Warren Buffet just gave over 30 billion dollars to charity. How much did you give last year?

Answer 8

Actually, a lot of them have foundations and scholarships that they set up with their fortunes and many of them do donate money to charities. Your question is broad and unfair because it does not account for individuals, but merely broad-brushes an entire group of people.

Answer 9

Because they didn't become millionaires by giving their money away!

Answer 10

Because wealth can easily corrupt even the best people. As it is said, money is an excellent slave but a terrible master.

Answer 11

Which is why they continue to become millionaires.