There are billionaires in the world who spend their time thinking of ways to grow their wealth and get richer.
They flaunt their money on social media and make the most ridiculous and expensive purchases that cost so much they 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. But recently, the couple has been focused on giving their money to smaller organizations.
Rob is the co-founder and president of Granite Telecommunications, as well as the co-owner of the Boston Celtics. According to Forbes’ estimates, he’s now worth about $5 billion.
With more money than they could ever spend from their profits at Granite Telecommunications and the Boston Celtics, Rob and Karen know how truly blessed and fortunate they are.
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 late September, the couple has donated $28.5 million to 29 non-profit organizations, some of which are involved in cancer and environment programs.
The Hales have also contributed to organizations dealing with Dominican Republic shelter issues and initiatives that aim to provide greater access for Boston youth who want to be active in service missions.
The billionaire couple knows that many small organizations with great causes and projects lack funding and financial support.
To make sure that these organizations will remain sustainable, Rob and Karen donate money as charitable endowments. This way, non-profits can generate annual income streams from which they can use a certain percentage.
Many of these million-dollar donations and charitable endowments support non-profit organizations like South Short Stars, which provides quality early education and youth development programs for the communities of south Boston, and the Joe Andruzzi Foundation, which helps cancer patients.
Apart from these, the Hales have also donated millions of dollars to various hospitals and institutions in Boston, including Domestic Violence Ended (DOVE), with the funding directly impacting the victims and survivors and even possibly constructing a new building for the organization.
The Ron Burton Training Village, a camp run by Steve and Paul Burton of WBZ-TV, is another recipient of these one million dollar donations.
A lot of these non-profits generate yearly revenues of less than $5 million. They were also some of the most heavily hit by the pandemic.
After all, it was challenging for these non-profits to hire people or hold fundraising events virtually.
With the Hales’ charitable endowments, their one million dollars can grow over time if non-profits will invest in them. This way, they can have a more stable future, not worry about where to get the funding, and just focus on doing the real work.
Suffice it to say, the Hales find happiness in making 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. Like Rob Hale, Warren Buffett, and MacKenzie Scott, these billionaires and business tycoons are using their money and resources to chip away at the wealth gap.
With the generous financial help of Rob and Kate Hale, they can ensure these impactful organizations will continue to thrive and provide them with a bit of financial stability in these uncertain times.