Dan Gilbert, the founder of Quicken Loans, and Manoj Bhargava, the founder of 5-Hour Energy, are among two billionaires from Michigan that have joined Giving Pledge. Giving Pledge is an organization created by Bill Gates and Warren Buffett to redistribute their wealth to charity.
On Tuesday, Quicken Loans founder Dan Gilbert and his wife Jennifer along with Manoj Bhargava of Farmington Hills were among the names released by the Giving Pledge organization.
“My choice was to ruin my son’s life by giving him money or giving 90+% to charity. Not much of a choice,” said Bhargava wrote in a letter. “Service to others seems the only intelligent choice for the use of wealth.”
“It has been exciting more than words can express living in this great country and being able to start, develop and grow businesses. It will be even more exciting to deploy the wealth these businesses created to improve our world, which I feel confident will be a much better place in the years and decades ahead,” said Gilbert.
Gates and Buffett created the organization in 2010 and there are 92 billionaires that are part of it. Some of the members includes Mark Zuckerberg (Facebook), Ted Turner (CNN Founder), Michael Bloomberg (Bloomberg), Tom Monaghan (Domino’s Pizza), Paul Allen (Microsoft), Eli and Edythe Broad (SunAmerica), Larry Ellison (Oracle), Carl Icahn (Icahn & Co.), Vinod and Neeru Khosla (Khosla Ventures), George Lucas (Star Wars), Reed Hastings and Patty Quillin (Netflix), Harold Hamm (Hiland Partners), George Kaiser (BOK Financial Corp.), Gordon and Betty Moore (Intel), Pierre and Pam Omidyar (eBay), T. Boone Pickens (BP Capital Management), Jeff Skoll (eBay), and Dr. Romesh Wadhwani (Symphony Technology Group).