While billionaires like Bill Gates, Mark Zuckerberg and Salesforce’s Marc Benioff, are known for their philanthropy, by one measure VMware CEO Pat Gelsinger could be considered even more generous.
Long ago, he publicly vowed to give an increasing percentage of his gross income to charity and he’s now up to 50%, he tells Business Insider.
“I make a lot of money so I can give a lot of money away. We have a small foundation, but most of it we just give directly from our revenue and overall holdings that we have,” he says.
“My wife and I set an objective early on to increase the percentage of our gross income every year to charities. We’re almost at 50%. For every dollar I get, I’m giving away 50% of gross income.”
He gives away so much of his income that he’s “running into tax limitations,” he says. “They don’t even let you write it off at that level. Appreciated assets is 30% and cash is 50% of income. So, I’m just accruing this deductible bucket for the future,” he laughs.