Billionaire businessman has decided to give away $1 million every week

Charlie Herbert

Billionaire giving away $1 million a week

An incredible gesture

A billionaire in the US has decided to give away $1 million (£885,415) of his fortune every single week this year.

Boston billionaire Rob Hale runs Granite Telecommunications and together with his wife Karen the pair thought of an incredibly generous way to give back.

The couple have spent 2022 giving away $1 million for every week of the year to a different small non-profit organisation.

The different groups have said the financial aid “has meant the world” to them and is a level of funding that they could only dream of.

Speaking to CBS, Hale said “We’re blessed, we’re very fortunate. And our belief is that we should extend those good tidings as deeply into the community as much as possible.

This year, Karen and Rob Hale ’88 P’20 are challenging themselves to give $52 million to 52 different nonprofits, creating endowments that sustain the organizations long-term. #CamelsDefyBoundaries
📰 https://t.co/pSult1aM0X pic.twitter.com/VgJWGAdHb2

— Connecticut College (@ConnCollege) October 13, 2022

“There are so many vital impactful smaller organizations in our communities that needed our help.”

Whilst the funding has allowed some of the non-profit groups to expand their operations, for others it has simply meant they are no longer worrying about money for another year and can continue their good work.

Hale’s charitable work actually stretches all the way back to 2011, when colleagues would each put $3 towards a charity of their choice, with the company then matching the total donated.

Sue Chandler, director of DOVE (Domestic Violence Ended), said the donation from Hale was “absolutely our biggest gift ever” and that they were looking at investing it in a new building for their group.

WOW: A businessman in Greater Boston is giving back, with his goal of making 52 weekly gifts of $1 million each to organizations across the state.https://t.co/8jWlvPvBQk pic.twitter.com/AeVlgJXtps

— NECN (@NECN) October 18, 2022

The couple have specifically chosen smaller non-profit groups to receive the funding as opposed to bigger and more well-known charities.

“When you realize that you’re helping other people, who are then going to help other people, it makes you feel so good,” Hale said. “To me it’s a gift that we actually get.”

According to Forbes, Hale has already paid out $28.5 million this year to 29 separate organisations with another 11 due for some money.

So that means there are still another dozen worthy projects the Hales need to choose.

A lovely reminder of the good in the world.

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