Why millionaires like donation?Whenever we hear the word billionaire or millionaire the first thing that came into our mind is their luxurious life style, cars villas etc. The road to the millionaire is never going to be easy. You have to face a lot of struggles and hindrance on your way but once you have achieved it that is worth it. People consider that road is very simple but reality is different. You have to go through much more trouble before you have reached your goals. You will fail sometimes and that failure will leads you to start over again but you don’t have to lose your heart at that moment. You have to evaluate your failure and then start over. Let's talk about what it means to be a millionaire. According to the dictionary, a millionaire is someone who has a net worth of a million dollars in assets. It's not just cash; it could be cars, stocks, bonds, houses, websites or any number of things that count as assets and not liabilities. And the other thing about being a millionaire is to maintain your status and your lifestyle. Because people are going to expect those luxurious lifestyle and all that stuff, so you have to spend a lot of money on these things. If you think that millionaire doesn’t work then you are absolutely wrong. You can take example of Steve jobs and Bill gates they have worked so hard to make their mark in the world.
Now let’s discuss why millionaire donates so much money to society and different types of firms. Do millionaires give money away? They most certainly do, Oprah Winfrey has given away more than $50 million to help the society to be a better place while Ellen DeGeneres has given away free cars and houses to her fans who were struggling to survive financially with their money.
Even people like Jeff Skoll who is the eBay billionaire has given away over $300 million to help social enterprise while billionaires like Warren Buffett and Bill Gates have pledged to give away most of their money away after they die.
One and most important reason for millionaire to donate money is because of CSR. So CSR is commonly known as corporate social responsibility. So CSR basically is a business approach that contributes to sustainable development by delivering economic, social and environmental benefits for all stakeholders. CSR is a concept with many definitions and practices.
So many millionaire need to follow up with the society. So to make a good name in society they donate money as donation is a part of CSR. Mostly millionaire also wanted some fame or they wanted to be a part of news so they donate money just to let people know that they are doing something. Millionaires donate to create good CSR scores, to connect with the people, to make them seem more humane to the public, to build up the good reputation. And they also wanted to enjoy the fame obviously. There might be obviously other reasons also like they some of them have good heart and they really wanted to help humanity by setting hospital or whatsoever. So we cannot just sum up some facts. So I have discussed few of them above.
Read more here: http://www.wesrch.com/business/paper-details/press-paper-BU1HWO000XXBG-why-millionaires-like-donation