Hank Paulson, US treasury secretary and former chairman of Goldman Sachs, plans to join the ranks of the super-philanthropists, giving most of his estimated $800m fortune to environmental causes, according to Financial News.
The process was started last March, the publication reports, when Mr Paulson transferred shares in Goldman worth more than $100m to the Bobolink Foundation, an environmental charity he set up 21 years ago. “It is understood that towards the end of last year, Paulson established a more formal structure to give away most of his personal fortune, meaning the shares transferred to Bobolink will form the basis of a long-term philanthropic plan,” Financial News added.
The past 12 months have proved a record year for philanthropy in the US, with charitable pledges by the super rich running to $35bn.
Mr Paulson wanted to be a forest ranger before ending up in investment banking. He is chairman of the Nature Conservancy, an environmental charity, and also involved with the Peregrine Fund, which seeks to preserve birds of prey.
