South Africa’s Billionaire Gives Away Family Fortune To Charity


With a $1.41 billion net worth, the 7th richest South African most recently gave away his fortune worth billions of rand to philanthropic courses. This will rate him as high as the international billionaire, Warren Buffet whom under the Giving pledge initiative have donated 99% of their fortune to charity through the Bill & Melinda Foundation.

For over 40 years Allan’s family have been in control of Allan Gray investments but as at now the controlling shares of the company have been consequently transferred to Allan and Gill Gray Foundation- to handle the philanthropic executions of the company’s profits. This bold step seriously takes African philanthropy to the next level. As at 2014, his investment/management firms controlled billions of dollars with the utmost efficiency; thus, it is one of the top best in South Africa. Administering the management of about $40 billion worth of assets, Allan Gray Investment is the largest privately owned asset manager in South Africa.

In the early 70’s he founded Allan Gray Limited; in 1989, he founded Orbis Investment Management and according to Forbes:

“In 2005, Gray founded the Allan Gray Orbis Foundation with a gift of $130 million in personal funds, which provides fellowship grants for secondary and tertiary educations to emerging business leaders. The foundation also receives 7% of the taxed profits of Allan Gray Limited.”

Thus the giving business has always been a thing of interest to him. Though a self-made billionaire, Allan Gray, is a 78-year-old selfless humanitarian who would disregard all of his years of toil and his profits for the well-being of the less privileged. What more could any society wish for. With a few more Allan Gray’s, Africa’s giving mentality will drastically change for the better.