May 21, 2008 | Read Time: 1 minute
For years, the billionaire Nicolas Berggruen has avoided the spotlight but in a profile in The Wall Street Journal the investor is discussing his interest in philanthropy and investing in business enterprises that fight social ills.
Mr. Berggruen, 46, is worth more than $3-billion and is investing in rice farms, windmills, alternative energy, and urban development in poor cities around the world. He says he plans to give his fortune to a foundation and an art museum when he dies.
“Historically, I’ve made my money in financials,” Mr. Berggruen told the newspaper. “Now, I’m investing in the real world. I’m investing in the ground, in things that will last for generations and improve people’s lives.”
On The Journal’s Wealth Report blog, the author of the article, Robert Frank, writes that the billionaire’s “perspective seems to be increasingly common among today’s superwealthy — and even wealthy — who are looking for more lasting meaning in their lives beyond their possessions.”
What do you think of Mr. Berggruen’s efforts?
