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October 18, 2011

Billionaire Donor Huntsman Sr. Says Giving Pledge Didn't Go Far Enough

Jon Huntsman Sr., a billionaire industrialist and father of presidential candidate Jon Huntsman Jr., told The New York Times that when his friend Warren Buffett helped launch the Giving Pledge, a call for billionaires to donate half of their wealth, "I suggested 80 percent."

In a rare interview, the elder Mr. Huntsman says he sympathizes with the Wall Street protestors and says that rich people could do much to fix a broken system by increasing their generosity. As it is, he says, "a tremendous number of wealthy people haven't given much of anything."

Mr. Huntsman, who made his fortune building a multinational chemical company, is listed by Forbes Magazine as one of 19 people to have given away at least $1-billion. A cancer survivor, he has made fighting the disease his primary philanthropic cause, supporting a major research and treatment center at the University of Utah.