Richard Branson: I decided I didn’t want to waste the position we found ourselves in. And with wealth comes enormous responsibility.
And capitalism has enormous faults. I’m going to say it’s the only system that seems to work, but it also throws out this enormous wealth.
Tennis players, enormously wealthy. Thousands of tennis players very poor. And you know basketball players, footballers the same.
Rife throughout society is this extreme, extreme wealth that’s created by capitalism. So if you’re one of those lucky people who are in that position where you get that extreme wealth, you’ve just got to make sure that wealth goes back to society in some form or another. Whether it’s creating more jobs, or whether it’s tackling the problems of the world; that money must not languish in a bank account and be unproductive.
You can make a big difference. And for a relatively small amount of money, you can make a big difference to a lot of people’s lives. So over the years I think we have continued in that spirit, but we never really had the resources to really make a difference.
And I never really had the power to be able to pick up the phone to [Bill] Clinton or [Nelson Mandela, or whoever in the world, and get straight through and get things done. So now I’m in that position, and it would be very sad to waste that position and just to carry on trying to accumulate wealth and more and more wealth.
And you know it’s important we have the Virgin machine to generate the wealth; but then it’s very important for the staff who work for Virgin to know that wealth is going to be spent in a constructive way, and that’s what we plan to do.
Recorded on: July 5, 2007
Discuss
Tommy Rainey on January 7, 2008, 9:50 AM
Its great to hear an entrepreneur like Richard moving towards making a significant contribution with his wealth. Exciting! I wonder to what extent he could spend some portion of his time actually encouraging others to do the same, not necessarily for his projects, but just encouraging them to think about giving the bulk of their fortunes to worthy causes while still living instead of in a will or through their estates.
Tommy Rainey on January 7, 2008, 2:50 PM
Its great to hear an entrepreneur like Richard moving towards making a significant contribution with his wealth. Exciting! I wonder to what extent he could spend some portion of his time actually encouraging others to do the same, not necessarily for his projects, but just encouraging them to think about giving the bulk of their fortunes to worthy causes while still living instead of in a will or through their estates.
P Conner on January 9, 2008, 1:02 PM
I agree with Richard Branson. Those who make money have a responsibility to give back to the community. The wealth has to be distributed.
P Conner on January 9, 2008, 1:04 PM
"Trickle down economics" is a failure to most Americans. Because nothing has "trickled down" to the average American. 2% of the people own 50% of the wealth in the world. That means a poor person is fighting with over 1000 other poor people for a small amount. That type of scenario can make for a revolution. Wealthy people have to give back to the community.
P Conner on January 9, 2008, 6:02 PM
I agree with Richard Branson. Those who make money have a responsibility to give back to the community. The wealth has to be distributed.
P Conner on January 9, 2008, 6:04 PM
“Trickle down economics” is a failure to most Americans. Because nothing has “trickled down” to the average American. 2% of the people own 50% of the wealth in the world. That means a poor person is fighting with over 1000 other poor people for a small amount. That type of scenario can make for a revolution. Wealthy people have to give back to the community.Douglas Whitmore on January 16, 2008, 3:21 PM
Mr. Branson's accomplishments demonstrate the benefit of the following:
Listen is to learn is to increased knowledge is to lessened fear/hate is to reduced judgement is to an improving world community.
Listening is audible; it can also be – the visual tranferred to audible (reading print or viewing an image, as translated by one's mind-voice)
Even a non-hearing, non sight-enabled individual listens to the voice of their mind in whatever 'language' they come to understand.
I invite you to respond ~ I'm Listening.
Whitman Moore ~ The Listening Blog
James Shores on January 16, 2008, 3:59 PM
Anytime someone gives back to the community it should be praised more than it is. It is not their duty whatsoever to give anything back. They made the money, why do they have to give it back? If someone who is poor won the lottery they would have a substantial amount more than the average person, but no one expects them to give any back to the community.
Douglas Whitmore on January 16, 2008, 8:21 PM
Mr. Branson’s accomplishments demonstrate the benefit of the following:
Listen is to learn is to increased knowledge is to lessened fear/hate is to reduced judgement is to an improving world community.
Listening is audible; it can also be – the visual tranferred to audible (reading print or viewing an image, as translated by one’s mind-voice)
Even a non-hearing, non sight-enabled individual listens to the voice of their mind in whatever ‘language’ they come to understand.
I invite you to respond ~ I’m Listening.
Whitman Moore ~ The Listening Blog
James Shores on January 16, 2008, 8:59 PM
Anytime someone gives back to the community it should be praised more than it is. It is not their duty whatsoever to give anything back. They made the money, why do they have to give it back? If someone who is poor won the lottery they would have a substantial amount more than the average person, but no one expects them to give any back to the community.
Jyle Dupuis on January 17, 2008, 9:21 PM
Branson's got the right idea. Capitalism is the only system that really worlks. But the wealth won't circulate if it's not being put back. Big money is needed for big developments.
Jyle Dupuis on January 18, 2008, 2:21 AM
Branson’s got the right idea. Capitalism is the only system that really worlks. But the wealth won’t circulate if it’s not being put back. Big money is needed for big developments.
Domenic Papa on January 18, 2008, 9:34 AM
Richard has it right. I also see that giving it back can also be a way of taking on a challenge. In Richards case he started and grew a hugely successful business which is a great challenge. Now he can see the other challenges in the world and try to take them on. They wont make him rich but he will feel a lot better about himself. This isnt wrong. We all feel good when we do our small bit to help someone.
However here is a thought.
A few years ago a read how a group was looking for $45mil in sponsership to build a yaucht to race in the Americas Cup. In the same newspaper I read how the burns unit in a childrens hospital was loosing $1mil a year in government funding.
Why doea a sportsman make millions to wear a certain brand of clothing yet a guy like fred Hallows (now dead) had to beg money from the community to save peoples eyesight?
This is why giving it back is such a great thing because there is no money in it. A little press maybe but usually no more than "he is such a nice guy" and forgotten.
quinn mcgill on January 18, 2008, 1:10 PM
i am of the opinion, that it is not only an honorable deed to 'give back
- a nice thing that nice people do —-it is a necessity.
it sickens me to think that a small handful of people possessing billions of dollars, could feed the ENTIRE POPULATION oF THE WORLD, and they don't. have they forgotten that there are people, families, children in the world who have nothing to eat and no place to sleep? how do they live with themselves?
it just blows my mind that with all the opportunities available, millions of people are denied the basic rights of humanity, constantly.
people employ masseuses for their dogs and own commercial-turned-personal airliners, while millions of children have died, are dying and will die in the future from starvation, exposure and lack of medical attention.
are there really people out there that think their fellow humans don't deserve help?
i also hate hearing about the lazy, ungrateful homeless right here in our own country. some people meet hard times and find they can't match up to the pressure on their own. they have no one to help them. they are cast into the street and instead of giving them aid we spit on them. how is a person looking the way they do, going to get a job. no one's going to give a smelly bag lady a job. but if no one gives her a job, how is she going to have money to make herself acceptable to society to get a job? can you say catch-22? not to mention, how many of them are supposed to have severe mental illnesses? 40%, give or take. almost half. 11% are parents with children. 23% are children under the age of 18. At least according to the SAMHSA National Mental Health Information Center.
i don't even think i can talk about it anymore, it makes me so angry.
i don't think people should be forced to give away their millions, strike that….billions. i think they should want to. i think they should want to help their fellow man, woman, and child. if that makes me a pinko bitch, so be it. i prefer to think of myself as an idealist. better connotation, though none-the-less despised in our practical society.
Domenic Papa on January 18, 2008, 2:34 PM
Richard has it right. I also see that giving it back can also be a way of taking on a challenge. In Richards case he started and grew a hugely successful business which is a great challenge. Now he can see the other challenges in the world and try to take them on. They wont make him rich but he will feel a lot better about himself. This isnt wrong. We all feel good when we do our small bit to help someone.
However here is a thought.
A few years ago a read how a group was looking for $45mil in sponsership to build a yaucht to race in the Americas Cup. In the same newspaper I read how the burns unit in a childrens hospital was loosing $1mil a year in government funding.
Why doea a sportsman make millions to wear a certain brand of clothing yet a guy like fred Hallows (now dead) had to beg money from the community to save peoples eyesight?
This is why giving it back is such a great thing because there is no money in it. A little press maybe but usually no more than “he is such a nice guy” and forgotten.
quinn mcgill on January 18, 2008, 6:10 PM
i am of the opinion, that it is not only an honorable deed to ‘give back
- a nice thing that nice people do —-it is a necessity.
it sickens me to think that a small handful of people possessing billions of dollars, could feed the ENTIRE POPULATION oF THE WORLD, and they don’t. have they forgotten that there are people, families, children in the world who have nothing to eat and no place to sleep? how do they live with themselves?
it just blows my mind that with all the opportunities available, millions of people are denied the basic rights of humanity, constantly.
people employ masseuses for their dogs and own commercial-turned-personal airliners, while millions of children have died, are dying and will die in the future from starvation, exposure and lack of medical attention.
are there really people out there that think their fellow humans don’t deserve help?
i also hate hearing about the lazy, ungrateful homeless right here in our own country. some people meet hard times and find they can’t match up to the pressure on their own. they have no one to help them. they are cast into the street and instead of giving them aid we spit on them. how is a person looking the way they do, going to get a job. no one’s going to give a smelly bag lady a job. but if no one gives her a job, how is she going to have money to make herself acceptable to society to get a job? can you say catch-22? not to mention, how many of them are supposed to have severe mental illnesses? 40%, give or take. almost half. 11% are parents with children. 23% are children under the age of 18. At least according to the SAMHSA National Mental Health Information Center.
i don’t even think i can talk about it anymore, it makes me so angry.
i don’t think people should be forced to give away their millions, strike that….billions. i think they should want to. i think they should want to help their fellow man, woman, and child. if that makes me a pinko bitch, so be it. i prefer to think of myself as an idealist. better connotation, though none-the-less despised in our practical society.
Tim Ray on January 18, 2008, 7:29 PM
The Golden Rule: he who owns the gold makes the rules.
Tim Ray on January 19, 2008, 12:29 AM
The Golden Rule: he who owns the gold makes the rules.
Graciela Pantin on January 19, 2008, 1:30 PM
It is not only the willingness to give , it is the professional organization to make it happend transparently
Graciela Pantin on January 19, 2008, 6:30 PM
It is not only the willingness to give , it is the professional organization to make it happend transparently
Andrya Rudolph on January 19, 2008, 7:16 PM
I just have a great day when I'm giving and receiving. I call being kind is the same as putting into the pot of plenty; paying it forward. The world is such a better place to be when I am in this particular groove of being. I don't have a lot of money to give. My part right now is to aim to give back and forth rhythmically.
J Bud Lewis on January 19, 2008, 8:49 PM
Please, you sound like your looking for a mate, or one you have is about to go to war with you. LOL When you have that much money…just do it…and if you fail, well, you know what to do sire…tease. Go make a fresh salad and ponder the ingredients!
J Bud Lewis on January 19, 2008, 9:13 PM
I would bet you are wrong about more than the average can be, though its nice to be rich. Tell us. They currency for my bet with you would be a Tugrik. One Tugrik.
Andrya Rudolph on January 20, 2008, 12:16 AM
I just have a great day when I’m giving and receiving. I call being kind is the same as putting into the pot of plenty; paying it forward. The world is such a better place to be when I am in this particular groove of being. I don’t have a lot of money to give. My part right now is to aim to give back and forth rhythmically.
J Bud Lewis on January 20, 2008, 1:49 AM
Please, you sound like your looking for a mate, or one you have is about to go to war with you. LOL When you have that much money…just do it…and if you fail, well, you know what to do sire…tease. Go make a fresh salad and ponder the ingredients!
J Bud Lewis on January 20, 2008, 2:13 AM
I would bet you are wrong about more than the average can be, though its nice to be rich. Tell us. They currency for my bet with you would be a Tugrik. One Tugrik.
Jen Something on January 20, 2008, 11:21 AM
Hey Richard, I want to chat about your reward.(Largest reward in history) I have the experts, the innovations and the debate for you.
Problem is you are full of it. Phone calls, emails, this site and others…. You are exposed now. Chat with me, or be known as a bold faced lier. *This is another real attempt of contact regarding your environmental reward. Bloggers are helping now and some movie producers are involved now. You can't hide.
Jen Something on January 20, 2008, 4:21 PM
Hey Richard, I want to chat about your reward.(Largest reward in history) I have the experts, the innovations and the debate for you.
Problem is you are full of it. Phone calls, emails, this site and others…. You are exposed now. Chat with me, or be known as a bold faced lier. *This is another real attempt of contact regarding your environmental reward. Bloggers are helping now and some movie producers are involved now. You can’t hide.
Ryan Kelly on January 22, 2008, 11:32 AM
Richard is absolutely correct in saying that the the wealthy products of capitalism, luck, and opportunity have a responsibility to give back to the world that made them so successfull. Wealthy billionaires such as Branson have a duty no only to help those less fortunate and those in third world countries, but also to create jobs and exciting new opportunities for those in our own society.
Ryan Kelly on January 22, 2008, 4:32 PM
Richard is absolutely correct in saying that the the wealthy products of capitalism, luck, and opportunity have a responsibility to give back to the world that made them so successfull. Wealthy billionaires such as Branson have a duty no only to help those less fortunate and those in third world countries, but also to create jobs and exciting new opportunities for those in our own society.
J Bud Lewis on January 22, 2008, 8:54 PM
My apologies for being ananomous. Hell, I am so tiny nano is bigger than me. Really. What do you expect the poor to do. I am one of them- that has ideas…but there are too many of "ewe"'s. lol i think of vanity in these cases presented…so I have 2 be honest. Hell my aircar.com, well at least the powertrain I first built is on France!!! Go figure.
Catman Cohen on January 22, 2008, 11:21 PM
The concept of a "billionaire philanthropist" is an oxymoron. If
somebody has amassed a billion dollars of net worth, that person likely did so by overcharging for products or services either through monopolistic or oligopolistic power in the marketplace. It would be much more impressive to see the "billionaire philanthropist" drastically cut prices for the benefit of mankind rather than merely handing over 10%-20% of personal net worth for purposes of obtaining a tax break long after having gouged the consumer.
J Bud Lewis on January 23, 2008, 1:54 AM
My apologies for being ananomous. Hell, I am so tiny nano is bigger than me. Really. What do you expect the poor to do. I am one of them- that has ideas…but there are too many of "ewe"’s. lol i think of vanity in these cases presented…so I have 2 be honest. Hell my aircar.com, well at least the powertrain I first built is on France!!! Go figure.
Jen Something on January 23, 2008, 3:15 AM
Double speak is busted fast. I don't know if this site will survive.
The truth forces out lies just as light stomps out darkness.
Ya, soon we will have confessions and tears.
Catman Cohen on January 23, 2008, 4:21 AM
The concept of a “billionaire philanthropist” is an oxymoron. If
somebody has amassed a billion dollars of net worth, that person likely did so by overcharging for products or services either through monopolistic or oligopolistic power in the marketplace. It would be much more impressive to see the “billionaire philanthropist” drastically cut prices for the benefit of mankind rather than merely handing over 10%-20% of personal net worth for purposes of obtaining a tax break long after having gouged the consumer.
Jen Something on January 23, 2008, 8:15 AM
Double speak is busted fast. I don’t know if this site will survive.The truth forces out lies just as light stomps out darkness.
Ya, soon we will have confessions and tears.
Sharon Danley on February 3, 2008, 7:56 AM
Its great that Richard is giving back, but an economy that allows such a small portion to get rich while the majority remains poor is a deficit in itself. Uncontrolled population, squandered economy and complete disregard for Mother earth is a great recipe for destruction.
Sharon Danley on February 3, 2008, 12:56 PM
Its great that Richard is giving back, but an economy that allows such a small portion to get rich while the majority remains poor is a deficit in itself. Uncontrolled population, squandered economy and complete disregard for Mother earth is a great recipe for destruction.
Jen Something on February 13, 2008, 5:52 PM
I don't know…
www.investigatethesec.com
www.thesanitycheck.com
Jen Something on February 13, 2008, 10:52 PM
I don’t know…
www.investigatethesec.com
www.thesanitycheck.com
C. Elizabeth Bower on March 6, 2008, 5:06 AM
Though I've come to cringe at the fashionable phrase "to give back" I believe we, as human beings, can all benefit from the act of simply "giving" — sharing our wealth with one another in a multitude of ways, be it money, empathy, fellowship without judgement or genuine kindness with no anticipation of reward save for the immeasurable, pure, soul-awakening experience of giving of self, not necessarily of monetary wealth. Though I am not monetarily wealthy, I amass, daily, the wealth of intimacy with my fellow human beings. For that, I am grateful. We must give sincerely and from the heart, be it the gift of money, effort or time. Giving of oneself, especially in what most folks consider the "small" ways, connects us, intimately, with one another. Connecting is contagious.
Be well, be kind—the true "wealth" we each possess.
C. Elizabeth Bower on March 6, 2008, 10:06 AM
Though I’ve come to cringe at the fashionable phrase “to give back” I believe we, as human beings, can all benefit from the act of simply “giving”
- sharing our wealth with one another in a multitude of ways, be it money, empathy, fellowship without judgement or genuine kindness with no anticipation of reward save for the immeasurable, pure, soul-awakening experience of giving of self, not necessarily of monetary wealth. Though I am not monetarily wealthy, I amass, daily, the wealth of intimacy with my fellow human beings. For that, I am grateful. We must give sincerely and from the heart, be it the gift of money, effort or time. Giving of oneself, especially in what most folks consider the “small” ways, connects us, intimately, with one another. Connecting is contagious.
-the true “wealth” we each possess.Be well, be kind
Nina Camara on March 28, 2008, 2:04 PM
I think giving back is important especially when you have accummulated an extraordinary wealth.I guess that it is some kind of protection against the obsession with money and material goods,which so many well-off people have. I think being extremely rich may be in a way as difficulty as being poverty striken. It may open up many new opportunities for one, but it may close many "doors" as well especially when it comes to relationships.
So I do appreciate people like Mr Branson who realised that giving is as important as getting and who voluntarily take a bigger amount of responsibility for the society than they are expected to.
Nina Camara on March 28, 2008, 6:04 PM
I think giving back is important especially when you have accummulated an extraordinary wealth.I guess that it is some kind of protection against the obsession with money and material goods,which so many well-off people have. I think being extremely rich may be in a way as difficulty as being poverty striken. It may open up many new opportunities for one, but it may close many “doors” as well especially when it comes to relationships.
So I do appreciate people like Mr Branson who realised that giving is as important as getting and who voluntarily take a bigger amount of responsibility for the society than they are expected to.
Marianne Stovall on July 26, 2009, 12:20 PM
Marianne Stovall on July 26, 2009, 1:41 PM
Well, I consider myself middle class spoiled America. White female 51 years of age, raised mostly on tv commercials and programs giving me the idea that, that is what you do— spoil yourself, think of yourself, and move in life considering what can be done for yourself. Being easily swayed in that direction as so many of us are, you are safe as long as you stay that route, but things have changed in my life that you would think might make me a better human being yet I am very distressed to allow myself to be awakened to all the needs of humans and animals so desperate in the U.S. It is very scarey to wake up to this. After waking up so late in life there is very little I can do now. All I can do mostly is hope that most of America is not like me being totally consumed in what is in it for me, and I hope they are awakening up earlier in life than I. As I see things now, I do give much more than I did, and I do want desperately to give because of my short comings. For me being middle class, there is very little I can give other than time, and I realize that money is what needy people and animals need to make safe positive changes for themselves and their families. Certainly wealthy people should give back to society, based on the obvious fact that they themselves are one of the lucky and one of the few. It is the American process of raising children the wrong way that has got me in the conditions I’m in. It is not my parents fault, they did the best they could and tried to make me a more concerned person, but it is the tv media that produced spoiled Americans like me. I was mentally seduced. I am what I see! If I had been exposed to more people doing Mother Theresa like things then I would have persued a more sensitive approach for the world and it’s humans and animals, yet all I saw was all the people who had it all, or appeared to have it all, so I persued that convinced that, that would be me some day. People who have it all are glorified to the young, and people who are helping other humans and animals are not recongized much at all, and many times they are humiliated and made fun of. The tv is the best educator of the world. Right now in the U.S. it only wants to glorify wealth. Children flock to programs that suggest that the wealthy way is the right way. Children look at other children on tv focusing on an image of wealthy. Most all children believe this is where they will be when they grow up. TV makes it look so easy to be wealthy, and the child gets the feeling that it is normal. When they hit the real world many of them realize they have been seduced, they become bitter, or depressed. When they realize that they are left out, jealousy and anxiety arises. Most American are unable to escape this realm. They all live right here for the rest of their lives. There just aren’t as our Billionaire has stated many great things for average Joe to do in America except perhaps make a joke of it all, and that of course still brings in no major cash. All we can do is hope that those more fortunate can make a difference in America, while the rest of us watch it just as we watched TV. The wealthy know they are fortunate and they also know not to give it up. They know they are in the right place, that place where you might can spoil yourself like you saw on TV.
If you want to change America, change it’s children, by teaching them and arming them with tools to help Average Joe respect himself and appreciate himself, and be able to help others like him, so he might get some real fullfillment to life. Teach children that the wealthy way of life only works for those people that simply must have more than others. Teach children that having more toys isn’t really as much fun and making sure that everybody has a toy. Glorify children that accept this, study them, and learn how to produce tv shows that explore this. Don’t spend a childs life teach them to stay narcisistic. Last, quit rewarding the wealthy so much and they will stop being such a big deal. In a world as complex as ours, where would we get the idea that being wealthy is what we were born for. Hopefully wealthy people will teach the world that the lifestyle of a Billionaire is not so worthy.
If you believe in a larger being directing this whole process, why would this being see fit that so few get the big reward of wealth. What will this higher being think about those of wealth. You get the feeling when you look at the wealthy that a higher being has choosen that they be exaulted above the rest of us for some special reason. Well I sure hope that is right, because that is very true and obvious in our society. So they had better hope that the higher being does see them as deserving of more, based on their very human qualilties. It would have to be because a person really is just born with more fortune in all human qualities, and that they have been noticed by this higher being and exaulted, in order that the rest of us see and can celebrate that the higher being is stating that when you are born fortunate this is what you will receive. So everyone pray mostly for your children to be born with these special quailties, that give them that edge over all others, that they may be exaulted and lifted up like a shrine, and other children will shout, you are who I want to be, and you are who I want to be around. If I can’t be you then I will be closer to that higher being just by being around you.
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