Wealthy individuals give to charity for a variety of reasons, but one of the most common reasons the wealthy donate is “legacy.” According to one British billionaire, John Caudwell, making money and gaining business success are not rewarding enough—seeing how his donations help improve live is the real reward. Caudwell became charitably inclined after helping a young girl with spinal muscular atrophy, and he now donates a majority of his wealth. In an effort to encourage more wealth Britons to donate to charitable causes (wealthy Britons give about a tenth of the rate of wealthy Americans), Caudwell is speaking out about his own charitable notions. The Wall Street Journal’s interview with Caudwell is below:
