Billionaires John, Laura Arnold to give 5% of wealth yearly

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Billionaire philanthropists John and Laura Arnold have committed to donate 5% of their wealth annually as part of an effort to encourage increased, timelier donations to charities. The Arnolds, who live in Houston, are the first billionaires to sign on to the advocacy organization Global Citizen’s “Give While You Live” campaign, which calls on the world’s billionaires to give at least 5% of their wealth every year to a cause. The Arnolds’ pledge Monday came as part of an alliance between Global Citizen and the Arnold-led Initiative to Accelerate Charitable Giving — a coalition of donors and experts who want Congress to raise giving requirements.

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