What would you do if you had $1 billion? What about $5 billion?

For Rob Hale, it was an easy decision to give it away.

Now, he’s not giving away every last scent of their money.

But he has decided, along with his wife, Karen, to give a big portion of it to the people who need it the most.

Rob and Karen Hale are philanthropists.

Rob is also the co-founder and president of Granite Telecommunications as well as the co-owner of the NBA team, the Boston Celtics. According to the Forbes list, he is worth around $5 billion.

He and his wife definitely have more money they could spend.

Because of their generous and open hearts, they decided they wanted to give some of it away to the local community.

In fact, they have a very specific goal to accomplish for the year 2022.

They have pledged to donate $52 million each to at least 52 non-profit organizations. More than that, these donations are actually charitable endowments.

This means that the money will be invested and a portion of that investment will be used for overhead expenses and to fund new programs.

The charities or organizations the Hale couple chose are small and financially uncertain.

“We feel all of these organizations are great, they make an impact in the community, but they’re pretty small,” Rob explained. “In most cases, they don’t have an endowment, so this is our attempt to set them up for long-term success.”

Having a charitable endowment will help these organizations focus on their advocacies without having to worry about staying afloat.

Because these organizations have an annual revenue of less than $5 million, these investments and endowments will help support them long-term. A lot of these organizations had and are having a tough time keeping things stable during the pandemic. A lot of them had trouble raising funds and even hiring new staff because there weren’t enough funds.

Since it’s invested, they can get at least $50,000 a year, depending on how much is reinvested every year.

“That gives them more of a stable future and it gives them the ability say, ‘OK, we know where money is coming from and we can focus on doing great work,'” Rob added.

Rob knows the financial struggle well because his first company went bankrupt during the dotcom crash.

The first $1 million check went to the New England Wild Life Center in March 2022. By the end of September 2022, they had already given out checks to 29 other non-profit organizations, including Joe Andruzzi Foundation, Kerry Jon Walker Fund, South Shore Stars, and Cambiando Vidas.

As of October 2022, they have already started the charitable endowment paperwork for 11 other non-profit organizations.

That leaves them with more non-profits that will receive the generous endowment.

Most billionaires and even millionaires have an unfavorable reputation for being big spenders and wasting their money on luxuries and extravagance.

It’s refreshing to know that there are still more billionaires who would rather use their money to give back to their local communities.

Meet the generous billionaire below!

Please SHARE this with your friends and family.

Source: YouTube – CBS Boston, Positive Outlooks, Forbes, Patriot Ledger