Denny Sanford, Chairman and CEO of United National Corp. has donated a whopping $400 million to Sioux Valley Hospital at South Dakota. This money is intended for research in health care, medical education and children's health.
Sioux Valley Hospital has already received $16 million from Sanford in the year 2003 to support a programme in the children's wing of the hospital. Sanford's donation in the current year is projected to create 9200 jobs resulting in a vast expansion in the economic sector.
Warren Buffett, the second richest man in the world has gifted 85% of his wealth to Bill and Melinda Gates Foundation. Recently Oprah Winfrey started a school for girls in South Africa by contributing a sum of $ 40 million.
According to Todd Cohen of Philanthropy journal, affluent people are willing to contribute to the society after keeping a decent amount for them and their successors. He is very sure that such financial contributions will aid in development and modernization of health care industry.
Of late, there is a marked increase in the number of people donating to noble causes. It is definitely heartening to note that wealthy people are becoming socially responsible which makes a difference in the lives of many.