One of Pakistan's richest men is giving away his entire fortune to help the country's poor.
Per the Daily Pakistan, 61-year-old Muhammad Aslam Khan is giving away his entire fortuneestimated to be in the ballpark of $100 millionto three charities: Pakistan's Children's Foundation, Pakistan's Foundation for Development of Children, and Pakistan's Global Fund for Women's Advancement.
"I am giving away my entire family's wealth," Khan tells the Daily Pakistan.
"I am giving away everything I have.
I am giving away everything I have because I have a responsibility to give back to the society in which I live," adds Khan, whose family's fortune is believed to be in the neighborhood of $1.5 billion.
He says he's giving away most of his shares in his family's fertilizer company, Pakistan State Fertilizers, as well as his shares in a number of other companies.
Khan says he's giving away most of his shares in his family's Internet company, Pakistan Global Television Network, as well as his shares in a number of other companies.
He says he's giving away most of his shares in his family's real estate company, Pakistan Global Partners, as well as
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Senay Ataselim-Yilmaz, Chief Operating Officer, Turkish Philanthropy Funds, writes that philanthropy often solves the very problems that stems from market failure. Some social issues, however, cannot be tackled by questioning the return on investment.