Former Abbott (NYSE:ABT) CEO Jack Schuler joined a number of billionaires who agreed to donate more than half their fortunes to philanthropy.
According to a Chicago Tribune report, Schuler was among 14 billionaires who signed the Giving Pledge, an initiative aimed at involving the wealthiest people in the world in philanthropic efforts to challenge the biggest problems around the globe.
Schuler — who served as Abbott’s President from 1987 to 1989 — and his wife, Renate, plan to give all his wealth to the Schuler Education Foundation, which he founded to help underserved students go to selective colleges. Schuler and his wife joining the Giving Pledge brings its total to 231 philanthropists across 28 countries, each with their own cause.
“Joining The Giving Pledge and channeling the resources I was so fortunate to earn enables me to impact underserved communities and undocumented students,” Schuler wrote in a Giving Pledge letter. “I hope it will create a ripple effect of opportunity for generations to come.”
