In May 2013, Lord Ashcroft signed up to The Giving Pledge: a commitment by some of the world’s wealthiest individuals and families to dedicate the majority of their wealth to philanthropy, either during or after their lives.
It was founded in 2010 when 40 US billionaires went public with their promise. Since then, dozens of others have signed up to the cause and, early in 2013, it was decided that The Giving Pledge would expand its reach globally.
On May 6 2013, it was formally announced that Lord Ashcroft’s name had been added to the list of generous individuals – including Bill Gates, Warren Buffett and Mark Zuckerberg – who had already put their names to the cause.
Lord Ashcroft said: “I take enormous pleasure from giving something back to society and to making a positive difference to other people’s lives. I feel honoured to put my name to The Giving Pledge and to sharing such a worthwhile commitment with like-minded people.”
Lord Ashcroft, a self-made businessman, has never been a great believer in inherited wealth. After his death, his family will be trustees of a foundation set up in his name to support worthy causes.