September 30, 2012 | Read Time: 1 minute
To celebrate the 30th anniversary of its rankings of the 400 richest people in America, Forbes put philanthropy front and center in its October 8 issue. The cover photo includes 12 of the richest Americans—including Bill Gates, Warren Buffett, and Oprah Winfrey—who have dedicated a big share of their wealth to philanthropy.
Inside the issue, the magazine features profiles of those billionaire philanthropists and others. Among the highlights:
- The media mogul Oprah Winfrey talks about the setbacks she experienced when she provided $40-million to build a school in South Africa for needy girls. Among the challenges: A scandal occurred when a dormitory parent was accused of molesting some of the students (the case ended in an acquittal). Ms. Winfrey eventually installed new leadership and was able to get the institution back on track. One of the mistakes she made, she tells the magazine, was not getting local residents involved in the early planning of the school. “I could write a book, 101 Mistakes,” says Ms. Winfrey.
- The hedge-fund investor Louis Bacon tells the magazine he likes to keep a low profile, but sometimes his desire to safeguard certain places in the world overshadows his desire for privacy. In his interview with the magazine, Mr. Bacon describes how he fought two energy companies that wanted to build an energy-transmission line on his 172,00-acre ranch in Colorado. After a public battle—in which Mr. Bacon revealed that he had donated $50-million to environmental and education groups—he won the public’s support and the companies backed down.
To learn more, go to forbes.com.
