German Billionaire Embraces Philanthropy
July 24, 2006 | Read Time: 1 minute
Hasso Plattner, who founded the SAP software business, gave $290-million in 1999 to start an engineering institute and business incubator, the first of several major philanthropic efforts in Germany, reports Newsweek magazine.
Volunteerism in Germany is increasing, as is citizen interest in education and public services, signaling a move away from the tradition of government caring for society’s needs, the magazine reports. A few wealthy individuals are also starting to make big gifts.
Mr. Plattner, who lives part time in Palo Alto, Calif., founded the Hasso Plattner Institute at the University of Potsdam, in Germany.
“I didn’t want to have to ask myself one day, ‘Why didn’t you do anything?’” Mr. Plattner says.
