Jack Schuler, former CEO of Illinois-based Abbott Labs, was among more than a dozen billionaires from across the globe who signed the Giving Pledge this year, vowing to donate more than half their fortunes to philanthropy.
Founded in 2010 by Bill Gates, Melinda French Gates and Warren Buffett, the Giving Pledge aims to foster a culture of philanthropy among the world’s wealthiest to tackle the world’s biggest problems.
“I’ve always believed that if you’re in a position to help somebody, you should do it,” Gates said in a statement. He said the new group will “continue to learn from each other and find new ways to maximize the positive impact of our philanthropy.”
Schuler, who in addition to being president of Abbott Laboratories from 1987 to 1989, is also a founding investor of Ventana Medical Systems and Stericycle Inc., which sterilizes and recycles medical infectious waste, and his wife, Renate, plan to give all his wealth to the Lake Forest-based Schuler Education Foundation that he founded to help send underserved students to selective colleges.
“Joining The Giving Pledge and channeling the resources I was so fortunate to earn enables me to impact underserved communities and undocumented students. I hope it will create a ripple effect of opportunity for generations to come,” the 81-year-old Schuler said in his Giving Pledge letter.
Schuler, who along with his wife live in Lake Bluff, is among 14 new billionaires to sign the Giving Pledge this year, raising the total to 231 philanthropists from 28 countries — all of whom have found singularly important causes.
In addition to Schuler, other philanthropists include Tony Xu, CEO and co-founder of DoorDash, and his wife, Patti Bao; Ben Silbermann, CEO and co-founder of Pinterest, and his wife, Divya; and Melanie Perkins and Cliff Obrecht, co-founders of design platform Canva.
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Jon Ayers, former CEO of veterinary services firm Idexx Laboratories and current chairman of Panthera, the global wild cat conservation organization, also signed the pledge with his wife, Helaine.
Jared Isaacman, CEO of Shift4 Payments, and his wife, Monica, signed the pledge after Isaacman made a $100 million commitment to St. Jude Children’s Research Hospital. He helped raise millions more for St. Jude through a three-day private spaceflight in Sept. for himself and three other space tourists.
India’s Anil Agarwal, the Netherlands’ Steven Schuurman, Brazil’s David Vélez and Mariel Reyes, and the South Korean couples Bongjin Kim and Bomi Sul, and Miseon Hyeong and Beom-su Kim, also committed to the Giving Pledge. Americans Ric and Brenda Elias, Jeff T. Green, and Byron and Tina Trott also signed it in 2021.
The Associated Press contributed.