JK Rowling Drops Off Billionaire List Due To Her Charitable Giving

JK Rowling, the first female novelist billionaire, recently lost her exclusive status because of some very good deeds.

We say recently because not many people know about it, but Forbes announced the fact in 2012 already. We thought we would remind you about the story and why it matters, for those that might not have known.

In 2004, welfare-mom-turned-bestselling-novelist J.K. Rowling of fame became the first author to make the Forbes billionaires list, thanks to the film and marketing empire based on her seven-book Harry Potterseries, the first volume of which launched in the UK in 1997.

She remained on the list for seven years, all the while building a reputation for her philanthropic endeavors, including contributions to the Multiple Sclerosis Society, the Children’s High Level Group (now known as Lumos), the building of a regenerative neurology clinic in Scotland, and various other charitable causes through her philanthropic trust, Volant.

In 2012, Forbes announced that Rowling had dropped off its billionaires list, citing two reasons: the estimated $160 million (16% of her fortune) she had given to charity, and Britain’s high tax rates.

“New information about Rowling’s estimated $160 million in charitable giving combined with Britain’s high tax rates bumped the Harry Potter scribe from our list this year,” Forbes noted in its “Billionaire Dropoffs” list.

Regarding her commitment to charity, J.K. Rowling was quoted in the Telegraph as saying, “I think you have a moral responsibility, when you’ve been given far more than you need, to do wise things with it and give intelligently.”

Rowling’s called One Parent Families, a nonprofit that empowers single-parent households, one of her favorite causes, according to The organization provides child-care services and helps parents discover new job and education opportunities.

The writer also founded her own charity, Lumos, which helps institutionalized and disadvantaged children in Eastern Europe.

Written by southhow

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