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December 2, 2008 11:03:31 AM CST



New Breed of Billionaire Rises in Third World

Posted Dec 14, 07 1:26 PM CST in Business Arts & Living World 

(Newser) – A new type of billionaire with a philanthropic bent for social causes is emerging from once-poor nations such as Turkey, India, and Mexico, the New York Times reports. The billionaires, who generally made their money through investment in surging local markets, draw comparison to American titans of old such as Carnegie and Rockefeller, the Times notes.

Becoming a billionaire is "a great feeling, but your responsibilities increase,” said Turkey's Husnu Ozyegin, who has spent more than $50 million to build 36 schools and girls’ dormitories in impoverished areas. “I’m giving away 2 percent of my net income every month,” he said. “I don’t think Bill Gates is doing that." 

Source New York Times

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Azim Premji of Wipro Corp. listens to Jeff Bezos and Steve Ballmer in Redmond, Wash., Wednesday, May 16, 2007. The India philanthropist is pouring billions into health and education. (AP Photo/Joe Nicholson)   (Associated Press)
Turkish girls walk home from school. Billionaire Husnu M. Ozyegin is pumping millions of dollars in Turkey's education system.   (Getty Images)
Chelsea's owner, Roman Abramovich, stands in the crowd before his team's soccer match against Valencia during his Group B, Champions League soccer match at the Mestalla Stadium in Valencia , Spain, Wednesday,...   (Associated Press)
Philanthropist billionaires are making their mark in developing nations.   (Shutter stock)
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