As a result of the fact that Richison has accumulated a considerable amount of wealth, he has decided to give half of it to the Giving Pledge. This philanthropic organisation encourages high-income individuals to donate their wealth to charitable organisations. Chad Richison understands that the charity organisation was discovered by Warren Buffett while playing poker with him about a decade ago. A former Paycom CEO, Richison, signed up to make the Giving Pledge to make a sustainable difference, and he told Forbes.
If I had a perfect world, I would identify those opportunities and make a gift long before I could die so that I could witness the good the gifts are making. In addition to joining The Giving Pledge, Chad Richison has contributed significant amounts to other charitable organisations. Richison has already given approximately $57 million to the American Cancer Society. In 2020, he will donate a further $5 million to the charity.
Upon receiving his charitable contribution, Richison plans to build a facility that will provide housing for cancer patients travelling outside Oklahoma City to get treatment. Richison donated $14 million to his alma mater, the University of Central Oklahoma. Richison’s donation is aimed at improving the athletic program at the university. In addition to funding and overhauling the university’s athletic program, Paycom’s CEO provided financial aid worth $6 million to local food banks, schools, and homeless shelters in the city.
I hope that this commitment inspires others and demonstrates that what is possible in life is limited to our imaginations and actions,” Richison writes on The Giving Project’s website. According to Richison’s profile on The Giving Project website, he has recently been crowned the highest-paid top executive among the S&P 500 companies due to his commitment to giving back. Despite his wealth, Richison promised to give away half of his fortune. According to Fox Business, Richison, 50, was paid $211 million from Paycom last year.
According to Financial Advisor Institutional Shareholder Services, the total compensation he will receive for 2020 includes several performance clauses that have increased his total compensation to $702 million. According to Forbes, Richison has a net worth of $2.9 billion due to the significant compensation he received, making him the highest-paid CEO in the S&P 500. According to Forbes, he has given away 1% to 4.99% of his wealth. Richison has an estimated net worth of $2.9 billion, making him number 1,064 on the list.
