GABM's $15-million US Dollar donation towards the Japan Earthquake
March 14, 2011
In response to the largest earthquake in recorded history, the Global Association of Billionaires and Millionaires (GABM) announced a donation of $15-million US Dollar to the relief efforts of the Japan earthquake catastrophe. The massive 9.0 magnitude earthquake struck the Pacific Ocean near North eastern Japan at about 2:46 local time on March the 11th, 2011. The earthquake and the subsequent Tsunami that followed have resulted in the deaths of thousands of people and it is believed that more than 3 000 individuals are still unaccounted for.
The devastation caused by the disaster to buildings and businesses are reported to exceed $100-billion, and the damage will take several years to repair. Extensive damage to at least 2 of Japan's nuclear power plants is a major concern and the Japanese authorities have already relocated more than 200 000 from the affected regions.
The President of GABM, Mr. Mark Paulsmeier has said that GABM has immediately responded to the calls from its Japanese associate members for monetary assistance towards the relief efforts. According to Paulsmeier the GABM organization has just over 700 associate members in Japan.
In recent years GABM has established itself as a leading contributor to international natural disasters. GABM has in the past donated $10-million US Dollar towards the Asian Tsunami; and $10-million US Dollar to the Hurricane Katrina; and $20-million US Dollar to the Haiti Earthquake disasters.
March 23, 2011
The Board of Executives of GABM has announced a further commitment of $-20 million US Dollar to the Japan Earthquake and Tsunami relief efforts; just a week after they have made a similar donation of $15-million US Dollar.
It is reported that the Japan death toll has surpassed the 24 000 mark, and the current financial cost of the damage caused by the earthquake and tsunami is estimated to exceed $-250 Billion. The Japanese government has said it will take more than 5 years to repair the associated damage.
GABM’s spokesperson has said that the $20-million will however not be donated to Japan in a once-off payment as was the case in the earlier donation of $15-million US Dollar.
GABM will send $10 US Dollar to Japan for every business or professional consultant that becomes a follower of its new GABM Twitter page from March 24th, 2011 up to a maximum of a million followers. Similarly, GABM will send to Japan a further $10 US Dollar for the first million Facebook owners that click the 'Like' button on the recently launched GABM Facebook.
According to GABM the organization’s aim with this initiative is to make the international corporate community aware of the importance of Corporate Philanthropy and to encourage similar contributions in future.
GABM’s equity grants towards global natural and humanitarian disasters are funded from the funds generated by the annual GABM associate membership fees.
By making these donations GABM also believe it will serve as an encouragement to other like-minded and prominent organizations to become good corporate citizens, as well as to support our ‘Let’s Do More Initiative’.
Depending on the nature and the geographical region of a natural or humanitarian disaster, GABM will donate funds to organizations like the Red Cross, United Nations and others to support large scale relief efforts. GABM also in certain cases allocate bank debit cards to victims directly to enable them to acquire emergency food, fresh water, blankets and tent shelters.
By making these donations GABM also believe it will serve as an encouragement to other like-minded and prominent organizations to become good corporate citizens, as well as to support our ‘Let’s Do More Initiative’.
Depending on the nature and the geographical region of a natural or humanitarian disaster, GABM will donate funds to organizations like the Red Cross, United Nations and others to support large scale relief efforts. GABM also in certain cases allocate bank debit cards to victims directly to enable them to acquire emergency food, fresh water, blankets and tent shelters.
