Lots of famously wealthy people give to charity, but Rowling gave so much that she actually changed her own status for a time.
She stopped being a billionaire.
According to Forbes, Rowling donated $160 in 2012. Combine that with the required taxes she paid and Rowling dipped below the billionaire benchmark.
Is JK Rowling Still a Billionaire?
Although her exact net worth remains unconfirmed, it is rumored to be back up around $1.2 billion. With Fantastic Beasts and Where to Find Them on the big screen, Pottermore, The Cursed Child, and all of Rowling’s adult novels, the increase isn’t surprising.
Neither is her giving, really. Rowling is no stranger to philanthropy, devoting time and money to her own foundation, Lumos, supporting medical research to fight Multiple Sclerosis, and helping single-parent families through an organization called Gingerbread.
Despite the ebb and flow of her wealth, Rowling is still the same woman who survived by the pen as a young, single mom scribbling in a coffee shop about a boy wizard.
When I read the first billionaire author, was giving away enough money to stop being a billionaire, I realized a title was never her end goal. Her actions proved that.
Would I do the same in her position?
Why Generosity Proves the Necessity to Build Wealth
Another great example of generosity from a leading lady in our society is Dolly Parton. The singer/songwriter with a net worth of $450 million made a pledge during the terrible Smoky Mountain fires in November 2016. The fires spread rapidly, killing at least 13 people, destroying 1000 structures in and around Gatlinburg, Tennessee, and causing 14,000 residents to evacuate.
Dolly Parton vowed to give $1000 to every family affected by the tragedy for six months.
Things like this put a whole different spin on why we should build wealth. Things like:
- Rowling’s philanthropic spirit.
- Parton stepping into a very difficult situation and providing an immediate need.
I once heard Dave Ramsey, author of The Total Money Makeover, ask an audience how much money they could give if they didn’t have any payments. It’s a valid question. One that led me to yank debt out of the driver’s seat and take back control of my finances.
I’m not wealthy like Dolly Parton or JK Rowling, but after reading these powerful testimonials of their generosity, I do want to live by their example. I think the less consumer debt we have, and the less we live paycheck to paycheck, the more we can give back.
So, is JK Rowling still a billionaire? It would appear so at the moment, but I wouldn’t put it past her to change that status again, especially if it meant changing the world.
As I said in last week’s article about traits for success among wealthy women from all walks of life, some choose their path; others rise to the occasion. What’s fascinating is what happens next – how they choose to live their life.’
For more on celebrities net worth, how they got there and what they’re doing with their money check out these articles.
What Is Tony Beets’ Net Worth?
What Is Jaclyn Hill’s Net Worth?
What Is Optic Nadeshot’s Net Worth?
If you could give $1 million to any charity, where would you send it?
Image Credit: Daniel Ogren (Creative Commons)
I never knew Dolly Parton did that, what an incredible gesture! Wonderful ladies like this really do restore my faith in humanity. I think it’s important to give back where you can, I’m a firm believer in the universe and good karma. Sometimes the smallest gesture can make the biggest difference!
Hi David! Yes, it was such a great feeling when I learned about Dolly Parton’s donation because it was moments after I heard that my childhood friend and her husband lost their house and car to the fire. That made it hit much closer to home and really makes me want to double my efforts toward healthy financial living so that I, too, can give in times of need. Thanks for sharing your thoughts!