Arthur Blank Pledges to Give Away Most of His Fortune

Billionaire Arthur Blank has joined Bill Gates, Warren Buffett and other ultra-wealthy people in signing The Giving Pledge, a promise to donate most of their wealth to philanthropy.

The longtime Buckhead resident and owner of the Falcons signed the pledge Friday, according to the Atlanta Business Chronicle.

The effort is designed to encourage the world's wealthiest people to promise to donate most of their wealth to charitable causes.

In the letter he submitted with his pledge, Blank notes that he is approaches his 70th birthday, he feels:

"...more committed than ever to making a difference through philanthropy. The needs in our society are more profound than at any point in my lifetime. The gap between rich and poor in America is growing. Philanthropy alone cannot repair all of the social injustice in our country or the world. It can, however, inspire good will, spark innovation and provide thought leadership.

Blank, a co-founder of The Home Depot, is estimated to have a fortune of more than $1 billion. His family already runs The Arthur M. Blank Family Foundation to support charitable causes, including fighting childhood obesity and Georgia and supporting development of the Atlanta Beltline transit and parks project.

Do you think that wealthy people give back enough to their communities? Should more people take the pledge? Tell us what you think in the comments area below.