The founder of a collapsed private equity giant who took $100 million from Bill and Melinda Gates was just expelled from the Giving Pledge [Yahoo! Finance]
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Source: Yahoo! Finance
ultra-rich to donate the majority of their wealth to charitable causes, has booted an accused fraudster from its ranks. The Giving Pledge, the charitable donor network connected to the Gates Foundation, has just ousted one of its members. The erstwhile member is Arif Naqvi, a financier best known for founding Abraaj Group, a now-collapsed private equity firm based in Dubai. A spokesperson for the Giving Pledge confirmed Naqvi's removal from the group—which is voluntary to join—to the New York Times on Wednesday morning. The Giving Pledge , which was launched by Bill Gates, Melinda French Gates and Warren Buffett in 2010, counts some of the richest people across the globe as members. Naqvi, whose firm at its peak controlled $13.6 billion in assets, was among the wealthiest businessmen in the Middle East before a dramatic fall from grace that led to his arrest and fraud charges in 2019. Naqvi's is the third forced removal the Giving Pledge has executed since its founding. He was
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