Richard Branson announces he's donating half of his $4 billion fortune to charity

Airline billionaire Richard Branson has announced a new departure - from his fortune.

The British business mogul and founder of Virgin Records and Virgin Atlantic Airways has vowed to give at least half of his $4 billion wealth away to charity.
He made the plan official by signing the Giving Pledge, a philanthropic initiative started by U.S. billionaires Warren Buffet and Bill and Melinda Gates in 2010, the elite club confirmed.
"'Stuff' really is not what brings happiness. Family, friends, good health and the satisfaction that comes from making a positive difference are what really matters," Branson said in a statement announcing the generous promise.

"Happily our children, who will be our principal heirs, agree with me on this," he said, referring to daughter Holly, 31, and son Sam, 26.
He said money taken out of his Virgin Group holdings will be invested in "collaborative" charities that work with business and governments to "create a healthy, equitable and peaceful world."
"This makes individuals sit up and think," he wrote on his blog. "Hopefully, the vast majority will realize there are better ways of using wealth than leaving it to future generations."
The maverick magnate with shaggy blond hair and a matching goatee said he hopes to help the Gates-led group add even more international billionaires to its ranks.
Famous for his daredevil stunts, his private Caribbean island and his quest to send paying civilians - including aspiring astronaut Ashton Kutcher - into sub orbital space, Branson headlined a group of a dozen overseas billionaires announced as new Giving Pledge signatories Tuesday.
The new members include mining billionaire Patrice Motsepe from South Africa and software tycoon Azim Premji from India.
"I am excited about the conversations and ideas that will happen thanks to this impressive group of international philanthropists. In many cases, their perspectives on giving will be informed by living much closer to the areas of greatest need," Bill Gates said in a statement.