Self-made billionaire John Caudwell whose current net worth is around $2 billion, has pledged to give away most of his fortune.
The 72-year-old entrepreneur launched what would become Phones 4U with his brother Brian.
The pair sold it for a whopping $1.9 billion in 2006.
The philanthropist, who was brought up in Stoke-on-Trent, is among 250 billionaires globally to have signed ‘The Giving Pledge’.
This is a commitment to donate over half their fortune to charitable causes – either before or after death, the Mirror reports.
Elon Musk, Mark Zuckerberg and Richard Branson are also on the list alongside 237 other signatories.
Mr Caudwell said: “I’ve pledged 70 percent during and after my lifetime. It’s such a privileged position, but rich people don’t generally ‘get’ it.”
“They think I’m mad for giving my money away and for the time I dedicate to charitable causes.”
“But of those 250 of us that do—out of maybe 6,000—it’s our duty to try and make the world a better place. Helping those who can’t help themselves is a privilege, not a burden.”
The dad-of-seven also spearheads Caudwell Children for disabled kids and the mentoring charity Caudwell Youth.
Caudwell Children helps about 3,000 children each year, and in some cases completely transforms their lives; in others it makes their lives more bearable, while for for some, it can make their dying wishes come true.
He added: “There’s absolutely no value in wealth if you don’t do something with it that’s meaningful.”