HOUSTON, Texas (KTRK) — Houston billionaires Rich and Nancy Kinder recently shared with ABC13’s Melanie Lawson their remarkable plan to donate an astounding 95% of their multi-billion-dollar wealth to charities. This announcement coincides with the Kinder Foundation’s launch of an $18.5 million expansion project for Emancipation Park, located in the heart of Houston’s historic Third Ward. Founded by former slaves in 1872, Emancipation Park holds a special place in the city’s heritage.
While the Kinders might not be household names to everyone, their impact on Houston is undeniable. The Kinder name is prominently displayed on numerous buildings and facilities throughout the city. With a net worth of $11.4 billion, according to Forbes, Rich and Nancy Kinder rank among the wealthiest couples in the nation. More importantly, they stand out as some of the most generous philanthropists, having donated hundreds of millions to local institutions and charitable causes.
Their ambitious philanthropic goal is to give away nearly all of their wealth — more than $10 billion — during their lifetimes and beyond. Rich Kinder, who played a pivotal role in building the oil and gas pipeline giant Kinder Morgan, stepped down as CEO over a decade ago to focus on what he calls a “bigger cause.”
“Well, I think we’d all like to leave the world a little better place than we found it,” Rich said. “And we just felt early on that the right thing to do was to try to give most or all of that away. So that’s what we plan to do during our lifetime and after our death.”
The Kinders have joined the ranks of other philanthropic leaders by signing a pledge established by billionaires Bill and Melinda Gates and Warren Buffett. “There were only, I think, 20 people when we joined,” Nancy recalled. “The first meeting was 20-something families or people, couples.” While the original pledge called for donating at least 50% of their wealth, the Kinders chose a significantly higher commitment: donating a whopping 95% through the Kinder Foundation.
Unlike many major donors who focus on global initiatives, the Kinders have chosen to concentrate their philanthropy close to home, honing in on specific priorities. “So we decided early on, our core principles would be that we would invest most of our philanthropy in Houston and then that we would try to concentrate on really three areas that we thought really needed help,” Rich explained. “That’s education and urban green space and then kind of a lump-it-all-in quality of life.”
One of their first major projects was developing Discovery Green, a vibrant park located among downtown Houston’s skyscrapers. The park was completed for roughly $25 million. Nancy describes parks as “the great equalizer.”
“It’s a melting pot of people, dogs,” she told ABC13. “Whenever you’re in a park, there’s one of everybody. And people are friendly, you know, you talk to the dogs. It’s just, it is our happy place in all of these parks.”
The Kinders’ generosity extends to numerous other green spaces across Houston. They have invested $8.5 million in Spark parks at schools, $34 million toward Buffalo Bayou Park, $12.5 million for Emancipation Park prior to this week’s donation, $2 million to Harmon Park, and a transformative $82 million (and counting) to build massive land bridges at Memorial Park.
Their philanthropy also supports education and the arts. They have contributed $77 million to fund the Kinder Institute for Urban Research at Rice University and nearly $86 million for a new modern art building at the Museum of Fine Arts, Houston.
Among their largest investments is a $150 million gift to create a new hospital dedicated to childhood cancer. This project unites two health care powerhouses: Texas Children’s Hospital and MD Anderson Cancer Center. Rich explained the decision: “When you couple MD Anderson with their tremendous Nobel Prize-winning research in cancer generally and Texas Children’s with their great background of knowing how to treat children, it’s just a tremendous combination.”
To date, the Kinders have donated more than $900 million to causes and organizations throughout southeast Texas.
Both Rich and Nancy Kinder came from modest backgrounds. Rich is originally from Missouri, and Nancy grew up in Louisiana before moving to Houston. Rich gets emotional reflecting on their commitment to giving back to the city they love.
“You have to be grateful for everything that this country has given us, you know. It’s not fashionable today to talk about this, but I think the ability to grow and become successful in this country is pretty unique,” he reflected. “You think, well, if it’s been good for us, why can’t we share some of this and be good for other people too.”
Nancy added, “I think some of the projects we’ve done here, I’m really proud of them, and I think they’ll last forever. So if I want our grandchildren to be proud of us — and I think they are — I want them to know that’s what we expect of them when they grow up. They have to give back, and it’s not all about us. They have to carry it forward.”
The Kinders say their philanthropy journey is far from over. They have invested millions in Houston’s historic Third, Fourth, and Fifth Wards, and now they are planning a $27 million renovation of McGregor Park.
With their extraordinary generosity and focus on improving Houston’s quality of life, Rich and Nancy Kinder continue to make a lasting impact on the city they call home.
https://abc13.com/post/houston-billionaires-rich-nancy-kinder-pledge-give-away-95-wealth-charities/18014421/