Should billionaires exist? A Zimbabwean perspective

Author: Lawrence Makaure, Founder, Midlands Conservation and Sustainability Initiative (MCSI)

Zimbabwe is a country with just one billionaire on the Forbes World's Billionaires list, compared to over 900 in the USA! If you asked adults across the rural and urban communities of Zimbabwe “Should billionaires exist?”, most would struggle to answer. That is because the current socio-economic issues are dominated by unemployment and poverty [1] and ordinary people are suffering. So, the arguments against billionaires may outweigh those justifying their existence. But a world without billionaires might be worse. This is not to say it is the billionaire’s responsibility to provide for the welfare of humanity and communities, or that they should not enjoy the fruits of their sweat, labour, and luck, as they please. No! But billionaires can through their goodwill, influence, and wealth, contribute to justice and fairness to humanity “as trustees for the poor, and thus dignifying their own lives” [2]. Just as it is written in the scriptures, “to whom much was given, much will be demanded of him,” implying that responsibility comes with privilege.

The wonderful works of notable figures such as Strive Masiyiwa, the Zimbabwean telecoms mogul, validates my conviction that we truly need billionaires in this world. A devout Christian and signatory of the Giving Pledge, which encourages billionaires to donate significant portions of their wealth to philanthropic causes, he has empowered orphaned and vulnerable children in Zimbabwe and beyond through education [3]. Through his Higherlife Foundation and Carpenaum Trust, he has supported half a million children with scholarships [4]. He has also done a lot more in the public health and entrepreneurship spaces, while creating employment for thousands through his companies. 

Poor maternal health and preventable diseases such as Malaria, HIV, and AIDS, which affect so many lives in developing countries like Zimbabwe, would have claimed many more victims were it not for the generous support of the American billionaires Bill and Melinda Gates who donate their wealth through their Foundation [5, 6, 7]. As a result, Zimbabwe runs a successful Prevention, Care, and Treatment program for HIV and AIDS today. The Gates’ wealth has also enabled 480 poor families in Harare to own low-cost houses [8]. These philanthropic initiatives by billionaires are truly commendable. And the truth is, the world today desperately needs billionaires with goodwill to achieve a fairer society. Through their wealth, they can save lives, alleviate poverty, maintain peace, reduce inequalities, improve education, promote civilisation, good health, and wellbeing. 
As of 2025, there are over 2900 billionaires globally, with a combined networth of $16.1 trillion [9]. With that said, a couple of questions keep coming to my mind. Considering that the Giving Pledge currently has only 255 signatories [10], how can we encourage more billionaires to sign it and commit to use their wealth and influence to create a fairer society? How can billionaires in the extractive industries contribute to ensuring fairness and environmental justice in mining communities like Shurugwi in Zimbabwe and anywhere else where environmental injustices are experienced? I am confident that our billionaires can step up to answer the call to action – let’s hope they will do just that.

Lawrence Makaure is a Development, Conservation, and Sustainability Practitioner, and Founder of the Midlands Conservation and Sustainability Initiative (MCSI). He is also a serving member in the Team Europe Youth Sounding Board for Zimbabwe and a 2025 WWF-Amano Fellow.

References

[1] Ray, C. A. (2025) Navigating Turbulent Waters: Does Zimbabwe have a Future?, Foreign Policy Research Institute
[2] Carnegie, A. (1889) The Gospel of Wealth.
[3] Perbi, Y. (2024) Strive Masiyiwa - Strife. Success. Significance
[4] Strive Masiyiwa 
[5] Bill Gates Foundation (2010) Bill Gates: World Has Historic Opportunity To “ Change the Face of Aids”  
[6] Jacob’s, L. (2001) GAVI and Vaccine Fund Approve Awards to 11 More Countries; 5 Year Commitments now Exceed $600 Million
[7] Fuller,J. (2002)  New Approaches Promote Shared Responsibility For Women and Men To Prevent HIV and Unplanned Pregnancy
[8] Chifera, I. (2015) Gates Foundation Wraps Up Harare Low Cost Housing Project , VoA Zimbabwe
[9] Peterson-Whithorn, C. , Chung, G. , and Durot, M. (2025) World’s Billionaires List: The Richest in 2025
[10] Pledger list on Giving Pledge