I’ve been advocating for years that Fortune magazine publish an annual list of the top 100 philanthropists just as it lists the 100 richest people.

This list should be published at the start of the holiday season, thus stimulating a competitive urge to be on top of another list. In the process, this new opportunity to compete could do a lot of good in the world.

Scientists are learning that giving money away makes people happier. Since we learned long ago that having more money doesn’t automatically make people happier, perhaps giving it away will have the desired effect.

A new book ‘Gross National Happiness’ by Arthur Brooks, compiles the numbers from different polls in different cities and confirms what many small time donors like me have long believed: Giving feels good.

“People who give money to charity are 43 percent more likely than non-givers to say they are happy,” he writes. “ And volunteers are 42 percent more likely to be happy than non-volunteers.” Brooks explores the scientific evidence to show that volunteers get a “helper’s high” through the production of endorphins in the brain and a lowered level of the stress hormones that cause unhappiness.

I’d like to think that the wealthy would engage in philanthropy even if it didn’t make them happier.

Take multi billionaire Larry Ellison, founder of Oracle Systems.

Better known for his homes,yachts, airplanes and his ongoing one-upmanship game with Bill Gates, Ellison announced two years ago that he too is throwing everything away to become a philanthropist.

Asked if this was in response to pressure from the business community to follow in the footsteps of Bill Gates and Warren Buffett, Ellison said that he saw the future in charity work .

“I’m heading to South America where I can make a difference and sail my yacht in a number of the main races off the coast as well,” Ellison said. “With the investment that I make in South America as one of the sole players, I will be able to shoot out in front as the best IT (internet technology) philanthropist in the financial years 2009/2010. I’m clearly going to be in front.”

And that could make Larry Ellison really happy. Maybe.

This entry was posted on Saturday, November 1st, 2008 at 8:19 am. Visit the archives for all blog posts.