Upon personal exit from any entity that I found, I have pledged to give at least the following proportion of my exit to charity:
- 10% of the first £1M
- 50% from £1M to £5M
- 75% of anything over £5M
Note that these give a lower bound to the amount that I obligate myself to at the point of exit, and I intend to give more depending on my personal financial situation at the time.
Why the low first bracket?
At the time of writing, the main barrier to entry to start a company in my life has been the financial overhead of doing so. By setting a low percentage for the first £1M, the intention is to allow myself high mobility to ‘go around again’ when I exit, hopefully increasing the expected value