NEW: Providence Equity’s Nelson Signs Giving Pledge

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Tuesday, September 18, 2012

Stephanie Mangano, GoLocalProv Contirbutor

Providence Equity's Jonathan M. Nelson has joined Warren Buffett and Bill Gates in the pledge to dole out most of their wealth to charity.

Mr. Nelson, the founder of Providence Equity Partners is the latest to sign the Giving Pledge, the initiative announced today. That means that Nelson has committed to giving away at least half of his wealth to philanthropy.

"I always thought if I were lucky enough to be in a position to help others, I would," Mr. Nelson said in a statement. "The vast majority of Americans are this way. This is who we are."

Nelson's Providence Equity Partners was founded in 1989 and has become a major player in the business of investing in media and technology companies. Providence's previous deals include its having taken stakes in the Warner Music Group, Univision and Hulu.

Others announced alongside Nelson include: Reed Hasting, chief executive officer of Netflix; Romesh Wadhwani, founder of the Symphony Technology Gourp; Gordon Moore, co-founder of Intel; Charles R. Bronfman, formerly of Seagram Company; and Jorge M. Perez, chief executive officer of the real estate firm the Related Group.

The total number of families committed to the pledge is now 92, and includes previous signatories like Mark Zuckerberg of Facebook and David Rubenstein of the Carlyle Group.

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