His giving began long before Microsoft's Bill Gates and investor Warren Buffet earlier this year pledged to give away at least half of their multibillion-dollar fortunes.
Huntsman, founder of global chemical manufacturer and marketer Huntsman Corp., then took that announcement a step further, according to Forbes.
"His take was that his peers need to step up," the article, published on Monday, said. It quoted Huntsman: " It becomes a game to see how much you can accumulate. They [captains of industry] never have the joy of seeing the thankful tears of a cancer patient or seeing a kid go to college."
Huntsman's major giving goes back as far as 1992, when he was diagnosed with prostate cancer. En route to the hospital, he left a $1 million check at a homeless shelter. Another $1 million check went to a soup kitchen, followed by $500,000 to the clinic that found the malignancy.
Ultimately he created a cancer foundation, pouring in more than $1 billion. The Huntsman Cancer Institute, based at the University of Utah Health Sciences Center, grew out of that.
Forbes writes that his donations last year "knocked him off the Forbes 400 list of wealthiest individuals — his net worth listed in Monday's article was less than $1 billion, at $900 million - "but a run-up in his company stock should put his net worth near $1 billion again this year."
"He says he plans to give it all away before he dies," the article said.
Huntsman's philosophy, according to Forbes: "The time to give away money is when you make it. "
In 2001, Huntsman was presented the Entrepreneur of the Year Award. In 2003, he received the Humanitarian of the Year Award. In November 2008, the American Cancer Society presented him its Medal of Honor for Cancer Philanthropy.
Other notable causes include: Sigma Chi; his support of The Wharton School, in recognition of which one of the school's signature buildings, Huntsman Hall, was named in his honor and he serves as Chairman of the Wharton Board of Overseers; the University of Utah, which named its special events arena after him; a new law library at Brigham Young University, which at his request was named after Howard W. Hunter; notable family philanthropy in earthquake ravaged Armenia and a new library at Southern Utah University, which he also requested be named after someone else (retiring SUU President Gerald R. Sherratt).
Huntsman authored and published the book Winners Never Cheat: Everyday Values We Learned as Children (But May Have Forgotten) in 2005, published by Wharton School Publishing. In the book, Huntsman conveys moral lessons drawn from his life experience. The second edition, titled Winners Never Cheat: Even in Difficult Times, made the Wall Street Journal's best-sellers list.
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