German billionaire Michael Gastauer committing $1.5 billion to set up Nature Fund

In the world of finance, where success is often measured in profits and market share, German billionaire Michael Gastauer emerges as a remarkable figure distinguished by philanthropy, animal welfare and environmental responsibility.

Starting as an entrepreneur and rising to become founder and CEO of Black Banx, Michael Gastauer’s journey underscores innovative mindset in the FinTech arena. While his financial achievements are globally recognized, it’s Gastauer’s commitment to making a positive and lasting impact on his global footprint that sets him apart.

With a net worth exceeding US$11.4 billion, the founder and CEO of Black Banx is also the

driving force behind one of the top 20 largest Single Family Offices worldwide, the Gastauer Family Office (GFO). In 2023, Gastauer ranked among the 10 Wealthiest Germans. Despite his enormous wealth, Michael Gastauer is not far from earthly problems such as our planet’s natural resources needing protection.

A distinctive aspect of Gastauer’s personality is his commitment to environmental stewardship. Like many others of his peer billionaire fellows, Gastauer decided to allocate a part of his fortune to create a special purpose fund helping to protect nature. With a commitment of $1.5 billion Michael Gastauer created the Gastauer Nature Fund in January this year. The Gastauer Nature Fund is addressing the problem to prevent the extinction of one million species and the collapse of our life support system, by protecting our intact wilderness and ensuring at least 30% of our land and oceans are protected by 2030. Currently, just 15% of land and 8% of our oceans are protected.

The UN Convention on Biological Diversity (CBD) Secretariat released the first official draft of a new Global Biodiversity Framework to guide actions worldwide through 2030 to preserve and protect nature and its essential services to people. The framework includes 21 targets for 2030 that call for, among other things:

At least 30% of land and sea areas global (especially areas of particular importance for biodiversity and its contributions to people) conserved through effective, equitably managed, ecologically representative and well-connected systems of protected areas (and other effective area-based conservation measures). This target is commonly referred to as 30×30.

Several countries and private organizations have made financial commitments. The European Union has committed €7 billion ($7.4 billion) for the period until 2027.

The Gastauer Nature Fund supports delivery of 30×30 in areas critical for carbon sequestration and biodiversity protection, through coalitions of NGOs, governments and local partners. As part of these efforts the Gastauer Nature Fund (GNF) provides financial support to local partners to secure land titles and strengthen guardianship of lands. Finally, the GNF supports efforts to monitor the progress and impact of protected areas.

Source: Business Insider