Crescent Petroleum executive joins Giving Pledge initiative
Badr Jafr makes commitment to give away much of his wealth to charitable causes.
Badr Jafr, the CEO of the UAE based Crescent Enterprises, is among three UAE based businessmen who have joined the Giving Pledge created by Bill and Melinda Gates, and Warren Buffet, which seeks to attract the world’s richest philanthropists to give more than half their wealth to charitable causes either through their lifetimes or as a legacy, according to our sister publication Arabian Business.
Jafr, who is also the president of Sharjah’s Crescent Petroleum, has been joined by NMC Health and UAE Exchange founder BR Shetty and VPS Healthcare founder and managing director Shamseer Vayali.
In his pledge letter, Jafr stated, “Recognising the rapid generation shifts occurring in developing markets, including the Middle East, my philanthropic activities are built around this urgency to promote a culture of strategic high-impact philanthropy as an imperative for private resources to serve public good.”
Crescent Petroleum is the largest privately owned oil and gas producer in the Middle East and is also the largest shareholder in Dana Gas. It has operations in the Kurdistan Region of Iraq, the UAE and, via Dana Gas, Egypt.
Jafr’s brother Majid is the CEO of Crescent Petroleum and the firm recently won exploration/development rights for three new blocks in Iraq as part of its strategy to increase its production.