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What did Cat Stevens do with his money?

Published in Philanthropy 2 mins read

Cat Stevens, known for his impactful music, notably donated a significant portion of his wealth to the United Nations Educational, Scientific and Cultural Organization (UNESCO).

The Context of His Donation

In 1973, Cat Stevens made a move to Rio de Janeiro, Brazil. This decision was primarily driven by his status as a tax exile from the United Kingdom. While living in Brazil, a period during which he also created the album Foreigner, his financial decisions took a philanthropic turn.

Instead of retaining the wealth from his successful career, he later chose to dedicate a substantial amount of his earnings to a global cause.

The Beneficiary: UNESCO

The funds that Cat Stevens accumulated and subsequently chose to give away were donated to UNESCO. This organization is dedicated to promoting peace and security through international cooperation in education, sciences, and culture. His contribution supported their mission and various initiatives worldwide.

This act highlighted a significant shift in his focus, moving beyond personal financial management to broader humanitarian and cultural support.

To summarize the key actions concerning his money during this period:

Year Action Context/Outcome
1973 Moved to Rio de Janeiro Became a tax exile from the United Kingdom
Later Donated his money Contributed to UNESCO's global efforts

This philanthropic gesture reflects a period of significant personal and spiritual transformation for the artist.