JK Rowling loses 'Billionaire' crown | books | Hindustan Times
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JK Rowling loses 'Billionaire' crown

books Updated: Mar 16, 2012 11:56 IST

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JK Rowling might have made it to the Guinness Book of World Records for being the 'First Billionaire Author', but she couldn't retain the title for long.

While Rowling's Harry Potter book series have sold over 400 million copies worldwide, her charitable nature and Britain's high taxes have brought her fall in the Forbes Billionaire list.

"New information about Rowling's estimated $160 million in charitable giving combined with tax rates bumped the Harry Potter scribe from our list this year," Forbes noted in its 'Billionaire Dropoffs' list," HuffingtonPost reports.

Rowling's life resembles a 'rags to riches' story as she progressed from an unemployed single mom to a multi-millionairewithin five years. Owing to her humble background she has continued to support various single parent charities.

According to  HuffingtonPost, "She supports One Parent Families, a nonprofit that empowers single-parent households, one of her favorite causes. The organization provides child-care services and helps parents discover new job and education opportunities. The writer also founded her own charity, Lumos, which helps institutionalized and disadvantaged children in Eastern Europe."