The Giving Pledge Concepts

Billionaire, Nerd, Savior, King: Bill Gates and His Quest to Shape Our World

by Anupreeta Das · 12 Aug 2024 · 315pp · 115,894 words

Carnegie, the nineteenth-century steel magnate and another of the era’s robber barons. One of the most significant outcomes of their philanthropic partnership was the Giving Pledge, an unusual and highly publicized effort in 2010 by the two men, along with French Gates, to get other billionaires thinking about charitable giving. Billionaires

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at least half of their wealth to philanthropy, either during their lifetimes or at death. Coming as it did right after the 2008 financial crisis, the Giving Pledge was morally compelling—America’s wealthiest wanted to give back to society. But it was also a nonbinding commitment, effectively impossible to enforce or track

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in popular culture and invoked in defense of the free market that has made the United States the richest country in the world. In signing the Giving Pledge, the initiative launched in 2010 by Buffett, Gates, and French Gates to encourage their fellow billionaires to commit to giving at least half of their

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playing an outsize role in global health and development, supercharged by Buffett’s decision in 2006 to turn over billions of dollars to its endowment. The Giving Pledge, the campaign started by Gates and Buffett in 2010 to get more billionaires to engage with philanthropy, put him on an even higher pedestal, coming

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to giving away at least half of their wealth to charitable causes during their lifetimes or in their wills. The highly publicized pressure campaign, called the Giving Pledge, was meant to get the billionaire class thinking more deeply about philanthropy. The idea had come about after a small group dinner for about seven

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their attitude toward charity, and the problem of how much to leave their heirs. It took two hours to go around the table. Even before the Giving Pledge, the tie-up between Buffett and Gates had already roused a lot of interest among other billionaires, many of whom reached out to the foundation

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“giving while living.” He died in 2023. Gates has said of Feeney: “Chuck has been a beacon to us for many years; he was living the Giving Pledge long before we launched it.”14 Buffett and Gates conducted what was essentially a get-out-the-vote campaign to mobilize other billionaires to sign

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by scolding people,” he said once. “We’re trying to complement that by showing people how much fun it can be.” If the intention of the Giving Pledge was noble, its timing was fortuitous. The financial crisis of 2008 had ravaged the economy, plunging it into the Great Recession. People were seething at

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, there were five—the lowest numbers since the campaign began. Their letters, carefully worded and posted for all to see on a website dedicated to the Giving Pledge, follow a similar pattern, in keeping with the guidance Buffett had initially provided about the themes to address. Some billionaires describe how they got their

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how he initially resisted signing, but his thinking had evolved over time. “I have evolved/aged.” Feeney, whose philanthropy had served as an inspiration for the Giving Pledge, wrote a letter in 2011 although he had already given much of his wealth away by then. He encouraged billionaires not just to give money

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of what signatories may consider a socially desirable account of their generosity,” Hans Peter Schmitz and Elena M. McCollim write in their 2021 study of the Giving Pledge letters.16 The authors call it a tale of good intentions with no ability for others to follow through on whether anything has been delivered

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. In the more than thirteen years since the Giving Pledge was launched with much fanfare, the public conversation around economic inequality has only become more trenchant and the exponential increase in billionaire wealth has come

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which was to prompt billionaires to think more systematically about giving and engage with their ilk to learn about approaches to philanthropy. The website of the Giving Pledge underscores that it is not legally binding, and it is not a platform that holds people accountable to their words. The campaign is also clear

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actually moved. Instead, a big chunk of the money pledged is lodged in foundations or inside donor-advised funds, he said. An outspoken critic of the Giving Pledge, Dorfman allowed for the fact that the practice of philanthropy has gotten more sophisticated in the past decade or so. But he took the view

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billionaires are going to give money away, then we don’t have to change policy to get them to do it.” A 2020 study of the Giving Pledge by the Institute for Policy Studies, a progressive think tank, pointed out another loophole: As billionaire wealth has grown, the charitable deductions billionaires can take

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money away wisely and effectively. David Friedman, who cofounded Wealth-X, a platform that sells data to companies that target the ultrawealthy, said that when the Giving Pledge was announced and a lot of people committed to it, they didn’t really think about the implementation side of things. As a result, Friedman

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said, the Giving Pledge is “basically stalled.” Signatories of the pledge whose donations can be tracked appear to have given much of their money to traditional causes, including university

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endowments and research, rather than toward big transformative social change. Some of the richest Americans, including Bezos, Ballmer, Page, and Brin, had sidestepped the Giving Pledge as of 2023, although each engages in some philanthropy. Nike’s Phil Knight and Starbucks’ Howard Schultz were also among those who didn’t feel

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to be charitable, but don’t want to be held accountable by signing the pledge, in case they change their minds. Thus, the loopholes of the Giving Pledge are so numerous as to make it almost meaningless. Those more sympathetic to the impetus for the pledge say it should be measured not in

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children resonated with a lot of potential donors. It also resonated with multimillionaires—the thousands of people with tens or hundreds of millions sitting around. The Giving Pledge has fed the growth of the philanthropic advisory industry in the past decade or so, because many wealthy people who want to be generous and

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helps the wealthy build foundations and identify the best-run nonprofits where their donations can make the most impact. “I was skeptical about how much the Giving Pledge would do, but it has fostered collaborative giving,” said Joel L. Fleishman, the Duke University professor who has studied the campaign closely. “Those who have

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. “Other institutions such as Indiana University tried to bring wealthy individuals together for confidential sessions but never succeeded in doing it. The few members of the Giving Pledge I know have told me with considerable enthusiasm that they get to talk with the big givers, and they value it.” Over time, the pledge

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billionaires looking for ways to “do” better philanthropy. There is an annual two-day conference hosted by the organization that was set up to run the Giving Pledge campaign, at which billionaires and their representatives come together to discuss themes, exchange ideas, and strategize with philanthropy experts about the most effective methods of

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the lives and schedules of family members as they crisscrossed the world for work and leisure. Those in the philanthropic advisory business also say that the Giving Pledge has had a bigger impact on billionaires outside the United States than they expected. Melissa Berman, who launched Rockefeller Philanthropy Advisors, a nonprofit, in 2002

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has even encountered those who would exaggerate their net worth to be able to sign the pledge. The most measured assessment of the impact of the Giving Pledge came from Buffett himself. “There’s been more money that has been contributed by the members than they otherwise would have contributed though this is

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, and her emergence as an independent philanthropist, had been visible in other ways. In 2010, when the former couple, along with Warren Buffett, had announced the Giving Pledge campaign, she and Gates had written a letter jointly, pledging to give most of their shared fortune to the Gates Foundation. But after their divorce

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, McGoey takes aim at philanthrocapitalism and, in particular, Gates, for his role in “shifting the global discourse on philanthropy in recent decades.” Through initiatives like the Giving Pledge, McGoey writes, Gates offers a “powerful antidote” to critics who point to the widening global wealth gap, because he and other billionaires can always say

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. Indian billionaires like Nandan Nilekani, a cofounder of the IT giant Infosys who helped the government build a biometric ID system called Aadhaar, have signed the Giving Pledge. With private philanthropy slowly becoming a more professional undertaking, criticisms of the big philanthropy of Gates haven’t yet reached the country, Srinath said. In

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tapped into the general feeling among billionaires that governments are inefficient, and that philanthropy can be nimble where the public sector is lumbering. By creating the Giving Pledge with Buffett, Gates also gave the extremely wealthy an opportunity to make public and moral commitments about giving away their fortunes—without any real accountability

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security, and making sure everything worked smoothly.” Chapter 9 Cancel Bill The Toxicity of Epstein When Warren Buffett, Bill Gates, and Melinda French Gates announced the Giving Pledge in June 2010, publicly committing to giving at least half their wealth back to society during their lifetimes or in their wills and urging other

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island in the U.S. Virgin Islands, Epstein conducted his business and was welcomed by those he courted, his sordid background reduced to a footnote. The Giving Pledge had created an enormous splash. The star power of two of the richest and weightiest billionaires made the effort hard to ignore. Buffett’s commitment

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Fortunes Stirs Debate,” The New York Times, November 10, 2010. 16. Hans Peter Schmitz and Elena M. McCollim, “Billionaires in Global Philanthropy: A Decade of the Giving Pledge,” Society 58, no. 2 (2021): 120–30. 17. Calculations by the author. 18. Warren E. Buffett, “Comments by Warren E. Buffett in Conjunction with His

Rich White Men: What It Takes to Uproot the Old Boys' Club and Transform America

by Garrett Neiman · 19 Jun 2023 · 386pp · 112,064 words

calling me lucky”12—but most rich men I know factor in luck. When I reviewed the two hundred letters written by billionaires who signed the Giving Pledge—an initiative started by Bill Gates and Warren Buffett that asks the world’s wealthiest individuals and families to dedicate at least half of their

The Bill Gates Problem: Reckoning With the Myth of the Good Billionaire

by Tim Schwab · 13 Nov 2023 · 618pp · 179,407 words

away most of their fortunes, more than $150 billion combined. Mark Zuckerberg has made similar claims, as have hundreds of other super-wealthy signatories to the “Giving Pledge” the Gates Foundation created to expand billionaire philanthropy. Counterintuitive as it sounds, the prospect of hundreds of billions—or even trillions—of dollars in philanthropic

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Trust, the Bill & Melinda Gates Medical Research Institute, Gates Ag One, bgC3, Gates Ventures, Pivotal Ventures, Breakthrough Energy, Gates Policy Initiative, Exemplars in Global Health, the Giving Pledge, Global Grand Challenges, the Global Good Fund. Working at turns through their private wealth and through the foundation’s endowment, the Gates family has a

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, where is Bill Gates’s big accomplishment? Microsoft Windows? A collection of exaggerated claims around the lives he has saved, undergirded by research he funded? The “Giving Pledge,” his bullying effort to push more of his billionaire peers into philanthropy? Gavi, his complex procurement mechanism that, essentially, fund-raises money from governments to

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/profiles/melinda-f-gates/; Forbes real-time net worth, Forbes, https://www.forbes.com/profile/melinda-french-gates/?sh=75c3eedc2fcc. “Giving Pledge”: Melinda French Gates, “The Giving Pledge,” https://www.givingpledge.org/pledger?pledgerId=428. charity unburdens governments: Gallup, “Percentage of Americans Donating to Charity at New Low,” Gallup.com, May 14, 2020

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2.0,” 60 Minutes, CBS, May 21, 2013, https://www.cbsnews.com/news/bill-gates-climate-change-disaster-60-minutes-2021-02-14/; Charlie Rose, “The Giving Pledge,” 60 Minutes, CBS, March 27, 2016, https://www.cbsnews.com/news/60-minutes-giving-pledge/; Scott Pelley, “Why Bill and Melinda Gates Put 20,000

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, Polio Eradication and Its Discontents. “surrendered by a donor”: McGoey, No Such Thing as a Free Gift. give away the majority of their wealth: “About the Giving Pledge,” n.d., https://givingpledge.org/about. ten thousand workers: Tiffany Ap, “Jeff Bezos’s Plan to Give Away His Fortune Won’t Help the 10

No Such Thing as a Free Gift: The Gates Foundation and the Price of Philanthropy

by Linsey McGoey · 14 Apr 2015 · 324pp · 93,606 words

his foundation is that no other public figure has been more influential in shifting the global discourse on philanthropy in recent decades. Through initiatives like the Giving Pledge – Gates and Buffett’s exhortation to their fellow billionaires to give at least 50 per cent of their fortunes to charity – Gates offers a powerful

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Gates for not donating enough of his personal fortune to charity – just as today Gates and Buffett chastise fellow billionaires for their reluctance to sign the Giving Pledge, a commitment to donating at least half of one’s wealth during one’s lifetime. Things changed dramatically in 2000, when the Gates Library Foundation

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: and Berkshire Hathaway, 173, 216; and Coca-Cola, 173, 222; as a donor to African farming programmes, 216; and Gates Foundation, 8, 173, 174; and the Giving Pledge, 24, 117; and Goldman Sachs, 215; and philanthropy, 24, 26, 146 Bush, George H. W., 33, 116 Bush, Jeb, 132–3 Bzdak, Michael, 97 Canada

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, 154, 155, 157, 159; and focus on Africa, 223–4; fortune of, 9, 177, 183; and funding for Purchase for Progress programme, 207–8; and the Giving Pledge, 24, 117; and global health issues, 177, 192; as head of Gates Foundation, 21, 107, 244; and home in Seattle, WA, 134, 245–6; and

Amazon Unbound: Jeff Bezos and the Invention of a Global Empire

by Brad Stone · 10 May 2021 · 569pp · 156,139 words

might have explored the creation of a second class of stock the year before. She also retained their Seattle and L.A. homes and signed the Giving Pledge, a commitment to give away more than half her wealth. Over the course of 2020, she would donate almost $6 billion to organizations like food

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to various Black colleges and women’s and LGBTQ rights groups, and then by getting remarried to Seattle chemistry teacher Dan Jewett, who also signed the Giving Pledge. The juxtaposition with her ex-husband’s incipient philanthropic efforts was stark. Over the fall of 2020, Bezos and Lauren Sanchez started videoconferencing with climate

MONEY Master the Game: 7 Simple Steps to Financial Freedom

by Tony Robbins · 18 Nov 2014 · 825pp · 228,141 words

of who Ray is. Which is why I wasn’t the least bit surprised to learn later that he and his wife, Barbara, have signed the Giving Pledge—a commitment by the world’s wealthiest individuals, from Bill Gates to Warren Buffett, to give away the majority of their wealth through philanthropy. DO

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. I want to change the rules so that the CEO and boards are truly accountable to their shareholders. TR: You and your wife have signed the Giving Pledge. What other types of philanthropy are you most passionate about? CI: I give a lot, but I like doing my own thing. I just put

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of large-scale philanthropy with his $1 billion pledge to the United Nations. Since then, Bill Gates and Warren Buffett have joined forces to create the Giving Pledge to inspire the world’s wealthy to leave at least half of their fortunes to charity. At last count, more than 120 billionaires had signed

The Key Man: The True Story of How the Global Elite Was Duped by a Capitalist Fairy Tale

by Simon Clark and Will Louch · 14 Jul 2021 · 403pp · 105,550 words

to Bill at the top of rich lists, announced he was giving most of his fortune to the Gates Foundation. Bill and Warren also founded the Giving Pledge to encourage other billionaires to give away at least half their wealth. Healthcare was at the heart of Bill and Melinda’s mission. “Our work

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Arif’s complaints. Back at the Gates Foundation more executives gathered to discuss how to respond. Arif was a self-proclaimed philanthropist, a signatory of the Giving Pledge, and an important partner in Bill Gates’s quest to build a better world. Was he really a fraudster and a thief? Andrew’s bosses

Radicals Chasing Utopia: Inside the Rogue Movements Trying to Change the World

by Jamie Bartlett · 12 Jun 2017 · 390pp · 109,870 words

://lifemag.org/article/10-things-we-learned-from-liz-parrish-s-reddit-ama. 15. Of the nineteen tech entrepreneurs or investor billionaires who have signed the Giving Pledge to donate half their wealth, at least half are financing healthcare and medical research. Ben Popper, ‘Understanding Calico: Larry Page, Google Ventures, and the quest

The Third Pillar: How Markets and the State Leave the Community Behind

by Raghuram Rajan · 26 Feb 2019 · 596pp · 163,682 words

muting its applause for the captains of industry who only accumulate, while increasing it for those who distribute wisely. Indeed, this already seems underway with the Giving Pledge, where billionaires across the world have pledged to give away at least half their wealth. Even if values do not change, the feared outcome of

The New Tycoons: Inside the Trillion Dollar Private Equity Industry That Owns Everything

by Jason Kelly · 10 Sep 2012 · 274pp · 81,008 words

wealth generated by realizing that vision has turned Rubenstein into one of the more prominent philanthropists during the past decade. He’s a signee of the Giving Pledge, the movement founded in 2010 to get wealthy people to commit to giving away at least half their money. Created by billionaires led by Warren