Giving Pledge

Spearheaded by Warren Buffett, Melinda French Gates and Bill Gates, the Pledge launched in August 2010 with 40 initial signatories from the United States. As of 2023, the Pledge had 241 signatories from 29 countries, most of whom are billionaires. 

The collective total of their pledges is estimated at approximately USD$600 billion. Pledgers cross multiple generations, from individuals in their 20s to those in their 90s. Besides the co-founders, some of the most notable pledgers—the colloquial name for signatories—include MacKenzie Scott, Mark Zuckerberg and Priscilla Chan, Azim Premji, Michael Bloomberg, Elon Musk and members of the Rockefeller and the Hilton families.

By signing the Pledge, individuals make a moral commitment to the greater good and publicly declare their philanthropic intent. Pledgers make this declaration by writing a letter stating their motivation for giving, areas of interest and personal stories about philanthropy. Those who choose to join also commit to actively participating in a community of like-minded philanthropists focused on shifting the norms around generosity by giving more and with greater intention. Learning events provide signatories with opportunities to share knowledge and lessons learned, and an annual summit invites all signatories to participate in an immersive multi-day event to hear from voices across the philanthropic sector. 

As the Pledge has grown, its vision has expanded to include multiple generations of philanthropists. Pledgers are encouraged to invite their children and other loved ones into conversations about giving. An offshoot of the Pledge provides separate learning and collaborative opportunities for next-generation philanthropists of Pledge signatories.   The Pledge receives both praise and critique. It is lauded for mobilizing enormous resources, inspiring more generosity among the ultra-rich, spurring multi-generational giving, and supporting innovative and effective initiatives by its signatories. Critiques primarily focus on the lack of transparency on how much signatories are giving and the perpetuation of wealth inequity and unbalanced power dynamics in philanthropy. 

The Pledge is not an oversight organization or grantmaker itself. Signatories donate to various causes through their choice of giving vehicles and decide whether to give while living or fulfill their commitment through their will. This lack of transparency has drawn criticism and questions about the Pledge’s ability to hold signatories accountable for giving and encourage more giving now to pressing issues. Some critics also argue that billionaire philanthropy gives too much power and influence to only a few individuals, which can distort how public policy and social issues are prioritized and resolved. The Pledge acknowledges these perspectives and critiques as the profile of its community grows and changes. 

Despite these critiques, the Pledge remains the unique convener for the world’s wealthiest who engage in philanthropy to help shift the social norms of philanthropy among the ultra-wealthy.

Contributor: Dion McDougal