"Thiel recalled warning Musk that his wealth would go "to left-wing nonprofits that will be chosen by Bill Gates." Thiel then did the math: the probability of Musk's death in the coming year would effectively mean giving $1.4 billion to Gates."
""What am I supposed to do-give it to my children?" Musk responded, as Thiel recounted. "You know, it would be much worse to give it to Bill Gates.""
"Launched in 2010 by Bill and Melinda French Gates and Warren Buffett, the Giving Pledge invites the world's wealthiest individuals and families to publicly commit to giving away at least 50% of their wealth to philanthropy, either during their lifetimes or in their wills. Some of the signers include Bezos's ex-wife MacKenzie Scott (but not Jeff Bezos), Michael Bloomberg, Elon Musk, George Lucas, and Mark Zuckerberg. And Gates himself has given so much of his wealth away that $51 billion got wiped from his net worth earlier this year."
"Despite hundreds of billionaires signing the Giving Pledge, it doesn't necessarily mean they will do so. The pledge is a moral commitment rather than a legally binding contract-participants sign an open letter explaining their reasons for giving and can choose which causes and charities to support. In fact, a study found that only one set of living 2010 pledgers (Laura and John Arnold) have given away their wealth, according to the Institute for Policy Studies' 2025 report "The Giving Pledge at 15.""
Peter Thiel urged Elon Musk to opt out of the Giving Pledge, warning that Musk's wealth could flow to left-wing nonprofits chosen by Bill Gates. Thiel calculated that the probability of Musk's death in the coming year would effectively transfer about $1.4 billion to Gates. Musk responded that giving the money to his children was not preferable and that giving it to Bill Gates would be worse. The Giving Pledge, launched in 2010 by Bill and Melinda French Gates and Warren Buffett, invites billionaires to commit at least 50% of wealth to philanthropy but is a moral, nonbinding commitment. A 2025 Institute for Policy Studies report found only one set of 2010 pledgers had actually given away their wealth.
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