"In 2010, Microsoft cofounder Bill Gates and his then-wife Melinda French Gates, along with fellow billionaire and Berkshire Hathaway CEO Warren Buffett, started the Giving Pledge: a movement encouraging billionaires to donate at least half of their wealth during their lifetimes or at death. More than 250 of the world's wealthiest have signed the pledge, but many have so far failed to live up to it."
"Treasury Secretary Scott Bessent on Wednesday also called the Giving Pledge a failure-but for different reasons. While he called it "well intentioned," Bessent said the pledge was "very amorphous" and claimed wealthy people made the commitment out of fear that the public would "come at it with pitchforks." But Bessant too pointed out that not many billionaires have actually delivered on their promise to donate their fortunes."
The Giving Pledge launched in 2010 to encourage billionaires to donate at least half of their wealth during life or at death. More than 250 wealthy people signed, but many have not fulfilled the commitment. Melinda French Gates said the signees have not given enough. Treasury Secretary Scott Bessent called the pledge well-intentioned but very amorphous and suggested some commitments stemmed from fear of public backlash, noting few billionaires delivered on promises. Warren Buffett said grand philanthropic plans proved infeasible and will pass most of his remaining $150 billion to his children's foundations, having already given more than $60 billion. Susan and Michael Dell seeded new "Trump Accounts" for children with a $6.25 billion donation.
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