In 2010, Warren Buffet partnered with Bill and Melinda Gates to issue The Giving Pledge, which challenged the wealthiest Americans to give 50% or more of their wealth to charity. The pledge is not a contract; it is a moral commitment and is based upon Andrew Carnegie’s philosophy that “The man who dies rich, dies disgraced.”
Forty US billionaires have signed the pledge to date. The collective sum of their gifts could total $125 billion.
California hedge fund investor Thomas Steyer, who signed the pledge with his wife, Kat Taylor, had this to say:
“Right now, when I look around, I think business people and financial people are pretty widely mistrusted and seen as overwhelmingly self interested. But, I think that Warren and the Gates’ point is an emphatically different one. It is that business people are not just laboring for themselves or their families, but they have bigger responsibilities and belong to a bigger community.”
Click here to visit the official website for The Giving Pledge.