Large-Scale Philanthropy: Billionaires Take Buffett’s Giving Pledge

Large-Scale Philanthropy: Billionaires Take Buffett’s Giving Pledge

For most of us, determining how we could spend a billion dollars is just conjecture.

But what if it were reality?

For people such as Warren Buffett and Bill Gates, it is.

Those with a social conscience will be happy to hear the news: a handful of the world’s richest people will be donating half of their fortunes to charity.

Buffett Mined Forbes List For Donors

Buffett pioneered the project by calling “current and former members of the Forbes 400 list,” according to Forbes. They weren’t social calls, however: Buffett asked nearly one hundred of the world’s wealthiest to publicly commit to donate half of their fortunes to charity, and 40 agreed.

The Giving Pledge Could Contribute About $60 Billion

The donors’ contributions won’t be strictly regulated. Instead, they’ll be encouraged to give to the organizations of and in the manner of their choice. Market Watch reports that the project is known as The Giving Pledge, and that each person who joins must declare their intention publicly and with a letter explaining why they agreed. The ultimate contribution is estimated to amount to about $60 billion.

Billionaires Aren’t The Only Philanthropists

The freedom to donate millions of dollars to worthy causes (and let’s face it, aren’t they all?) is intoxicating, and it’s a hard landing back in reality when we realize that we can’t give our pet charity that kind of cash. But just because we can’t throw a cool million their way doesn’t mean that we can’t make a difference in accordance with our means. Voluntourism has gained popularity as of late, and there are a ton of easy ways to donate to charity without spending a dollar. Every drop in the bucket doesn’t have to overflow.


Financial planning made simple.

Get your free financial assessment.

Related Tags

Get the latest in your inbox.

Subscription failed!

You're Now Subscribed!