The Giving Pledge was meant to turbocharge philanthropy. Few billionaires got on board. [View all]

Source: NBC News/CNBC

Aug. 7, 2025, 6:32 PM EDT / Source: CNBC


In June 2010, Bill Gates, Melinda French Gates and Warren Buffett started what could be described as the world’s most ambitious fundraising drive. After promising to give away the vast majority of their wealth, the trio asked their ultra-wealthy peers to pledge at least half of their assets to charity during their lifetimes or in their estates.

In two months, the Giving Pledge garnered signatures from 40 of America’s richest families and individuals to sign up. That first batch of pledgers, including Michael Bloomberg and David Rockefeller, was announced 15 years ago this week.

In the years since, the Giving Pledge has lost steam when it comes to enrollment. By the end of 2010, 57 signatories representing an estimated 14% of America’s billionaires had made the nonbinding commitment, according to a recent report by the Institute for Policy Studies. Currently, the pledge has commitments from 256 individuals, couples and families, including 110 American billionaires, per the progressive think tank. This group makes up 12% of the U.S. billionaire population as estimated by Forbes.

The annual number of sign-ups has also flagged since that first year. Even in 2020 when the pandemic spurred wealthy donors to give more, the Giving Pledge only earned 12 new signatories. This past May, the pledge welcomed 11 new members, a marked improvement over 2024′s record low of four.

Read more: https://www.nbcnews.com/business/personal-finance/giving-pledge-meant-turbocharge-philanthropy-few-billionaires-on-board-rcna223641