Key Term

What is Giving Pledge?

Definition

The Giving Pledge is a commitment by some of the world's wealthiest individuals and families to dedicate the majority of their wealth to philanthropy. Launched in 2010 by Bill Gates, Melinda French Gates, and Warren Buffett, the initiative encourages billionaires to publicly commit to giving away at least half of their wealth to charitable causes during their lifetime or in their will.

Significance

The Giving Pledge has transformed the landscape of modern philanthropy by setting a new standard for ultra-high-net-worth giving and inspiring a culture of increased charitable commitment among the wealthy. It has mobilized hundreds of billions of dollars for charitable causes and sparked important conversations about wealth responsibility, effective giving, and the role of private philanthropy in addressing global challenges. The initiative has also helped normalize the concept of giving away the majority of one's wealth, influencing giving behaviors across different wealth levels and generations.