All articles tagged with #giving pledge
Originally Published 1 month ago — by Fortune
Scott Bessent criticizes the Giving Pledge as amorphous and promotes the new Trump Accounts initiative, which aims to give every U.S. child a $1,000 investment to foster financial literacy and a stake in the economy, viewing it as a more concrete and impactful form of philanthropy to address economic inequality and system disengagement.
Originally Published 2 months ago — by Fortune
Warren Buffett, acknowledging his earlier philanthropic plans were unfeasible, is now leaving most of his $150 billion fortune to his three children’s foundations, giving away about $500 million annually, and plans to retain a significant stake in Berkshire Hathaway until his successor is settled, raising questions about the future of The Giving Pledge and billionaire philanthropy.
Originally Published 2 months ago — by Fortune
Billie Eilish urged billionaires to donate their wealth to good causes during an awards event, highlighting the disparity between her own modest net worth and that of billionaires like Mark Zuckerberg, who was present but did not visibly respond to her plea. Eilish announced her own donation of $11.5 million to climate and food insecurity initiatives, while Zuckerberg and others have signed the Giving Pledge to give away most of their wealth, though actual follow-through remains limited.
Originally Published 5 months ago — by CNBC
The Giving Pledge, launched in 2010 by Buffett, Gates, and French Gates to encourage billionaires to donate most of their wealth, has seen declining participation and impact over the years, despite the growing number of billionaires worldwide and alternative philanthropic approaches like impact investing. While some view it as influential in shaping wealth-related giving norms, others see it as unfulfilled, with few signatories fulfilling their commitments, though new efforts and changing attitudes among the wealthy continue to evolve the landscape of philanthropy.
Originally Published 1 year ago — by Yahoo Finance
Marie Dageville, who became a billionaire after Snowflake's IPO, emphasizes the importance of starting to give away wealth, challenging the notion that it's difficult. Despite initiatives like the Giving Pledge, which encourages billionaires to donate half their fortunes, many face structural and emotional barriers. These include finding the right philanthropic vehicles and dealing with family dynamics. Experts suggest viewing philanthropy as a diversified portfolio to mitigate these challenges. Dageville trusts nonprofits to allocate funds effectively, advocating for general operating grants.
Originally Published 1 year ago — by The Times of India
OpenAI CEO Sam Altman has pledged to donate the majority of his $1 billion wealth to charitable causes, joining other billionaires in the Giving Pledge initiative. Altman, who was briefly removed and then reinstated as CEO, aims to focus his philanthropy on technology that benefits humanity, aligning with his mission at OpenAI.
Originally Published 1 year ago — by Newser
OpenAI CEO Sam Altman has joined the Giving Pledge, committing to donate over half of his fortune to philanthropy. Altman, who co-founded OpenAI as a nonprofit research lab, aims to focus his giving on technology that benefits humanity. The Giving Pledge, founded by Bill Gates, Melinda French Gates, and Warren Buffett, encourages the world's wealthiest to address urgent global issues through charitable donations.
Originally Published 1 year ago — by The Associated Press
OpenAI CEO Sam Altman has joined the Giving Pledge, committing to donate over half of his $1 billion fortune to philanthropic causes, focusing on technology that benefits humanity. This decision follows a turbulent period for Altman, including his brief removal and reinstatement as CEO. The Giving Pledge, founded by Bill Gates, Melinda French Gates, and Warren Buffett, aims to encourage the world's wealthiest to donate the majority of their wealth to address urgent global issues.
Originally Published 1 year ago — by CNN
OpenAI CEO Sam Altman and his husband Oliver Mulherin have signed the Giving Pledge, committing to donate most of their wealth to philanthropic causes. Altman, worth at least $2 billion, joins over 245 other signatories in this moral commitment initiated by Warren Buffett and Bill and Melinda French Gates. The pledge aims to inspire discussions and actions on charitable giving.
Originally Published 1 year ago — by Fortune
MacKenzie Scott, ex-wife of Jeff Bezos, has trimmed her stake in Amazon by $10.4 billion, now owning about 1.9% of the tech giant. Despite her fortune being primarily tied to Amazon, she has donated over $16.5 billion to various charities since her divorce, following her commitment to the Giving Pledge. Her philanthropic efforts have benefited more than 360 organizations, with a total of $2.15 billion donated in the past year.
Originally Published 1 year ago — by CNN
MacKenzie Scott, the ex-wife of Amazon founder Jeff Bezos, has sold over $10 billion worth of Amazon shares in the past year, following her divorce settlement which left her with about 4% of the company's outstanding shares. She has donated billions to charity and signed the Giving Pledge, while Bezos, who retained the voting rights to her shares, has disclosed an 11.5% stake in the company. Despite her significant charitable contributions, Scott's net worth remains over $37 billion.
Originally Published 2 years ago — by Fortune
MacKenzie Scott, the ex-wife of Amazon founder Jeff Bezos, has donated $2.15 billion to various nonprofits over the past year, bringing her total donations to $16.5 billion since her divorce in 2019. Scott, who does not donate through a foundation, has given to 360 organizations, including legal-aid clinics and community health nonprofits. She signed the Giving Pledge in 2019, committing to donate the majority of her wealth, and stated that she will continue to give until "the safe is empty."
Originally Published 2 years ago — by USA TODAY
Warren Buffett, the world's sixth-richest person, has donated $4.6bn of stock from Berkshire Hathaway to philanthropic causes, including $3.5bn to the Bill and Melinda Gates Foundation. Since 2006, Buffett has given away $51.5bn, making him the most generous philanthropist in America. Despite his donations, Forbes estimates his wealth at over $100bn, more than twice what it was 17 years ago, thanks to a 450% increase in Berkshire Hathaway shares. Buffett has pledged to donate nearly all of his fortune to charity and his total donations could eventually exceed $160bn.
Originally Published 2 years ago — by Fox Business
Warren Buffett donated over $3.5 billion worth of Berkshire Hathaway shares to the Bill & Melinda Gates Foundation and other charities, bringing his total charitable donations to over $50 billion. The donations included 10.45 million Class B shares to the Gates Foundation and 3.2 million shares to four other nonprofits. Buffett has already donated more than half of his Berkshire stock and plans to donate more than 99% of his estate to philanthropic causes.
Originally Published 2 years ago — by Reuters
Warren Buffett has donated $4.64 billion of Berkshire Hathaway stock to five charities, bringing his total giving since 2006 to over $51 billion. The annual donation is Buffett's largest and includes 10.45 million shares to the Bill & Melinda Gates Foundation, 1.05 million shares to the Susan Thompson Buffett Foundation, and 2.2 million shares split evenly among charities led by his children. Buffett is gradually giving away nearly all of his fortune and has already donated more than half of his Berkshire stock. He and Bill Gates pioneered the Giving Pledge, in which more than 240 people committed at least half of their wealth to philanthropy.