Warren Buffett once predicted his big philanthropy experiment would unleash "trillions" for charity; 15 years later, some of the billionaires it targets are trying to kill it. In the New York Times, Theodore Schleifer charts the rise and stall of the Giving Pledge—Buffett and Bill and Melinda French Gates' 2010 effort to get the ultra-rich to promise to give away at least half their fortunes—and the sharper mood that's now meeting it.
New signers, who "are increasingly based overseas or are lower-profile," per Schleifer, have slowed. One backer (Coinbase's Brian Armstrong) who signed on in 2019 quietly withdrew in 2024, and another (Larry Ellison) publicly "amended" his commitment with an eye on giving to for-profit efforts. Peter Thiel says he's been urging fellow billionaires to unsign, dismissing the pledge as a "fake Boomer club."
Schleifer places the backlash in a broader shift: a Trump-era, tech-fueled skepticism of traditional philanthropy and a growing belief among some moguls that "giving back" happens through business or politics, not nonprofits. The founders still call the pledge a success—but even Melinda French Gates says many signers aren't living up to it. As Schleifer makes clear, there's no enforcement of that point. Buffett framed the pledge as a "moral" one, and the Giving Pledge doesn't keep tabs on how much its 225+ signers have given. Read the full story for more.
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