The 'Giving Pledge' Warren Buffett, Bill Gates Launched To Inspire Billionaire Philanthropy Is Losing Steam—Signups Drop From 113 To Just 14 In 2025

Benzinga_recent_news03-16 16:31

The high-profile pledge urging the world's wealthiest individuals to give away at least half their fortunes is seeing slowing momentum as fewer billionaires join and critics question its relevance. At...

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would use their fortunes. Buffett said the initiative could ultimately unlock trillions of dollars for charitable causes.\nBut the pace of new signups has slowed significantly.\nAccording to a Sunday report by The New York Times, 113 families joined the pledge in its first five years. That number dropped to 72 in the next five-year period and 43 in the five years after that. Just four people signed in 2024, while 14 joined in 2025.\nThe slowdown comes as wealth concentration has reached record levels. Federal Reserve data shows the top 1% of U.S. households now control roughly as much wealth as the bottom 90%, TechCrunch reported.\nGlobally, billionaire wealth has surged 81% since 2020 to about $18.3 trillion, even as millions of people continue to struggle with food insecurity.\nSeveral high-profile figures — including Elon Musk, Mark Zuckerberg and Sam Altman — remain among the pledge's signatories.\nSome critics argue the initiative has lost its influence. Investor Peter Thiel told the New York Times the pledge has \"run out of energy.\" Thiel also said that he has privately urged about a dozen signatories to reconsider their commitments.\nHe said that many he has spoken to have expressed regret about signing the pledge.\nOthers say wealthy donors are increasingly pursuing philanthropy through their own foundations or initiatives rather than joining a collective commitment.\nDespite the slowdown, Gates has continued to champion large-scale giving.\nHe previously said he plans to distribute most of his remaining wealth through the Bill & Melinda Gates Foundation over the coming decades.\nThe Giving Pledge did not immediately respond to Benzinga’s request for comments.\nDisclaimer: This content was partially produced with the help of AI tools and was reviewed and published by Benzinga editors.\nPhoto courtesy: Shutterstock \nTo add Benzinga News as your preferred source on Google, click here.","kind":"highlight","is_publish_news":true,"is_publish_highlight":false,"is_publish_live":false,"is_publish_wemedia":null,"editions":null,"column":"","sentiment":"-1","news_tag":"","news_rank":0,"symbols":[],"gpt_button":0,"need_auth":false,"code":"91000000","status":"200"},"commentList":[],"isCommentEnd":true,"newsSizeData":{"likeSize":0,"commentSize":0,"repostSize":0,"favoriteSize":0,"likeStatus":false,"favoriteStatus":false},"APP":{"userAgent":"Mozilla/5.0 AppleWebKit/537.36 (KHTML, like Gecko; compatible; ClaudeBot/1.0; +claudebot@anthropic.com)","isDev":false,"isTTM":true,"tenantId":"TBGLOBAL","deviceId":"web-server-community-laohu8-v3","version":"4.36.2","shortVersion":"4.36.2","platform":"web","vendor":"web","appName":"ttm","isIOS":false,"isAndroid":false,"isTiger":false,"isTHS":false,"isWeiXin":false,"isWeiXinMini":false,"isWeiBo":false,"isQQ":false,"isBaiduSwan":false,"isBaiduBox":false,"isDingTalk":false,"isToutiao":false,"isOnePlus":false,"isHuaWei":false,"isXiaomi":false,"isXiaomiWebView":false,"isOppo":false,"isVivo":false,"isSamsung":false,"isMobile":false},"href":"/m/news/2619453143","isCrawlerRequest":true}