# 40 billionaire US families pledge to give away most of wealth

- Link: https://fundraising.co.uk/2010/08/04/40-billionaire-us-families-pledge-give-away-most-wealth/
- Published: 2010-08-04T14:52:02+01:00
- Author: Howard Lake

The Giving Pledge was announced last month following conversations between Bill 
and Melinda Gates, Warren Buffett, and other philanthropists in the US and around
the world. It is a moral commitment to give, rather than a legal contract. It does
not involve pooling money or supporting a particular set of charities. Indeed, no
money will be given out by the programme. The pledge is expressed publicly in order
to help raise the profile of charitable giving “and create an atmosphere that can
draw more people into philanthropy.”Forty of the wealthiest families and individuals
in the USA have committed to donating the majority of their wealth to charitable
causes by taking the Giving Pledge.

![](https://www.fundraising.co.uk/files/images/news/giving_pledge.jpg)

Initial pledge signatories include Michael R. Bloomberg, Barry Diller and Diane 
von Furstenberg, Barron Hilton, Warren Buffett, George Lucas, Larry Ellison, Jeff
Skoll, David Rockefeller, Paul G. Allen, Bill and Melinda Gates, Ted Turner, and
Pierre and Pam Omidyar. They committed themselves to giving at least 50% of their
wealth away, although some have pledged a much higher proportion.

Warren Buffett, chairman and CEO of Berkshire Hathaway, announced the first signatories
just six weeks after the project was first announced. “We’ve really just started,”
he said, “but already we’ve had a terrific response.

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> “At its core, [the Giving Pledge](http://www.givingpledge.org) is about asking
> wealthy families to have important conversations about their wealth and how it
> will be used. We’re delighted that so many people are doing just that – and that
> so many have decided to not only take this pledge but also to commit to sums far
> greater than the 50% minimum level.”

Bea Devlin, Head of International at the [Charities Aid Foundation](http://www.cafonline.org),
welcomed the announcement. She commented:

> “We estimate that if all of the billionaires based in the UK decided to give over
> half of their wealth to charity then this would result in at least an additional
> £60 billion going to good causes, which would go a long way to solving some of
> the world’s most pressing problems.”

 * **[Increase in number of donations worth over £1 million](https://fundraising.co.uk/2010/11/16/increase-number-donations-worth-over-1-million/)**(
   16 November 2010)
 * **[Winners of The Prince of Wales Medal for Arts Philanthropy announced](https://fundraising.co.uk/2010/11/18/winners-prince-wales-medal-arts-philanthropy-announced/)**(
   18 November 2010)
 * **[Leading Irish philanthropist identified](https://fundraising.co.uk/2011/03/08/leading-irish-philanthropist-identified/)**(
   8 March 2011)