The Giving Pledge
Posted on by Forest in General, Opinion, Saving Money & Finances
For most concerned humans giving is an important thing. Whether it’s giving time or money to help others in need it’s something that many of us feel we need to do to help those less fortunate. After all you never know you could end up (and may have) in need of help from others at some point and be it for religious reasons, karma or general ethics it just feels right to do.
So when I heard about The Giving Pledge I can’t tell you how much it made me smile. Money sadly runs the show and some people really do have more than they know what to do with. So why not redirect it into places where it can help? Makes perfect sense to me!
What exactly is The Giving Pledge
I’ll admit I only recently found out who Warren Buffet was. I have no idea how I missed him for so long but basically he possibly the richest person in the world. I believe his personal fortune is estimated at around $62billion (I have heard figures as low as $47billion though) with Bill Gates trailing at a terrible $58billion (again I have heard this quoted as $53billion) 
. Well Warren and Bill (with his wife Melinda) have started the Giving Pledge to urge billionaires like themselves to give the majority of their fortunes to charities and causes that they care about.
Really is a simple concept that in reality will not affect the lifestyles of these rich and in some cases very famous people a whole lot. I have undying respect for the people that take on this pledge despite of my agreements or disagreements to how they accrued their wealth.
Who has pledged to The Giving Pledge?
Approximately 40 billionaires have pledged to give the majority of their wealth to philantrophy for the Giving Pledge. According to the giving pledge’s own site here are the current list of people who have taken the pledge:
- Paul G. Allen
- Laura and John Arnold
- Michael R. Bloomberg
- Eli and Edythe Broad
- Warren Buffett
- Michele Chan and Patrick Soon-Shiong
- Barry Diller and Diane Von Furstenberg
- Ann and John Doerr
- Larry Ellison
- Bill and Melinda Gates
- Barron Hilton
- Jon and Karen Huntsman
- Joan and Irwin Jacobs
- George B. Kaiser
- Elaine and Ken Langone
- Gerry and Marguerite Lenfest
- Lorry I. Lokey
- George Lucas
- Alfred E. Mann
- Bernie and Billi Marcus
- Thomas S. Monaghan
- Tashia and John Morgridge
- Pierre and Pam Omidyar
- Bernard and Barbro Osher
- Ronald O. Perelman
- Peter G. Peterson
- T. Boone Pickens
- Julian H. Robertson, Jr.
- David Rockefeller
- David M. Rubenstein
- Herb and Marion Sandler
- Vicki and Roger Santand
- Walter Scott, Jr.
- Jim and Marilyn Simons
- Jeff Skoll
- Tom Steyer and Kat Taylor
- Jim and Virginia Stowers
- Ted Turner
- Sanford and Joan Weill
- Shelby White
An awesome list of names from a wide range of industries. Buffet and Gates are creating quite a campaign with this idea and just looking at the list it will be no small amount of cash redirecting into causes of all sorts.
Problems with The Giving Pledge…
I don’t think general giving to charity should be forced as such (Kevin, I know you have something to say here 
). We all know how annoying it was to be hounded by the charity workers wielding clipboards on the street. When I give to a charity and they make me feel bad for the size of my donation it pisses me off so even as a billionaire it isn’t good to be forced to give up your cash.
Celebs like Oprah are not signed up yet and it’s creating a small level medi hounding that may either force them to sign up or be treated like dirt for the duration of the campaign. I think she should sign up to back up her caring image but of course that is not my place to tell her what to do with her cash.
As soon as I am out of debt I plan to give money away every month. I would definitely jump on The Giving Pledge if I was a billionaire, would you?
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18 Responses to “The Giving Pledge”
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October 21, 2010
[...] I have written about the Giving Pledge and covered this information before but it’s an important subject so I wanted to share it [...]
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December 10, 2010
[...] wrote more about the Giving Pledge a while back with a list of the original 40 billionaires (hopefully will update with the 17 latest [...]
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December 12, 2010
[...] have written about the Giving Pledge a few times recently and there has been a lot of call for Oprah to join the currently [...]
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Forest: Absolutely agree Larry. In fact cost is the last t...
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Thomas - Your Daily Finance: I say look at your situation very carefully. Some...
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krantcents: I realize this a financial blog, but cost is the l...
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Rallph J. Liberti
21. Sep, 2010
This action is very commendable, helping the unfortunate through giving to charities of their choice. But, I really think that they should earmark some of their giving to creating jobs and helping the people that made them who they are (billionaires). Don’t you think that would be a commendable action to be taken by these charitable people????? Giving back so to speak. What a wonderful world that would be.
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manal mohamad mosleh
21. Sep, 2010
i want all this money for me
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Forest
21. Sep, 2010
Ha ha Manal, Not these easy I am afraid.
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Forest
21. Sep, 2010
Hey Rallph, that would be great but I think the important thing is to not force them to do anything. The ones that choose the most noble causes will hopefully get the biggest self reward.
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gary branstetter
21. Sep, 2010
i sure hope that many of them give money to feed people.and help the homeless.its not correct that so many have so much-and children all over the world are starving
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Forest
26. Sep, 2010
Hey gary, I hope there money goes straight to the starving too.
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manal mohamad mosleh
22. Sep, 2010
please ,,make me happy ,,iwant all my life happy and ,,ineed money and iwant money ,,help me please ,,iam not happy in my life ,,and i want all my dreams real and true
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manal mohamad mosleh
22. Sep, 2010
dont scared dont fraid ,,,trust me
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Forest
23. Sep, 2010
Ha, Manal, I don’t have the money, not a billionaire sadly
.
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Audrey
23. Sep, 2010
it’s a nice pledge; a nice gesture. I hope research is done (and I’m sure it is) as to the charities this money is being sent to (it would be a crime for this to hit a brick wall — never to be “given back” to the world at large as I imagine is desired; it would be a blessing to have it happen that it is “payed forward”). And I hope they are researching their research…
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Forest
24. Sep, 2010
Hey Audrey, we can only hope they choose good places for the cash to go…. Some prob will and some will prob make back handed business decisions whereby some cash will come back!
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Edy
10. Dec, 2010
Why not donate some of that money to give the country a kick start in order to get the economy back on track. Or better yet, put it into the healthcare system?
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Forest
10. Dec, 2010
Hey Edy, I hope that some of these pledgers will give to such causes…. That is the next part of this pledge, seeing what they do with the money.
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cindy kissner
02. Jan, 2011
how do I ask for help with my credit cards I asked catholic charties and they cant help me I called attorneys to file bankurapty and $2000.00 dollars im in need the creditors call 8;00am-9;30pm everyday.i have working since august not enoughs to pay they dont leave me alone what advise can you give me? I filled out 300 applications and got this job 24hrs a week..my dauhgter lives with me and her son it has been a struggle.hes two years old. cindy can you e-mail me back thank you for your time.
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Forest
02. Jan, 2011
Hi Cindy, I am in bad debt too but have arranged a debt management plan. I am however in the UK so used a debt management company to do most things for me. I am sure the equivalent exists in USA but be very careful and make sure they are recommended by a trustworthy source.
There is a lot more info here on the FTC website that could help you: http://www.ftc.gov/bcp/edu/pubs/consumer/credit/cre19.shtm
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