14 more have joined the list of billionaires who have taken the ‘Giving Pledge’
Words: Vandana Devi Images: Various Sources
The ‘Giving Pledge’ was an initiative started by Warren Buffet and the Bill & Melinda Gates Foundation in 2010. The goal was to encourage billionaires and their families to dedicate the majority of their wealth, or at least half, to philanthropic causes. This can be done either during their lifetimes or after their deaths.
14 more signatories have joined the Giving Pledge and these include Australian gaming tycoon Leonard H. Ainsworth, easyJet airline founder Stelios Haji-loannou and investor Robert F. Smith. Mark Zuckerberg, Michael Bloomberg are past signers.
There are now 168 signatories from 21 countries. The Giving Pledge is a moral pledge and not a legal one. Many of these billionaires have contributed to good causes over the years even without the pledge. But the signing of this pledge comes with positive press and accolades.
Simply throwing away money at systematic problems without addressing the causes of it makes even the largest of donations fruitless. With the Giving Pledge, they are adding to the global philanthropy conversation and are attempting to make a difference. When business leaders with social conscience speak up, people and policy makers listen. And this further strengthens the point that one must use any privilege you’ve been given to help vulnerable and marginalised communities.