Bill Gates and Warren Buffett’s Giving Pledge after 15 years: Only 9 of the 256 billionaires actually followed through on giving away half their wealth

The Political Studies Institute finds “the pledge of giving in 15” finds that the initiative-where billionaires publicly undertake to give at least half of their wealth to charitable works-mostly not achieved, with most of the wealthy sites now more than they join the practical roles directly. The IPS team, led by Chuck Collins, Bella Davan, Helen Flaniri and Dan Petragorsky, invites the public to examine his data and methodology. Collins is the same as the heir of Oscar Mayer, who gave his wealth and devoted his career to search for inequality in wealth.

A few of them have achieved the pledge, according to the IPS accounts. Only one of the 2010 living pledges (Laura and John Arnold) gave half of their wealth. Of the 22 of the available Americans, he met only eight of their pledge before death – only one, Chuck Vinnie, gave his entire wealth while alive.

The pledge is the general and moral commitment instead of a legally binding contract; Participants make an open letter explaining the causes of giving and they can choose charitable causes and associations. This initiative is designed to inspire generosity, set new criteria for billionaire charitable work, and to transform how to use the main wealth to face urgent social challenges

Main results:

• 256 Individuals, husbands or families signed the pledge of giving, Including 194 from the United States and 62 other countries. Among the two American positions, 110 billionaires are still, with a combined wealth of $ 1.7 trillion – about 13 % of all American billionaires.
• Of the 57 original sites in 2010, 32 billionaires are still. The value of its collective net increased by 283 % since the signature (166 % for inflation has been modified). Not only 11 of the original group is no longer billionaires, mainly due to their wealth from the threshold, not because of the tender.
• Giving mostly to brokers: Among an estimated $ 206 billion in the original 2010 original institutes, nearly 80 % ($ 164 billion) went to special foundations-with only a small part that moved to funds of donors. In 2023, 44 institutions associated with these billionaires were holding $ 120 billion of assets and paid an average of 9.2 %, and often lower than the estimated value of these assets.
• Wealth exceeds giving: For most of them, the speed of the accumulation of wealth exceeds charitable donations, which makes the pledge impossible in terms of functionality completely in the current paths.
• Taxes and general impact: If all the two original meanings who live enough to meet the promise today give, approximately $ 367 billion will flow to charity. However, such gifts will lead to up to $ 272 billion of federal tax revenues, which reduces support for public programs, as wealthy donors can claim up to 74 % in charitable tax discounts.
• Charitable strength concentration: The report warns of “transferring the great wealth” that, along with the favorable tax law and slow charitable payment rates, will increase the institutions of the billionaire family, focus power, and undermine democratic accountability.

Politics recommendations include the report:

• Raise the minimum payment requirements and ensure money flow quickly from institutions and DAFS to the working charities, and not suspended for years.
• Increased transparency, general accountability and enforcement to reduce the violations of charitable vehicles to achieve personal or political gains.
• Imposing taxes on large wealth more in order to slow excessive accumulation and reduce dependence on private charitable works.

The report calls for a return to the spirit of “giving during the serpent” embodied by Chuck Vinnie, and calls for systematic reforms to ensure that charitable donations serve the public interest-not only the tax and legacy interests of the wealthy.

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