Warren and Gates Ask Billionaires to Give Away Money

Warren Buffett and Bill Gates have started a campaign called the “Giving Pledge” and are asking billionaires to pledge to give away at least half of their fortune either during their lifetime or after their death. So far, four billionaires have pledged high percentages of their fortunes, including:

• Real estate and construction billionaire Eli Broad (pledged $4.275 billion)
• Venture capitalist John Doerr
• Media entrepreneur Gerry Lenfest (gave away $800 million)
• Former Cisco Systems Chairman John Morgridge

The Giving Pledge simply asks billionaires to make a moral commitment to give away money and will not accept any money.

See Michelle Nichols, Warren Buffett, Bill Gates Ask Billionaires to Give Away Wealth, Reuters, June 16, 2010. 

Special thanks to Joel Dobris (Professor of Law, UC Davis School of Law) for bringing this to my attention.