Philanthropy Findings

An investigation into the motives of signatories to the Giving Pledge (created by philanthropist Warren Buffet and Melinda Gates, comprised of members who pledge to give away at least fifty percent of their wealth during their lifetimes) has revealed that self-made billionaires are more likely to pledge to donate their money to charity than people who have inherited their wealth. 

The study, which was conducted by economists from Southampton University, looked at the personal characteristics of billionaires that predict whether they will join the pledge.  This showed that those who had made rather than inherited their money were significantly more likely to pledge. 

The study also looked at the reasons given by billionaires for joining the Giving Pledge, identifying ten main motives by examining pledge letters that signatories must make.  Among the most common reasons were making an impact, a sense of personal moral values, and a responsibility to give. 

See Howard Lake, Self-Made Billionaires More Likely to Become Philanthropists than Those Who Inherit Wealth, UK Fundraising, Oct. 6, 2014.