Hundreds of billionaires pledged to give away $600 billion to charity—but the Bill Gates and Warren Buffett era of philanthropy may be over

[Special thanks to David S. Luber (Florida Probate Attorney) for bringing this article to my attention.]

Bill Gates and Warren Buffett ushered in a new Gilded Age of giving, their influence often compared to that of the Rockefellers and Carnegies. But the face of philanthropy is changing as higher taxes loom over liberal institutions and women mega-donors introduce new ways of giving. MacKenzie Scott has become a leader in this cultural shift, donating more than $200 million to HBCUs and other charitable causes in recent months.

Earlier this year, the philanthropic world was shaken when Gates announced plans to sunset his foundation, pledging to give away $200 billion by 2045 and accelerate the distribution of his $100 billion personal fortune.

“There’s an air of anticipation in terms of if and how people are going to follow in his footsteps,” said Amir Pasic, dean of the Lilly Family School of Philanthropy at Indiana University.

With 94-year-old Buffett stepping down from Berkshire Hathaway at the end of the year, even more change is expected. His Giving Pledge, signed by more than 250 billionaires across 30 countries and reportedly representing at least $600 billion, inspired a generation of ultra-rich donors. But questions remain about whether others will carry the torch once Buffett departs from the pledge’s spotlight.

Experts agree a shift is coming but not an end to philanthropy. Instead, it may open the door for a more diverse group of donors.

For more information see Emma Burleigh “Hundreds of billionaires pledged to give away $600 billion to charity—but the Bill Gates and Warren Buffett era of philanthropy may be over,” Yahoo Finance, November 6, 2025.