Saudi billionaire Prince Alwaleed bin Talal made headlines over the summer when he announced he would donate his personal fortune, valued at $32 billion dollars, to charity. His inspiration? Bill and Melinda Gates. The pair has commended the commitment, in part because it was done so publicly, a model of philanthropy they have championed with “The Giving Pledge.”
Launched by the Gateses and Warren Buffett in 2010, The Giving Pledge is a campaign that invites the wealthy to give more than half of their money to philanthropic causes or charitable organizations.
Pledgers representing 14 countries beyond the United States have signed The Giving Pledge since its international expansion in 2013 (Australia, Brazil, Canada, Germany, India, Indonesia, Malaysia, Russia, South Africa, Taiwan, Turkey, Ukraine, United Arab Emirates, United Kingdom). But only a handful of the 138 individuals and families on the list are based in or originally from the developing countries and emerging economies this philanthropy is meant to benefit. As global development is increasingly seen as a process funded by citizens and governments to achieve their own aspirations in their own countries, expectations are high for developing countries’ wealthy elite to chip in.
About the author
Catherine Cheneycatherinecheney
Catherine Cheney is the Senior Editor for Special Coverage at Devex. She leads the editorial vision of Devex’s news events and editorial coverage of key moments on the global development calendar. Catherine joined Devex as a reporter, focusing on technology and innovation in making progress on the Sustainable Development Goals. Prior to joining Devex, Catherine earned her bachelor’s and master’s degrees from Yale University, and worked as a web producer for POLITICO, a reporter for World Politics Review, and special projects editor at NationSwell. She has reported domestically and internationally for outlets including The Atlantic and the Washington Post. Catherine also works for the Solutions Journalism Network, a non profit organization that supports journalists and news organizations to report on responses to problems.
