It’s been more than a decade since billionaires Bill Gates, Melinda French Gates, and Warren Buffett created The Giving Pledge to encourage other ultra-wealthy people to commit to giving away the bulk of their fortunes within their lifetime or upon their deaths.
More than 240 people from 29 countries have now signed on to fulfill that pledge — yet philanthropy experts worry that the super rich still aren’t giving away their money fast enough to improve conditions for millions of people around the world.
Humanity could end extreme poverty and prevent the next pandemic if the world’s richest 1% gave away just 10% of their income for a year or 2.5% of their net worth, according to a new report from Longview Philanthropy, a London-based advisory group.