The Giving Pledge at 15: Progress, Shortfalls, and the Path to Real Impact
Fifteen years ago, The Giving Pledge made headlines around the world. Spearheaded by Bill Gates, Melinda French Gates, and Warren Buffett, it invited the world’s wealthiest individuals to commit at least half their wealth to philanthropy—either during their lifetimes or in their wills.
It was a bold, public statement that signaled a shift in how we think about the role of wealth in society.
Now, as the pledge turns 15, it’s worth asking: Has it fulfilled its promise? What has it accomplished, and what’s still missing?
And more importantly, what can families who steward significant wealth learn from it?
A Bold Vision, With Mixed Results
The Giving Pledge sparked an important global conversation, but its results have been uneven. According to a new report from the Institute for Policy Studies (IPS), a progressive, nonprofit think tank that has studied wealth concentration and philanthropy for decades, most pledgers have given away far less than half their fortunes.
- Participation: As of 2025, 256 individuals, couples, or families have signed The Giving Pledge (194 from the U.S., 62 international). Only 9 have fulfilled it by giving away at least half their wealth, including the late Chuck Feeney, who gave away his entire $8 billion fortune in his lifetime.
- Wealth Growth: The combined net worth of original U.S. signers has grown 283% over 15 years.
- Giving vs. Holding: Pledgers have donated an estimated $206 billion to date, with roughly 80% ($164 billion) going to private foundations and $5 billion to donor-advised funds, vehicles that can delay impact.
- Momentum: The pace of new signers has slowed in recent years, suggesting that the initial energy behind the pledge may be fading.
While the pace of giving has not kept up with the promise, the intention behind The Giving Pledge remains a good one. Now we need to move from pledge to practice, turning commitments into real giving with measurable, transparent outcomes. That means embracing the principle to “give while you live,” so the Rising Generation can see philanthropy in action and learn how to carry it forward.
The Responsibility of Wealth
Whether or not your family has signed a pledge, one thing is clear: wealth is a responsibility.
And that responsibility is only growing. According to Cerulli Associates, $124 trillion is expected to transfer from older generations to their heirs by 2048. This marks the largest intergenerational wealth transfer in history.
That transfer will have enormous implications for philanthropy and for society. The Rising Generation will not only inherit wealth, but also influence, visibility, and decision-making power. And they will be looking to the generation above them for cues on what to do with it.
If that generation has not modeled how to give—how to think critically about causes, how to structure effective philanthropy, how to engage with humility and transparency—then we should not expect the next generation to simply figure it out.
Getting Unstuck: A Way Forward for Enterprising Families
One of the most common challenges we see among wealthy families is that they wait. They wait to come up with the big idea. The perfect foundation mission. The right moment to begin. But that waiting often leads to paralysis.
The truth is, you don’t need a grand philanthropic vision to start giving well. What you do need is a commitment to act, and a willingness to treat giving with as much intentionality and discipline as you treat business and investment decisions.
Here are four steps that can help any family move from intention to action:
- Define your mission and values – Start by aligning on what matters most. This does not have to be complicated. It can be as simple as naming the values your family wants to promote—education, opportunity, health, climate—and identifying how those values can be reflected in your giving. A clear mission does not limit you; it keeps you focused and anchored, especially as new requests and ideas inevitably come your way.
- Establish structure and governance – Effective giving requires more than good intentions. It requires process. Who decides where the money goes? What kind of opportunities will you consider? How will you evaluate outcomes? Many families benefit from formal governance structures, a philanthropy committee, an investment policy, even a decision-making rubric. These tools help depersonalize decisions and ensure that giving can be sustained across generations.
- Engage the Rising Generation – Bring younger family members into the process early, not just to observe, but to participate. Let them research causes, propose grants, and even run small philanthropic projects of their own. Giving can be one of the most effective ways to teach financial literacy, values alignment, and long-term thinking. It also helps Rising Gen members build their own identity as contributors to the family’s legacy.
- Expand your definition of impact – Philanthropy isn’t limited to traditional grant making. More families are now looking at how their investment portfolios, operating businesses, and use of time can advance social outcomes. This might mean integrating ESG principles into a family office, launching a social enterprise, or mentoring the next generation of leaders in a cause area you care about. Don’t wait to be asked. Use every tool available to make a difference.
It is time to re-energize the conversation about what effective philanthropy looks like in today’s world, and to match public commitments with timely, accountable action.
Looking Ahead: We Need More Pledges and More Action
The Giving Pledge may not have fully lived up to its original ambitions, but the spirit behind it is still urgently needed. In fact, we need more pledges. We need more public commitments from those who hold concentrated wealth. And we need those commitments to be paired with clear, timely, and accountable action.
If your family hasn’t yet made a philanthropic commitment, now is the time to consider it. Not just as a symbolic gesture, but as a meaningful part of your legacy. The Rising Generation is watching, and they will learn from what you choose to do. Let’s give them something worth building on—and do it while we’re here to see the results together.
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