The Giving Pledge

Can you imagine giving away fifty percent or more of your income? For most people, this is totally unrealistic, because...bills. But, for the mega-wealthy, (aka billionaires), even if they give away ninety-nine percent of their wealth, they are still a millionaire ten times over. This is the idea behind the Giving Pledge. The world’s super rich commit to giving away a lot of money to do good in the world.

Despite the fact that committing to the Giving Pledge may not actually change these folks’ lives at all, it’s still a huge commitment. It's interesting to think about the reasons why someone would make this pledge and where they find their giving spirit. Every person or family that joins the pledge submits a letter stating their reasons or intention in joining.

A prevalent them throughout the letters is the reluctance of many people to join initially. As Ted Forstmann stated, “I’ve always believed that you don’t really talk about giving; you just do it.” But, part of the purpose of the pledge is to encourage others to also pledge. By publicly stating one’s intention, the hope is that others will join in as well.

This also echoes another theme that emerged, which is that the influence of others often profoundly impacted an individual’s propensity to give. Whether it was parents, a teacher, a mentor, or a friend, many of these individuals had great examples in their lives of what it means to give. I think this further demonstrates the above point as well as the nature of giving in general.
​
We all give in our own way, but one of the strong messages the Giving Pledge sends is don’t be afraid to share with others that giving matters and that it’s important to you as an individual or family. The act of sharing on its own may just change someone else’s life.

Here are ten great quotes from the letters from individuals that committed to giving away the vast majority of their fortunes.

"It is much easier to be generous if you have more than you need, so this is not a difficult thing for us to do. That said, I don’t think being charitable is innate. In my experience, it is learned from the examples of others." - Bill Ackman

"Fortunately, early on in my life I realised that personal ‘stuff’ really didn’t matter. Joan and I lived on a houseboat and one day it sank. We realised that we missed nothing except our treasured photo albums. Later our house in London caught fire, destroying everything inside. Last year our home in the British Virgin Islands was completely gutted as a result of a lightning strike. We were so relieved that everyone got out safely that even the loss of photo albums and notebooks were of little consequence. ‘Stuff’ really is not what brings happiness. Family, friends, good health and the satisfaction that comes from making a positive difference are what really matters." - Richard Branson

"Making a difference in people’s lives—and seeing it with your own eyes—is perhaps the most satisfying thing you’ll ever do. If you want to fully enjoy life—give. And if you want to do something for your children and show how much you love them, the single best thing—by far—is to support organizations that will create a better world for them and their children." -Michael R. Bloomberg

"While there is often a defined division between “for profit” and “not for profit” sectors—with for profit focused on making money and not for profit focused on making a difference—our experiences suggest that can be an overly simplistic way of looking at the world. Instead, we first focus on a societal problem or opportunity that needs to be addressed, and then decide the right strategy to achieve the greatest gains. Sometimes that is backing or starting a non-profit organization. Other times, that is backing or starting a business that is focused on doing well while doing good." -Jean and Steve Case

"From day one, my parents have been instrumental in instilling in me the ethos of philanthropy, particularly my responsibility as a Muslim to give and care for the less fortunate in our society. Our role as citizens of this world is to truly support the betterment of our society so that future generations and their offspring grow up to live even better lives and strive for even more than they think is possible today." -Mohammed Dewji

"Many years ago I asked my young children what two things they needed from their parents. They said ‘food and money.’ I told them ‘roots and wings.’ My goal in pledging 99% of my assets to philanthropy is to help others with roots—food, warmth, shelter, healthcare, education—so they too can have wings." -Judy Faulkner

"As human beings, we will carry nothing with us to the other world – the only things we shall take are the good deeds that we accomplish in this world. We are in this world to be tested, and each one of us must grant the fruit of his abilities." -Elie and Susie Horn

"But for the vast majority of people who are tirelessly devoted to a particular cause; devoted to making the world a better place - giving is hard. When you’re barely able to pay the bills, every dollar matters. When you’re working around the clock and raising a family, every minute counts. Yet, remarkably, people still find a way to give. Whether it’s writing a check in whatever amount they can afford, or volunteering to serve on a committee, people somehow find a way. It’s this spirit that has always inspired me and my wife, Liz, to give." -Eric Lefkofsky

'“In poverty, sustain yourself. In prosperity, help others.” This time-honored philanthropic principle, which has been passed down through generations in China, has given me great motivation and inspiration." -Gensheng Niu

"Looking back, if I had to live my life over, there are things I would do differently, but the one thing I would not change is my charitable giving. I’m particularly thankful for my father’s advice to set goals so high that they can’t possibly be achieved during a lifetime and to give help where help is needed most. That inspiration keeps me energized and eager to keep working hard every day on giving back and making the world a better place for generations to come." -Ted Turner

Oh, and there’s so many more! Check out the full summary of letters if you want to read more.

Where did your giving spirit originate? What inspires you to give? How do you feel about the idea of sharing with others that you give? 

Author

Jannan Poppen, Giving Coordinator