Source: The New York Times
Summary
In 2010, Warren Buffett and Bill Gates launched the Giving Pledge, a public commitment for the world’s wealthiest people to give away more than half their fortune during their lifetime or upon their death. The campaign aimed to encourage philanthropy among billionaires, particularly in the tech industry, which was creating new wealth rapidly.
Our Reading
The launch follows a familiar script.
The Giving Pledge was a call to action for billionaires to give back, but it’s hard not to notice that it was also a clever PR move for the tech industry to polish its image. After all, “philanthropy” sounds better than “tax avoidance.” The pledge was a way for the wealthy to look good while still keeping most of their wealth. The Giving Pledge was less about changing the world and more about changing the narrative.
Author: Evan Null
