Billionaires Cooling on Giving Pledge Experiment

Backlash grows against Warren Buffett and Bill and Melinda Gates' effort to get ultra-wealthy to donate at least half their fortunes

Mar. 16, 2026 at 9:27pm

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The Giving Pledge, a 2010 initiative by Warren Buffett and Bill and Melinda French Gates to encourage billionaires to donate at least half their wealth to charity, is facing a growing backlash as some signers quietly withdraw or modify their commitments. New signers have slowed, and some high-profile figures like Coinbase's Brian Armstrong and Oracle's Larry Ellison have stepped back from the pledge, with tech mogul Peter Thiel even urging others to unsign. The shift reflects a broader skepticism of traditional philanthropy and a belief among some billionaires that "giving back" should happen through business or politics, not nonprofits.

Why it matters

The Giving Pledge was envisioned as a transformative philanthropic experiment that could unlock trillions for good causes, but the growing resistance highlights the challenges of getting the ultra-wealthy to follow through on their charitable promises. It also reflects a shifting mindset among some billionaires who are increasingly viewing traditional philanthropy with skepticism.

The details

Since the Giving Pledge's launch in 2010, over 225 billionaires have signed on, promising to give away at least half their fortunes. However, the pace of new signers has slowed, with the latest recruits tending to be lower-profile or based overseas. Some high-profile signers, like Coinbase's Brian Armstrong and Oracle's Larry Ellison, have quietly withdrawn or modified their commitments, with Ellison focusing more on for-profit efforts. Tech investor Peter Thiel has even been urging fellow billionaires to unsign the pledge, dismissing it as a "fake Boomer club."

  • The Giving Pledge was launched in 2010 by Warren Buffett and Bill and Melinda French Gates.
  • In 2019, Coinbase's Brian Armstrong signed the Giving Pledge.
  • In 2024, Armstrong quietly withdrew from the Giving Pledge.
  • In recent years, the pace of new signers has slowed, with the latest recruits tending to be lower-profile or based overseas.

The players

Warren Buffett

Co-founder of the Giving Pledge, a philanthropic initiative that encourages billionaires to donate at least half their wealth to charity.

Bill and Melinda French Gates

Co-founders of the Giving Pledge along with Warren Buffett.

Brian Armstrong

Co-founder and CEO of Coinbase, who signed the Giving Pledge in 2019 but quietly withdrew in 2024.

Larry Ellison

Co-founder and CTO of Oracle, who signed the Giving Pledge but later "amended" his commitment to focus more on for-profit efforts.

Peter Thiel

Tech investor who has been urging fellow billionaires to unsign the Giving Pledge, which he dismisses as a "fake Boomer club."

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What they’re saying

“We must not let individuals continue to damage private property in San Francisco.”

— Robert Jenkins, San Francisco resident

“Fifty years is such an accomplishment in San Francisco, especially with the way the city has changed over the years.”

— Gordon Edgar, grocery employee

The takeaway

The growing backlash against the Giving Pledge highlights the challenges of getting the ultra-wealthy to follow through on their charitable promises, as well as a shifting mindset among some billionaires who are increasingly viewing traditional philanthropy with skepticism. This trend raises questions about the future of large-scale, high-profile philanthropic initiatives and the role of the ultra-wealthy in addressing societal issues.