PayPal Co-Founder Urges Billionaires to Abandon Giving Pledge

Peter Thiel calls Bill Gates and Warren Buffett's philanthropic initiative an "Epstein-adjacent, fake Boomer club"

Mar. 17, 2026 at 4:48pm

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PayPal co-founder Peter Thiel has sparked controversy by encouraging fellow billionaires to stop donating to the Giving Pledge, the philanthropic initiative founded by Bill Gates and Warren Buffett. Thiel has criticized the Giving Pledge as "Epstein-adjacent" and claimed it has "run out of energy", while actively working to discourage others from participating.

Why it matters

The Giving Pledge has been a prominent effort to encourage the world's wealthiest individuals to donate the majority of their fortunes to charitable causes. Thiel's criticism and attempts to undermine the initiative raise questions about the future of high-profile philanthropy and the role of billionaires in addressing global challenges.

The details

The Giving Pledge was founded in 2010 by Bill Gates, Warren Buffett, and Melinda French Gates, with the goal of inspiring billionaires to donate at least half of their wealth to charitable causes. As of 2025, the Pledge has over 250 signatories and has raised an estimated $600 billion. However, Thiel has referred to the Pledge as an "Epstein-adjacent, fake Boomer club" and has been actively discouraging other billionaires from joining, including urging Elon Musk to retract his pledge.

  • The Giving Pledge was founded in 2010.
  • As of October 2025, the Giving Pledge has over 250 signatories and has raised an estimated $600 billion.
  • In 2025, only 14 new signatories joined the Giving Pledge, down from previous years.

The players

Peter Thiel

The co-founder of PayPal who has been critical of the Giving Pledge and has actively worked to discourage other billionaires from participating.

Bill Gates

The co-founder of the Giving Pledge, along with Warren Buffett and Melinda French Gates.

Warren Buffett

The co-founder of the Giving Pledge, along with Bill Gates and Melinda French Gates.

Melinda French Gates

The co-founder of the Giving Pledge, along with Bill Gates and Warren Buffett.

Elon Musk

A notable signatory of the Giving Pledge who Thiel has urged to retract his pledge.

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What they’re saying

“They got an incredible number of people to sign up those first four or five years, and it somehow has really run out of energy. I don't know if the branding is outright negative, but it feels way less important for people to join.”

— Peter Thiel, PayPal Co-Founder

“In its early years, the Giving Pledge helped build norms where few existed...That brings more resources to the world's greatest challenges. Our goal is to keep building a culture where giving is the norm and to provide the support that helps turn commitment into action.”

— Taryn Jensen, Interim Lead, The Giving Pledge

The takeaway

Thiel's criticism of the Giving Pledge raises concerns about the future of high-profile philanthropy and the role of billionaires in addressing global challenges. As interest in the initiative appears to be waning, it remains to be seen whether other philanthropic efforts can maintain momentum and effectively channel the wealth of the world's richest individuals towards pressing social and environmental issues.