Melinda French Gates on Tuesday morning reaffirmed her commitment to the Giving Pledge, in which the world’s wealthiest people commit to give away (or “give back,” in the words of the pledge) the majority of their wealth.
French Gates was one of the creators of the Giving Pledge in 2010, so her reaffirmation as an individual philanthropist following her divorce from Bill Gates isn’t a big surprise. But in a new essay posted on the Giving Pledge site, she uses the opportunity to share her perspective and insights after more than 20 years of giving.
Here’s one of the passages that stands out:
… I recognize the absurdity of so much wealth being concentrated in the hands of one person, and I believe the only responsible thing to do with a fortune this size is give it away—as thoughtfully and impactfully as possible. The ultimate goal of any philanthropist should be to render the need for philanthropy obsolete.
It’s important to acknowledge that giving away money your family will never need is not an especially noble act. There’s no question in my mind that the real standard for generosity is set by the people who give even when it means going without. That’s why, as part of this pledge, I commit to doing more than writing checks. I also commit my time, energy, and efforts to the work of fighting poverty and advancing equality—for women and girls and other marginalized groups—in the United States and around the world. My giving will continue to focus on the people for whom the barriers to equality are highest.
In the last two decades, I’ve seen that, at its best, philanthropy plays a unique role in driving progress by taking investment risks that others can’t or won’t to explore new ways of solving old problems. At the same time, I’ve also learned how important it is to ensure that the people closest to those problems have a role in designing solutions.
Read the full essay by Melinda French Gates.
More than 220 of the world’s wealthiest people and families have committed to the Giving Pledge, including MacKenzie Scott, the former wife of Amazon founder Jeff Bezos, and her husband Dan Jewett.
Melinda French Gates and Bill Gates are continuing to lead the Gates Foundation in as co-chairs and trustees for a two-year trial period following their divorce. French Gates is also the founder of Pivotal Ventures.
Bill Gates also released a new Giving Pledge letter. All of this coincides with Giving Tuesday.
