The billionaires made a promise — now some want out

Warren Buffett and Bill Gates launched the Giving Pledge in 2010 to get billionaires to publicly commit to donating most of their wealth, but participation has sharply declined—from 113 families in the first five years to just four in 2024. As billionaire wealth has surged 81% since 2020 to $18.3 trillion while inequality deepens, prominent signatories like Peter Thiel now dismiss the pledge as having 'run out of energy,' reflecting a broader shift in Silicon Valley away from idealistic philanthropy toward libertarian values.