Bill Gates and Warren Buffett created The Giving Pledge in 2010 to encourage billionaires to donate most of their wealth.
The Giving Pledge is a voluntary commitment by wealthy individuals and couples to give the majority of their wealth to philanthropy during their lifetimes or in their wills. Gates, Melinda French Gates, and Buffett helped launch the initiative.
The pledge does not function as a legal contract and does not require donors to give through a particular foundation or on a fixed schedule. Participants publicly explain their commitment, often in letters describing their charitable priorities.
It is sometimes confused with a specific charitable foundation, but The Giving Pledge is a campaign and community rather than a grant-making institution. Its supporters have included philanthropists from multiple countries and industries.