5 American billionaires giving their fortunes away to charity

5 American billionaires giving their fortunes away to charity


Five years ago, Warren Buffett teamed up with Bill and Melinda Gates in a campaign to get billionaires to give away the bulk of their wealth.

They launched the Giving Pledge in 2010 in an effort to convince America's wealthiest individuals to commit to donating at least half of their fortunes to charities and philanthropic causes either during their lifetimes or in their wills. Today, more than 130 couples and individuals from 14 countries have signed on.

The pledge isn't a legally binding contract, but more of a moral commitment. The campaign's intention is to "inspire conversations, discussions, and action, not just about how much [to give] but also for what purposes and to what end," the website says.

Most of America's wealthiest people have signed on, includingOracle (ORCLTech30) CEO Larry Ellison (estimated net worth: $54.3 billion), Michael Bloomberg ($35.5 billion), Mark Zuckerberg ($35.3 billion), famed investor Carl Icahn ($22.2 billion), Microsoft(MSFTTech30) co-founder Paul Allen ($17.5 billion), and Telsa(TSLA) founder Elon Musk ($13.3 billion)