'To Whom Much Is Given, Much Is Expected,' Melinda French Gates Says, Urging Billionaires Backed By America's System To Give Away Far More Money

Billionaires who built fortunes in America's system should be giving far more away.
They benefited from the U.S. education system, regulations, and venture capital networks, philanthropist Melinda French Gates said.

Speaking to Wired editor-in-chief Katie Drummond recently, French Gates said those systems supported people who started businesses in America.

French Gates discussed the Giving Pledge, which she launched in 2010 with Microsoft (NASDAQ:MSFT) co-founder Bill Gates and Berkshire Hathaway (NYSE:BRK, BRK.B)) Chair Warren Buffett. 

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The pledge encourages billionaires to commit to donating the majority of their wealth. She told Drummond some signatories give at a "massive scale," but added, "Have they given enough? No."

"If you live in this country and started a business, you benefited from this country," French Gates said. "And I believe to whom much is given, much is expected, and they should be giving back more, far more than they are."

The Giving Pledge And Its Participants

More than 250 individuals from 30 countries have signed the commitment to give the majority of their wealth to philanthropic causes, according to the Giving Pledge website. 

Signatories include Tesla (NASDAQ:TSLA) CEO Elon Musk, Meta (NASDAQ:META) CEO Mark Zuckerberg, Oracle (NYSE:ORCL) Chairman Larry Ellison, and LinkedIn co-founder Reid Hoffman.

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The website also features letters from signatories explaining their motivations, highlights examples of philanthropic activity, and it describes the commitment as voluntary.

Meanwhile, French Gates' net worth is $17.4 billion according to the Bloomberg Billionaires Index. She served as co-founder and co-chair of the Bill & Melinda Gates Foundation for more than 20 years before leaving in June 2024. She currently leads Pivotal Ventures, a philanthropic organization focused on issues affecting women and families.

Recent Public Attention On Wealth And Giving

Philanthropist MacKenzie Scott, the ex-wife of Amazon (NASDAQ:AMZN) founder Jeff Bezos, has drawn national attention in recent weeks. She wrote in an essay on her Yield Giving website that she has given about $7.2 billion to organizations since her previous update, directing funds to groups focused on education, community development, and economic mobility.

Similarly, at the WSJ. Magazine Innovator Awards in October, singer Billie Eilish commented on the wealth held by some attendees during her acceptance speech. "Love you all, but there's a few people in here that have a lot more money than me," she said, adding that wealthy individuals should give more away. 

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