Melinda French Gates on the ‘irrationality’ of extreme wealth and what she learned about true giving

Melinda French Gates. (Picture Jason Bell)

Melinda French Gates reaffirms her commitment to For commitment, in which the world’s richest people pledge to give away (or “give back,” in the parlance of the pledge) most of their wealth.

Gates of France are one of the creators of the 2010 Pledge, so her reassertion as a personal philanthropist following her divorce from Bill Gates shouldn’t be a big surprise. But in a new essay posted on the Giving Pledge on Tuesday morning, she uses the opportunity to share her views and insights after more than 20 years of dedication.

Here is one of the featured passages:

… I recognize the absurdity of so much wealth being concentrated in the hands of one person, and I believe that the only responsible thing for such a large fortune is to give — to be more thoughtful and impactful. the better. The ultimate goal of any philanthropist is to make the need for charity obsolete.

It’s important to acknowledge that giving away money your family will never need is not a particularly noble act. I have no doubt that the real standard for generosity is set by those who give even if it means needless. That’s why, as part of this commitment, I’m committed to doing more than writing checks. I also pledge my time, energy, and efforts to work to fight poverty and promote equality — for women and girls and other marginalized groups — in the United States and around the world. . My dedication will continue to focus on those with the highest barriers to equality.

Over the past two decades, I have found that, at its best, philanthropy plays a unique role in driving progress by taking on investment risks that others cannot or will not explore. come up with new ways to solve old problems. At the same time, I also learned how important it is to ensure that the people closest to the problems have a role to play in designing solutions.

Read 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 ex-wife of Amazon founder Jeff Bezos, and her husband Dan Jewett.

Melinda French Gates and Bill Gates continue to lead the Gates Foundation as co-chairs and trustees during the probationary period two years after their divorce. Gates of France is also Founder of Pivotal Ventures.

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