In May 2009, Bill Gates and Warren Buffett held a private dinner meeting with a few other billionaires.
But they weren’t talking about business.
Instead, they were looking for a way for the ultra-wealthy to give away their money.
A year later — along with Melinda French Gates, Bill Gates’ ex-wife — they founded the Giving Pledge.
The pledge was simple: It’s a promise to dedicate the majority of their wealth to charitable causes.
And Buffett and Gates both practiced what they preached…
In 2000, Bill and Melinda launched a foundation with close to $50 billion of their net worth.
Buffett followed their lead a few years later in June 2006. He pledged to distribute all of his Berkshire Hathaway shares — more than 99% of his net worth — to philanthropy. They’re worth around $100 billion.
So, they went calling on their wealthy friends to join them and sign up for the pledge. Fast-forward more than a dozen years later…
More than 230 people from 28 countries have signed the pledge, including Tesla CEO Elon Musk and Meta Platforms founder Mark Zuckerberg and his wife.
Today, their pledges towards all kinds of causes are estimated to be worth around $600 billion.
And in 2021, 14 new members joined the pledge, including DoorDash co-founder Tony Xu.
Earlier this year, I interviewed former CKE Restaurants CEO Andy Puzder. We talked about the opportunities that a capitalist system provides. The Giving Pledge is one of them.
But you don’t have to be a billionaire to be part of the Giving Pledge…
There are several signers of the pledge whose net worth is not counted in the billions of dollars.
And the reason they signed on is because America is a nation of givers…
In 2020, Americans donated over $471 billion to various causes.
Despite COVID-19 and the difficult year it was, it turned out to be one of the most generous years on record.
And for those who didn’t have the means to donate money, they donated their time, talents and energy. More than 77 million Americans gave of themselves in the past year.
Our generosity is one of the reasons America is the greatest country on the face of the earth. We live in a society that cultivates giving.
And in a small way, it’s why I started Alpha Investor three years ago…
Importance of Giving
You see, my parents were working-class folks. They struggled so their children would have a better future.
Their lives would’ve been so much easier if they would’ve bought a few shares of Berkshire Hathaway, Walmart or Intel back in the early 1970s.
But my parents were too busy putting food on the table to think about investing. They didn’t have anyone to show them how to invest or what to invest in.
However, one thing my parents taught us was that there’s nothing more important than giving to others.
It’s why I pledged to myself that one day I would start a service that would help Main Street Americans reach their financial goals.
Making a Difference
Many of you have sent me emails telling me what a difference Alpha Investor has made in your lives. And I’m humbled and grateful.
But there are so many more people we can help.
So, if you know of someone who would benefit from Alpha Investor, why not give them the gift of a subscription? Just click here to find out how to sign up.
The impact you could make on their lives could be huge.
I’d also love to hear how Alpha Investor has made a positive impact on your life. Please share your story with us by writing in at [email protected].
And on behalf of myself and my team, we’d like to wish you a happy holiday season! May God bless you and the United States of America.
Founder, Alpha Investor