The Buffett Gates Giving Pledge – and big philanthropy – are losing their grip on the world’s richest

The Giving Pledge was once billionaire chic — pushed by Warren Buffett and Bill Gates as a way to normalize giving away vast fortunes. Now? The vibe has flipped. Fewer elites are signing, some are quietly backing out, and critics like Peter Thiel openly mock it. In today’s more cutthroat, politicized climate, many billionaires see philanthropy as PR fluff — or skip it entirely in favor of business or political influence. The pledge still claims wins, but momentum is fading fast, exposing a deeper shift: giving is no longer the status symbol it once was.