The Giving Pledge was designed to carry the world’s richest folks accountable for donating a minimum of half their fortunes of their lifetimes or wills–however up to now, solely John and Laura Arnold have really accomplished it.
From well-known Wall Road power dealer to philanthropist, John Arnold started his profession buying and selling pure fuel at Enron and later ran a hedge fund, Centaurus Companions. By 2012, he had retired and absolutely pivoted to philanthropy at 38 years previous.
The Arnolds have donated over $2 billion thus far, and greater than $204 million in 2024, in keeping with Forbes. At present, their web value is round $2.9 billion, which means their donations quantity to about 42 % of their wealth.
As well as, John Arnold has a Forbes philanthropy rating of 5 out of 5. The rating is predicated on those that have donated greater than 20% of their wealth.
Since launching their basis, “Arnold Ventures,” in 2008, their philanthropic efforts have expanded to 150 staff throughout workplaces in New York Metropolis, Washington, D.C., and Houston.
How the Arnolds donate
John and Laura Arnolds’ method to giving is data-driven, aiming to ship actual, measurable outcomes from what they provide, and has been essentially centered on analysis. Their efforts embody quite a lot of public coverage points, together with well being care, larger schooling, felony justice, infrastructure, and extra.
Emphasizing analysis and measurable outcomes, their philanthropy additionally displays a broader perception that wealth must be utilized in actual time—not preserved for future generations. In reality, John Arnold has beforehand famous that The Arnolds won’t have a legacy basis after their deaths.
Most not too long ago, “Arnold Ventures” joined the American Institute for Boys and Males to challenge a name for brand new analysis on the long-term penalties of on-line sports activities betting as states proceed to legalize the observe.
The Giving Pledge
Launched in 2010 by Invoice and Melinda French Gates and Warren Buffett, the Giving Pledge invitations the world’s wealthiest people and households to publicly decide to making a gift of a minimum of 50% of their wealth to philanthropy, both throughout their lifetimes or of their wills.
A number of the signers embody Bezos’s ex-wife MacKenzie Scott (however not Jeff Bezos), Michael Bloomberg, Elon Musk, George Lucas, and Mark Zuckerberg.
Regardless of tons of of billionaires signing the Giving Pledge, they haven’t essentially adopted via. The pledge is an ethical dedication fairly than a legally binding contract—individuals signal an open letter explaining their causes for giving. They’ll select which causes and charities to assist.
The Institute for Coverage Research’ 2025 report, The Giving Pledge at 15, highlights that Laura and John have been the one individuals technically in compliance with the pledge since signing in 2010.
“The Arnolds must be counseled, they’ve boldly determined to offer and to check how philanthropy can really transfer cash out the door as a substitute of sequestering wealth. They’re among the many most vital gamers within the Giving Pledge class in the case of pushing actual charity reform,” report co-author Bella DeVaan instructed Fortune in an interview.
Among the many 22 deceased U.S. Pledgers, solely eight met their pledge earlier than demise—only one, Chuck Feeney, gave away his complete fortune whereas alive.
Moreover, of the unique 57 U.S. signers in 2010, 32 stay billionaires, with their web value rising by nearly 300% since signing. Solely 11 of the unique group are now not billionaires—however it’s primarily as a result of their web value dropped, not as a result of they gave it away.
“Wealth is accumulating extremely shortly for the wealthiest folks in America,” DeVaan added. The Giving Pledge is without doubt one of the few public commitments they make in lieu of stronger federal regulation or taxation—so its achievement is actually necessary.”
John Arnold not too long ago defended The Giving Pledge on X following a Fortune report about Peter Thiel saying he inspired Elon Musk to desert it on account of considerations that his wealth could be donated to “left-wing nonprofits.”
“The multitude of billion-dollar fortunes, whether or not within the 1s, 10s, or 100s, have the potential to be put to huge profit,” Arnold wrote. “I received’t provide unsolicited recommendation as to what I feel somebody ought to do with their cash. I’d solely counsel that determining what to do with it in a productive vogue will be as necessary as attempting to make extra.”
