Founded | 2015[1] |
---|---|
Founder | Dafna Bonas, David Goldberg |
Type | Non-profit |
Location |
|
Area served | Global |
Membership | 1,776 (May 2023) [2] |
Website | founderspledge |
Founders Pledge is a London-based charitable initiative, where entrepreneurs commit to donate a portion of their personal proceeds to charity when they sell their business. [3] [4] [5] The mission of Founders Pledge is to "empower entrepreneurs to do immense good". [6]
By October 2024, 1,970 entrepreneurs across 30 countries [3] have signed up to Founders Pledge. Collectively, they have pledged to donate $10.3 billion in share value (of which $1.4 billion in donations have been completed to date). [7]
Founders Pledge was initially launched in 2015 by the Founders Forum for Good, which focuses on helping social entrepreneurs build and scale businesses. [8] David Goldberg, co-founder and CEO of Founders Pledge, has stated that the work of 80,000 Hours have influenced the trajectory of the organization. [9]
Founders Pledge was named one of the New Radicals 2016, which are "innovative projects chosen by The Observer and Nesta as making a real difference to society". [10]
Starting in London, Founders Pledge has since expanded and opened multiple new offices in cities such as Berlin, [11] New York and San Francisco. [3] In addition, Founders Pledge has launched partnerships with organisations including Y Combinator, [12] MassChallenge, and Forward Partners. [13] In September 2016, Sam Altman, president of Y Combinator, wrote on the Y Combinator blog: "Many of our founders ask us about how they can donate part of their equity or post exit proceeds, and now we have an answer: Founders Pledge." [14]
In 2023, Founders Pledge moved $168 million to the charitable sector on a budget of $8.2 million, implying an ROI of over 20:1. [15] [16]
Founders Pledge runs three main types of activities, all of which are free of charge for its members. [3] [7]
Founders Pledge partners with GiveWell for its research on cost-effective global health and development charities. In addition, Founders Pledge has written research reports on various topics, including:
Entrepreneurs signing up to Founders Pledge enter a legally binding commitment to donate a portion of their personal proceeds on liquidity to charity. The minimum commitment is 2%, though on average entrepreneurs commit around 7%. [26] Comparing several donation pledging initiatives, Vox writes that Founders Pledge forces The Giving Pledge "to compete for the mindshare of today’s tech community". [27]
A complete list of members is available on the Founders Pledge website. [28] Notable members of Founders Pledge include the following:
Azim Hashim Premji is an Indian businessman and philanthropist, who was the chairman of Wipro Limited. Premji remains a non-executive member of the board and founder chairman. He is informally known as the Czar of the Indian IT Industry. He was responsible for guiding Wipro through four decades of diversification and growth, to finally emerge as one of the global leaders in the software industry. In 2010, he was voted among the 20 most powerful men in the world by Asiaweek. He has twice been listed among the 100 most influential people by Time magazine, once in 2004 and more recently in 2011. For years, he has been regularly listed one among The 500 Most Influential Muslims. He also serves as the Chancellor of Azim Premji University, Bangalore. Premji was awarded Padma Vibhushan, India's second highest civilian award, by the Government of India.
Y Combinator, LLC (YC) is an American technology startup accelerator and venture capital firm launched in March 2005 which has been used to launch more than 4,000 companies. The accelerator program started in Boston and Mountain View, expanded to San Francisco in 2019, and was entirely online during the COVID-19 pandemic. Companies started via Y Combinator include Airbnb, Coinbase, Cruise, DoorDash, Dropbox, Instacart, Reddit, Stripe, and Twitch.
Bruce Gregory Friedrich is co-founder and president of The Good Food Institute (GFI), a Y Combinator funded non-profit that promotes plant- and cultivated meat alternatives to conventional animal meat. He is also a co-founder of the alternative protein venture capital firm New Crop Capital. Friedrich previously worked for PETA and Farm Sanctuary.
GiveWell is an American non-profit charity assessment and effective altruism-focused organization. GiveWell focuses primarily on the cost-effectiveness of the organizations that it evaluates, rather than traditional metrics such as the percentage of the organization's budget that is spent on overhead.
Dustin Aaron Moskovitz is an American billionaire internet entrepreneur who co-founded Facebook, Inc. with Mark Zuckerberg, Eduardo Saverin, Andrew McCollum and Chris Hughes. In 2008, he left Facebook to co-found Asana with Justin Rosenstein. In March 2011, Forbes reported Moskovitz to be the youngest self-made billionaire in the world, on the basis of his then 2.34% share in Facebook. As of June 2024, his net worth is estimated at US$23 billion by the Bloomberg Billionaires Index.
Samuel Harris Altman is an American entrepreneur and investor best known as the CEO of OpenAI since 2019. He is also the chairman of clean energy companies Oklo Inc. and Helion Energy. Altman is considered to be one of the leading figures of the AI boom. He dropped out of Stanford University after two years and founded Loopt, a mobile social networking service, raising more than $30 million in venture capital. In 2011, Altman joined Y Combinator, a startup accelerator, and was its president from 2014 to 2019.
MacKenzie Scott is an American novelist, philanthropist, and ex-wife of Amazon founder Jeff Bezos. As of June 2024, she has a net worth of US$36.1 billion, owning a 4% stake in Amazon. As such, Scott came out of her divorce as the third-wealthiest woman in the United States and the 47th-wealthiest individual in the world. Scott was named in the list of world's 100 most powerful women by Forbes in 2023 and 2021; including one of Time's 100 most influential people in 2020.
The Giving Pledge is a charitable campaign, founded by Bill Gates and Warren Buffett, to encourage wealthy people to contribute a majority of their wealth to philanthropic causes. As of June 2022, the pledge has had 236 signatories from 28 countries. Most of the signatories of the pledge are billionaires, at a total of US$600 billion.
Giving What We Can (GWWC) is a group of charities promoting effective giving whose members pledge to give at least 10% of their income to effective charities. It was founded at Oxford University in 2009 by the philosopher Toby Ord, physician-in-training Bernadette Young, and fellow philosopher William MacAskill.
Brian Joseph Chesky is an American businessman and industrial designer and the co-founder and CEO of Airbnb. Chesky is the 355th richest person in the world according to Forbes, with a net worth of $7.8 billion, mostly due to his ownership of 67 million shares of Airbnb.
Emmett Shear is an American Internet entrepreneur and investor. He is the co-founder of live video platform Justin.tv. He was the chief executive officer of Twitch when it was spun off from Justin.tv until March 2023. In 2011, Shear was appointed as a part-time partner at venture capital firm Y Combinator. In November 2023, he briefly was interim CEO of OpenAI.
Effective altruism (EA) is a 21st-century philosophical and social movement that advocates impartially calculating benefits and prioritizing causes to provide the greatest good. It is motivated by "using evidence and reason to figure out how to benefit others as much as possible, and taking action on that basis". People who pursue the goals of effective altruism, who are sometimes called effective altruists, follow a variety of approaches proposed by the movement, such as donating to selected charities and choosing careers with the aim of maximizing positive impact. The movement has achieved significant popularity outside of academia, spurring the creation of university-based institutes, research centers, advisory organizations and charities, which, collectively, have donated several hundreds of millions of dollars.
Jonathan Philip Pryce Goodwin is a British banker and investor. He is partner, head of Merchant Banking at Alvarium Investments. His appointment followed the merger in March 2019 of Lepe Partners, the merchant bank he co-founded in 2011, with Alvarium which works across North America, Europe and Asia Pacific, supervising $15bn+ of assets. With Brent Hoberman, Goodwin also co-founded Founders Forum, a network of digital entrepreneurs, corporate CEOs and senior investors.
Earning to give involves deliberately pursuing a high-earning career for the purpose of donating a significant portion of earned income, typically because of a desire to do effective altruism. Advocates of earning to give contend that maximizing the amount one can donate to charity is an important consideration for individuals when deciding what career to pursue.
Joseph Gebbia Jr. is an American designer, entrepreneur, and co-founder of home rental company Airbnb. Gebbia is the 386th richest person in the world according to Forbes, with a net worth of $7.4 billion, mostly due to his ownership of 53 million shares of Airbnb. In 2022, Gebbia joined the board of Tesla Inc. and bought a minority stake in the San Antonio Spurs basketball team.
Peter Eric Done is an English billionaire businessman. He is a co-founder of Betfred and the founder and group managing director of Peninsula Business Services, established in 1983.
Qasar Younis is a Pakistani American entrepreneur and venture capitalist, and the CEO of Applied Intuition, a technology company that is building advanced software and infrastructure tools for self-driving vehicles. Prior to Applied Intuition, he was the COO of Y Combinator during Sam Altman’s tenure as President. He was also the co-founder and CEO of Talkbin.
Eva Love Vivalt is a Canadian economist. She is currently an Assistant Professor of Economics at the University of Toronto and the director of the Global Priorities Institute at the University of Oxford.
The COVID-19 pandemic has greatly impacted the international and domestic economies. Thus, many organizations, private individuals, religious institutions and governments have created different charitable drives, concerts and other events to lessen the economic impact felt.