Writings by Randall

Fifteen years after its launch, the Giving Pledge has largely failed to deliver on its bold promise. With only 13 percent of U.S. billionaires signed on—and most donations funneled into private foundations—the wealth gap has only grown wider. History shows what happens when voluntary redistribution falters: government steps in. If today’s billionaires continue to hoard wealth under the guise of philanthropy, policy reform may once again force their hand.