kateoplis: over 40 u.s. billionaires have pledged to give away at least half their wealth to the charity of their choice as part of “the giving pledge,” a campaign by warren buffett and bill gates urging the rich to make “a moral commitment” to “make the world a better place.” each pledge requires a public letter explaining their decision.

warren buffett pledges to give 99% of his wealth to philanthropy, notes that the pledge will leave “untouched” his and his children’s lifestyle, and cites his luck in being born male, white and “in a market system that sometimes produces distorted results,” like “rewarding a great teacher with thank-you notes…in short, fate’s distribution of long straws is wildly capricious. the reaction of my family and me to our extraordinary good fortune is not guilt, but rather gratitude. were we to use more than 1% of my claim checks on ourselves, neither our happiness nor our well-being would be enhanced. In contrast, that remaining 99% can have a huge effect on the health and welfare of others.”