Mackenzie Bezos is the only true altruistic billionaire

When the Giving Pledge first came out and signed by a bunch of billionaires, the world felt like a better place. All these billionaires were acting selflessly in the face of world screaming in need of help. So what is the Giving Pledge The Giving Pledge is a commitment by billionaires to voluntarily give most of their wealth to charitable causes either during their lifetimes or in their wills as bequests to be made after death.

The Giving Pledge is noble in spirit, but just like changing your profile picture to include the rainbow flag on Facebook, it doesn't change much. The Giving Pledge isn't actually a legally binding commitment to give away their wealth nor does it require them to give away their wealth earlier than later. It doesn't stop them to give their wealth to causes or charities controlled them or their families. The Giving Pledge makes for great PR for the people who signed it.

Many people have signed the Giving Pledge, which you can see on their website. I can't say for certain whether all who signed have altruistic motives or not, but it sure makes for great PR and virtue signaling to be on the list. That PR has a very long runaway as you don't technically have to give away any wealth until you're dead. Also, are there any consequences if they break this pledge? Even I can sign it as there's no consequences if I don't end up donating my wealth after I'm dead.

I believe the millionaires on the list are more likely to actually donate their wealth over the billionaires. Millionaires are less likely to setup their own charities but instead donate to existing ones. Billionaires, on the other hand, create charities and donate their wealth to them. These charities are almost always controlled by them or their family. Bill Gates is a prominent example. He's donate most of his wealth to the Bill and Melinda Gates Foundation. Even though he should be "poor" by billionaires' standards, he's not. He still effectively controls his wealth via his charity.

Some will give billionaires the benefit of doubt as they haven't fulfilled their Giving Pledge as they're still alive. But after death, it's still not certain their wealth will be given away. Take for example, Paul Allen who died of cancer in 2018. Shouldn't their wealth be donated once they're dead? In Paul Allen's case, no. His sister controls his wealth now.

So what does all this have to do with Mackenzie Bezos? She's on the Giving Pledge, but unlike her billionaires counterparts, is actively donating her wealth to charities not controlled by herself. Her donations usually have no strings attached and are funds are immediate. She's not waiting until the very end to give away her wealth, she's trying to donate it all away now. There might be single digit billionaires who've donated their money just like her, but of all the mega billionaires, Mackenzie is the only one that is truly giving it all away.

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