The Giving Pledge was designed to hold the world’s richest people accountable for donating at least half their fortunes in their lifetimes or wills–but so far, only John and Laura Arnold have actually done it.
From well-known Wall Street energy trader to philanthropist, John Arnold began his career trading natural gas at Enron and later ran a hedge fund, Centaurus Partners. By 2012, he had retired and fully pivoted to philanthropy at 38 years old.
The Arnolds have donated over $2 billion to date, and more than $204 million in 2024, according to Forbes. Currently, their net worth is around $2.9 billion, meaning their donations amount to about 42 percent of their wealth.
In addition, John Arnold has a Forbes philanthropy score of 5 out of 5. The score is based on those who have donated more than 20% of their wealth.
Since launching their foundation, “Arnold Ventures,” in 2008, their philanthropic efforts have expanded to 150 employees across offices in New York City, Washington, D.C., and Houston.
How the Arnolds donate
John and Laura Arnolds’ approach to giving is data-driven, aiming to deliver real, measurable results from what they offer, and has been fundamentally focused on research. Their efforts include a variety of public policy issues, including health care, higher education, criminal justice, infrastructure, and more.
Emphasizing research and measurable outcomes, their philanthropy also reflects a broader belief that wealth should be used in real time—not preserved for future generations. In fact, John Arnold has previously noted that The Arnolds will not have a legacy foundation after their deaths.
Most recently, “Arnold Ventures” joined the American Institute for Boys and Men to issue a call for new research on the long-term consequences of online sports betting as states continue to legalize the practice.
The Giving Pledge
Launched in 2010 by Bill and Melinda French Gates and Warren Buffett, the Giving Pledge invites the world’s wealthiest individuals and families to publicly commit to giving away at least 50% of their wealth to philanthropy, either during their lifetimes or in their wills.
Some of the signers include Bezos’s ex-wife MacKenzie Scott (but not Jeff Bezos), Michael Bloomberg, Elon Musk, George Lucas, and Mark Zuckerberg.
Despite hundreds of billionaires signing the Giving Pledge, they haven’t necessarily followed through. The pledge is a moral commitment rather than a legally binding contract—participants sign an open letter explaining their reasons for giving. They can choose which causes and charities to support.
The Institute for Policy Studies’ 2025 report, The Giving Pledge at 15, highlights that Laura and John were the only participants technically in compliance with the pledge since signing in 2010.
“The Arnolds should be commended, they’ve boldly decided to give and to study how philanthropy can actually move money out the door instead of sequestering wealth. They’re among the most significant players in the Giving Pledge class when it comes to pushing real charity reform,” report co-author Bella DeVaan told Fortune in an interview.
Among the 22 deceased U.S. Pledgers, only eight met their pledge before death—just one, Chuck Feeney, gave away his entire fortune while alive.
Furthermore, of the original 57 U.S. signers in 2010, 32 remain billionaires, with their net worth increasing by almost 300% since signing. Only 11 of the original group are no longer billionaires—but it’s mainly because their net worth dropped, not because they gave it away.
“Wealth is accumulating incredibly quickly for the wealthiest people in America,” DeVaan added. The Giving Pledge is one of the few public commitments they make in lieu of stronger federal regulation or taxation—so its fulfillment is really important.”
John Arnold recently defended The Giving Pledge on X following a Fortune report about Peter Thiel saying he encouraged Elon Musk to abandon it due to concerns that his wealth would be donated to “left-wing nonprofits.”
“The multitude of billion-dollar fortunes, whether in the 1s, 10s, or 100s, have the potential to be put to enormous benefit,” Arnold wrote. “I won’t offer unsolicited advice as to what I think someone should do with their money. I’d only suggest that figuring out what to do with it in a productive fashion can be as important as trying to make more.”
