August 4, 2010 | Read Time: 1 minute
One of the most fascinating things about Wednesday’s announcement that 40 billionaires have promised to give away at least half of their fortunes to charity is their pledge letters, writes Sean Stannard-Stockton, a Chronicle columnist, in his blog. The letters, now posted online, “offer an amazing insight into the philanthropic impulse and will certainly become a standard part of philanthropy education efforts.”
To Mr. Stannard-Stockton, the terse pledge of Larry Ellison, head of the technology company Oracle, is the most compelling. He says Mr. Ellison is usually portrayed as a freewheeling big spender in the press but has been very private about his philanthropy (until now).
Mr. Ellison’s letter makes it clear that he’s going public only because fellow billionaire Warren Buffett asked him to set an example that would influence others to give. Mr. Stannard-Stockton hopes those others will include people “from every walk of life, not just billionaires.”
As he concludes: “If Larry Ellison can sign the pledge, maybe my hopes for a Second Great Wave of Philanthropy aren’t so far-fetched.”
