The Giving Pledge, a philanthropic initiative co-founded by Warren Buffett that encourages the richest people to donate 99.9 percent of their wealth to the poor in their lifetime, has become a popular framework among wealthy donors. But for tech entrepreneur Jeff Atwood, a key piece is missing. “When will this treasure be transferred?” asked Atwood in a blog published on Jan. 7. “I appreciate Buffett,” he added, but “for me this oath was not complete.”
Atwood, 55, the founder of code Q&A site Stack Exchange and discussion forum Discourse, is putting her own spin on the Giving Pledge by pledging to give away half of her fortune within the next five years. And he hits the ground running. The software developer has already made eight separate $1 million donations to organizations including Team Rubicon, a crisis response group; PEN America, a nonprofit organization that represents writers; and the Trevor Project, an LGBTQ youth suicide prevention organization.
“This example of philanthropy based on trust allows us to help communities immediately,” said Art delaCruz, CEO of Team Rubicon, in a statement to the Observer. Maayan Dauber, PEN America's chief development officer, described Atwood's contribution as “strengthening our work in the US to ensure that writers can continue to find an audience for works that bring meaning to our lives,” in a statement sent to the Observer.
Saving the American Dream
Underpinning Atwood's philanthropic goals is a desire to combat growing inequality across the US. “Housing, health care and education costs have risen far faster than the pace of inflation and wage growth,” Atwood said in a recent blog post, pointing to unequal wealth. accumulated by the world's richest 1 percent, who amassed 63 percent of all new wealth between 2020 and 2022.
Atwood, who came from humble beginnings in Virginia and is now based in Alameda, California, has reportedly made an estimated $100 million in the 2021 sale of Stack Overflow, a developer-focused website owned by Stack Exchange. But instead of passing on the bulk of this wealth to her children, who she said would be provided with enough money to pay for college and buy homes, Atwood wants to allocate her wealth to bolster “reach for the American dream.”
His promise was inspired in part by the recent presidential election, according to Atwood, which highlighted the highest levels in political history and the 42 percent of Americans who did not vote or could not vote. “Our status as the leading democratic country in the world is being talked about,” he said.
Although Atwood declined to specify the exact amount she intends to donate, her first round of donations is just the beginning. By 2030, he hopes to have invested in long-term efforts that prioritize protecting democratic institutions and making it easier for Americans to vote, in addition to creating an organization that takes inspiration from the nonprofit RAND Corporation or Lever for Change, an organization that helps donors with funding opportunities.
“Now is the time to share the wealth that I will be lucky enough to receive within the next five years, not only for my family, but for all of my fellow Americans,” he said.
