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15 hours ago

How the rich got stingy

Elon Musk in the Oval Office of the White House on May 30, 2025. | Allison Robbert/AFP via Getty Images Historically, being ultra-wealthy meant that there was an obligation to share a chunk of it with the world. Gilded Age industrialists like John D. Rockefeller and Andrew Carnegie made lasting cultural and philanthropic contributions, many of which still bear their names. But increasingly, our modern billionaires don’t seem inclined to follow suit. To show just how little they’ve given, let’s look at the Giving Pledge. Over 15 years ago, some of America’s ultra-rich promised to give...