Buffett Joined by 12 Families Pledging Wealth to Charity

Photographer: Nelson Ching/Bloomberg

Warren Buffett, chairman of Berkshire Hathaway Inc., left, and Bill Gates, of the Bill and Melinda Gates Foundation. Close

Warren Buffett, chairman of Berkshire Hathaway Inc., left, and Bill Gates, of the Bill... Read More

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Photographer: Nelson Ching/Bloomberg

Warren Buffett, chairman of Berkshire Hathaway Inc., left, and Bill Gates, of the Bill and Melinda Gates Foundation.

Twelve families promised to donate most of their wealth to philanthropy, joining the Giving Pledge initiative started by Warren Buffett and Bill and Melinda Gates.

The families include hedge-fund manager Bill Ackman and his wife Karen, Tesla Motors Inc. (TSLA)’s billionaire owner Elon Musk and film producer Steve Bing, according to an e-mailed statement from the initiative.

Arthur M. Blank, Edgar M. Bronfman, Glenn and Eva Dubin, Red and Charline McCombs, Michael Moritz and Harriet Heyman, John and Ginger Sall, Henry and Susan Samueli, John A. and Susan Sobrato, John Michael Sobrato, and Ted and Vada Stanley also signed the pledge.

“They come from different backgrounds, but share a common desire to see positive change in our world,” Buffett said in the statement. “We’ve said from the beginning that this is a long-term effort, but I’m particularly pleased to see continued momentum in encouraging greater and more thoughtful philanthropy.”

Buffett, 81, is the third-richest man in the world, according to the Bloomberg Billionaires Index, a daily ranking of the wealthiest people on Earth. He has a net worth of $44.6 billion. Gates, 56, ranks second with a $62.7 billion fortune.

To contact the reporter on this story: Alexander Cuadros in Sao Paulo at acuadros@bloomberg.net

Photographer: Peter Foley/Bloomberg

William "Bill" Ackman, founder and chief executive officer of Pershing Square Capital Management LP. Close

William "Bill" Ackman, founder and chief executive officer of Pershing Square Capital Management LP.

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Photographer: Peter Foley/Bloomberg

William "Bill" Ackman, founder and chief executive officer of Pershing Square Capital Management LP.

To contact the editor responsible for this story: Matthew G. Miller at mmiller144@bloomberg.net

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