In May, Bill Gates announced his intent to double his foundation’s giving over the next two decades, giving away nearly all of his wealth before shutting down the Gates Foundation completely. His statement accompanying this announcement reaffirmed his philosophy of “giving while living.” This approach emphasizes urgent needs and current calls to action, in contrast to the strategy of accumulating as much wealth as possible to distribute in retirement, upon death, or over multiple generations.
For donors who want to consider the benefits or accelerate their approach of giving while living, the following outlines the genesis of this movement, the value of marrying a sense of urgency with a desire for effectiveness, and the considerations that can help determine when an accelerated approach might be a good fit for your giving.
“There are too many urgent problems to solve for me to hold onto resources that could be used to help people.” – Bill Gates
Since entrepreneur Chuck Feeney established The Atlantic Philanthropies in 1982 to give away all of his wealth during his lifetime, this time-bound mission of “bold bets, big checks, dramatic impact” has inspired many foundations to adopt a giving while living approach. Conversations about philanthropy have shifted to focus not only on what to fund, but when to fund an issue to meet the urgency of the moment. This ethos was supercharged in 2010 with the creation of the Giving Pledge—an effort by Bill Gates, Melinda Gates, and Warren Buffett to get the world’s wealthiest individuals to commit at least half of their wealth to charitable causes, preferably during their lifetimes. The Giving Pledge currently has more than 200 signatories.
The practice of giving while living is not only a consideration for the world’s wealthiest but also for everyday donors who seek to make immediate change in the world.
When considering whether to join the ranks of those giving while living, it can be helpful to reflect on your values and how you hope to express them through your giving. While the focus of philanthropy is often appropriately on the difference that can be made in the lives of others, donors should consider the following additional potential benefits.
If you’ve decided to give while living, it can be daunting to determine the next step. A few key considerations may help you enjoy the process of this pursuit.
Fidelity Charitable offers donor-advised funds for every level of donor who is seeking flexible giving without significant administrative restraints. We are happy to support donors with strategies to make their giving as informed and intentional as possible. These tools and services are prime for donors interested in giving while living, and can help you achieve greater impact while also enhancing your personal philanthropic journey and mission.
As Bill Gates wrote, “I now believe we can achieve the foundation’s goals on a shorter timeline, especially if we double down on key investments and provide more certainty to our partners.”
Tifany Boyles
Director of Philanthropic Strategies, Fidelity Charitable
Tifany Boyles is a director of Philanthropic Strategies for Fidelity Charitable. She joined the Private Donor Group in 2024 and partners with funders to help identify and align their values with their giving, as well as to design effective giving practices that elevate social impact and create sustainable change. Tifany has a passion for strengthening the social sector through building thoughtful giving strategies, purposeful partnerships, and environments for learning and engagement.
Nageeb Sumar
Head of Social Impact, Fidelity Investments
Nageeb Sumar is the Head of Social Impact at Fidelity Investments and is responsible for leading an initiative called Invest in My Education. He served for four years in a leadership position at Fidelity Charitable, partnering with the nation’s most generous donors in their efforts to catalyze social change in the U.S. and abroad. Previously, Nageeb worked at the Bill and Melinda Gates Foundation's Washington, D.C., office, where he oversaw an international team that engaged governments, foundations, and philanthropists to improve the overall effectiveness of the charitable sector.
Want more info before you open a Giving Account?
Sign up to receive occasional news, information and tips that support smarter philanthropic impact through a donor-advised fund.
How Fidelity Charitable can help
Since 1991, we have been a leader in charitable planning and giving solutions, helping donors like you support their favorite charities in smart ways.
Or call us at 800-262-6039