Tanya Masiyiwa, the daughter of Zimbabwean telecom billionaire Strive Masiyiwa, credits her mother for pushing her to attend her first Next Gen meeting in 2015. This gathering of children and grandchildren of Giving Pledge signers sparked her interest in philanthropy and led her to join her family’s foundation, the Higherlife Foundation. She now serves as the President and CEO of both the Higherlife Foundation and Delta Philanthropies, which support various causes in Zimbabwe and other African countries.
The Next Gen group, established by the Giving Pledge in 2014, provides a community for its members to explore philanthropy and share resources. The members are kept confidential unless they choose to go public. The upcoming annual gathering in California, which will bring together about 100 Next Gen members, is significant as many Giving Pledge members are aging, and there is a considerable intergenerational transfer of wealth happening. This transfer includes fulfilling the pledge to give away at least half of their fortune during their lifetimes or through their wills.
Katherine Lorenz, granddaughter of the late natural gas billionaire George P. Mitchell, has been actively involved in her family’s philanthropy and has been leading the Giving Pledge’s Next Gen group since its inception. The group has grown to 300 members from around the world, ranging in age from 21 to 75, and meets regularly to discuss philanthropic topics, raise children with philanthropic values, and facilitate difficult conversations within families about charitable giving.
The Next Gen group has also sparked conversations about the pace of charitable giving, with some members advocating for faster spending down of foundations to have a more immediate impact. Chuck Feeney’s Atlantic Philanthropies, which gave away all its assets before his death, has inspired some families to consider accelerated spending down strategies. The Next Gen group encourages open dialogue within families about philanthropic plans and goals, preparing the next generation to continue the legacy of giving.
The recent decision by Melinda French Gates to leave the Gates Foundation will likely be a topic of informal discussion at the upcoming gathering. French Gates was a co-founder of the Giving Pledge and her departure may impact the future of the organization. However, the commitment of the Pledge’s members to philanthropy remains strong, and discussions at the gathering and beyond will shape how billions of philanthropic dollars are distributed and impact communities worldwide.
These discussions among philanthropists, including Next Gen members and the older Giving Pledge signers, are crucial in determining the future of charitable giving. The ripple effects of their decisions will have a significant impact on global philanthropy and the lives of those in need. The Next Gen group plays a vital role in preparing the next generation of philanthropists to continue the legacy of giving and making a difference in the world.
