Billionaire Philanthropist John Arnold Commits to the Give While You Live Promise, Pledges to Give Away 5% of His Wealth Annually
Monday, April 5, 2021
(New York, New York | Washington, D.C. | Monday, April 5, 2021) – The Initiative to Accelerate Charitable Giving and international advocacy organization Global Citizen’s Give While You Live campaign today announced an alliance to come together to try and unlock billions of charitable dollars currently pledged, or sitting in private foundations and donor-advised funds. Led by billionaire philanthropists John and Laura Arnold, the Initiative to Accelerate Charitable Giving is a coalition of philanthropists, leaders of major foundations, nonprofits and others who represent a broad spectrum of interests across philanthropy, dedicated to finding common sense solutions to ensure philanthropic dollars reach working charities and the communities they serve. Launched in January 2020, Global Citizen’s Give While You Live campaign is calling on the world’s billionaires to go further faster, by giving a minimum of 5% of their wealth away per year. The two organizations are coming together to accelerate philanthropy and increase funding and resources to organizations working to meet the most pressing challenges of the day. To show their commitment to this cause, John and Laura Arnold have committed to the Give While You Live Promise to give away 5% of their wealth annually.
“Right now, many charities are in danger of not surviving the pandemic. Yet, more than $1 trillion promised to them remains warehoused in tax-free investment accounts. America’s charities cannot afford to wait for some larger crisis to arise. Business as usual is simply not good enough,” said John Arnold, founder and co-chair of Arnold Ventures. “The Initiative to Accelerate Charitable Giving is proud to have Global Citizen as a partner to strengthen the charitable sector and unlock much-needed resources for nonprofits and people in need. Now is the time to transform philanthropic commitments into philanthropic action.”
Chris Stadler, co-chair of the Global Citizen board of directors and a managing partner at CVC Capital Partners, has led the Give While You Live campaign which launched at the World Economic Forum in 2020 and garnered support from artists, philanthropists, corporations and foundations worldwide.
"John Arnold is a philanthropic leader who understands that the world's wealthiest need to do more and give more, now, not later," said Chris Stadler, board co-chair for Global Citizen and a managing partner of CVC Capital Partners. "We are thrilled to have his pledge and support of the Give While You Live campaign and to be partnering with the Initiative to Accelerate Charitable Giving to unlock billions of philanthropic dollars the world desperately needs."
Global Citizen is the world's largest movement of action takers and impact makers dedicated to ending extreme poverty by 2030. With over 10 million monthly advocates, our voices have the power to drive lasting change around sustainability, equality, and humanity. We post, tweet, message, vote, sign, and call to inspire those who can make things happen to act — government leaders, businesses, philanthropists, artists, and citizens — together improving lives. By downloading our app, Global Citizens learn about the systemic causes of extreme poverty, take action on those issues, and earn rewards with tickets to concerts, events, and experiences all over the world. To date, the actions of our community, along with high-level advocacy efforts and work with partners, has resulted in commitments and policy announcements from leaders valued at $48.4 billion, affecting the lives of more than 880 million people. During last year's Global Citizen hosted campaigns, One World: Together at Home and Global Goal: Unite for Our Future, we mobilized over $1.5 billion in cash grants, with over $1.1 billion being already disbursed. For more information, visit globalcitizen.org.
The Initiative to Accelerate Charitable Giving (IACG) is a broad coalition of philanthropists, leaders of major foundations, nonprofits and others who represent a broad spectrum of interests across philanthropy. IACG is dedicated to promoting common-sense, non-partisan federal policy reforms that close tax loopholes and re-establish charities as the center of charitable giving laws. For more information, visit acceleratecharitablegiving.org.