Hastings, Moore, Wadhwani sign Giving Pledge

Three more of Silicon Valley’s wealthiest residents have signed on to the Giving Pledge, the campaign sponsored by Bill Gates and Warren Buffett that tries to egg the world’s billionaires into giving away half their fortunes to philanthropy.

The latest pledges come from Netflix CEO Reed Hastings, retired Intel chairman Gordon Moore and Symphony Technology Group’s Romesh Wadhwani and their wives.

Hastings isn’t strictly speaking a billionaire, although he may have been before Netflix shares began sliding last year. Today he controls about 4.4 percent of Netflix and also is an investor in Facebook and Microsoft; some sources estimate his net worth at close to $300 million.  He and his wife, Patty Quillen, are known for supporting educational causes including the charter schools movement.

Moore used much of his fortune from co-founding Intel to establish the Gordon and Betty Moore Foundation, which supports a variety of scientific, environmental and health-related efforts.  Forbes recently estimated his wealth at $4.9 billion.

Wadhwani has a much lower profile, but he’s known in financial circles as founder of a Palo Alto-based private equity firm that focuses on investing in a variety of commercial software and tech services companies. His Wadhwani Foundation supports economic development in India. Forbes pegs his fortune at $2 billion.

The Giving Pledge doesn’t require participants to give all their money away at once, but they’re asked to commit to distributing half their wealth to charities or philanthropic causes over their lifetimes. Earlier signatories from Silicon Valley include Larry Ellison, Elon Musk, Mark Zuckerberg and Vinod Khosla.

 

Brandon Bailey Brandon Bailey (281 Posts)

Brandon Bailey covers Google, Facebook and Yahoo for the San Jose Mercury News, reporting on the business and culture of the Internet.