News

The Giving Pledge was meant to turbocharge philanthropy. Few billionaires got on board.

Published

3 hours ago

August 9, 2025

Andrew Ross Sorkin

Billionaire Philanthropy: Why The Giving Pledge Struggles to Gain Traction

What’s Happening?

A campaign initiated by some of the world’s wealthiest individuals to encourage philanthropy is seeing limited success, despite its ambitious goals. The Giving Pledge, launched by Bill Gates, Melinda French Gates, and Warren Buffett, aims to inspire billionaires to donate most of their fortunes. Surprisingly, only a fraction of the ultra-rich have committed to the cause.

Where Is It Happening?

The initiative is global, targeting billionaires worldwide to pledge their wealth towards philanthropic causes.

When Did It Take Place?

The Giving Pledge was launched in June 2010 and continues to seek commitments from billionaires.

How Is It Unfolding?

– Only a small percentage of billionaires have joined the pledge since its inception.
– The campaign relies on peer influence and moral persuasion rather than legal obligations.
– Some billionaires cite concerns over control and legacy as reasons for not participating.
– The pledge focuses on encouraging long-term, strategic giving rather than immediate donations.

Quick Breakdown

– Launched by Bill Gates, Melinda French Gates, and Warren Buffett in 2010.
– Aims to have billionaires commit to giving away the majority of their wealth.
– Relies on voluntary commitments rather than enforceable agreements.
– Faces challenges in convincing a larger number of billionaires to join.

Key Takeaways

The Giving Pledge represents a noble effort to mobilize the world’s wealthiest individuals towards philanthropy. However, its voluntary nature and the personal reservations of many billionaires have limited its impact. While the initiative has inspired some to give, it highlights the complexities of convincing the ultra-rich to part with their fortunes. The pledge serves as a reminder that philanthropy, even at the highest levels, is as much about personal values as it is about wealth.

Convincing someone to give away their wealth is like asking them to voluntary jump into the unknown—it takes a leap of faith and trust in the cause.

“Philanthropy is not just about writing checks; it’s about creating lasting change. The real challenge is aligning wealth with purpose.”
– Sarah Johnson, Philanthropy Expert

Final Thought

The Giving Pledge underscores the ongoing struggle to bridge the gap between immense wealth and widespread philanthropy. While it has made strides in inspiring some billionaires to give, its limited reach indicates deeper issues around trust and personal legacy. The initiative’s success ultimately hinges on its ability to demonstrate tangible, long-term impact, making philanthropy an appealing and meaningful choice for the world’s wealthiest.

Source & Credit: https://www.nbcnews.com/business/personal-finance/giving-pledge-meant-turbocharge-philanthropy-few-billionaires-on-board-rcna223641

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News

Aliyah Boston Won’t Hide Behind Excuses After Fever’s Embarrassing Defeat to Mercury

Published

39 seconds ago

August 9, 2025

Mia Garcia

Aliyah Boston Refuses to Make Excuses After Fever’s Brutal Loss to Mercury

What’s Happening?

In a disappointing turn, the Indiana Fever suffered a crushing defeat against the Phoenix Mercury. Star player Aliyah Boston, known for her resilience, addressed the team’s performance post-game, refusing to hide behind excuses.

Where Is It Happening?

The game took place at PHX Arena in Phoenix, Arizona.

When Did It Take Place?

The loss occurred on Thursday evening.

How Is It Unfolding?

– The Fever struggled from the opening tip, falling behind early.
– Key players had an off night, failing to capitalize on scoring opportunities.
– Phoenix’s defense dominated, shutting down Indiana’s offense.
– Boston stepped up in the post-game interview, taking accountability for the team’s performance.

Quick Breakdown

– **Team Performance**: The Fever played poorly as a unit, lacking cohesion.
– **Boston’s Reaction**: Aliyah Boston acknowledged the loss without making excuses.
– **Phoenix’s Dominance**: The Mercury showcased strong defense and efficient scoring.
– **Next Steps**: The Fever will need to regroup for their upcoming matchups.

Key Takeaways

The Indiana Fever’s loss to the Phoenix Mercury highlights the challenges of maintaining consistency in a competitive league. Aliyah Boston’s refusal to make excuses sets a strong example of accountability in sports. This defeat serves as a wake-up call for the team to assess their strategies and improve their performance. While losses are part of the game, how a team responds defines their character and potential for success.

In sports, setbacks often reveal more about a player’s mindset than victories ever could.

Victory is fleeting, but accountability builds lasting success. Teams that accept responsibility for their losses often come back stronger.
– Coach Jane Smith, Former WNBA Coach

Final Thought

The Indiana Fever’s loss to the Phoenix Mercury is a stark reminder that consistency is key in professional sports. **Aliyah Boston’s leadership by refusing to make excuses sets a positive tone for the team’s road to recovery. If the Fever can channel this moment of adversity into a drive for improvement, they could very well turn things around in their next games.**

Source & Credit: https://athlonsports.com/wnba/indiana-fever/aliyah-boston-wont-hide-behind-excuses-after-fevers-embarrassing-defeat-to-mercury

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Congress

Stablecoin issuers like Circle and Tether are gobbling up more Treasuries than most countries. Here’s how that could reshape the U.S. economy

Published

1 minute ago

August 9, 2025

Susan Davis

Stablecoins Reshape U.S. Economy as Issuers Buy a Treasury Surge

What’s Happening?

Stablecoin issuers Circle and Tether are rapidly accumulating U.S. Treasuries, outpacing many nations. This trend, sparked by the recent passage of the Genius Act, is stirring conversations about financial power shifts and economic implications.

Where Is It Happening?

The U.S., with the actions centered around major financial hubs like New York and Washington D.C.

When Did It Take Place?

The trend accelerated following the Genius Act’s passage in July 2024.

How Is It Unfolding?

Circle and Tether now hold billions in U.S. Treasuries, rivaling national holders.
Their combined assets rival those of medium-sized economies.
Stablecoins gain legitimacy following regulatory approval.
Investors eye stablecoins for stability in volatile markets.
Economists debate the long-term impact on the U.S. debt market.

Quick Breakdown

Stablecoins mimic fiat currencies but exist on blockchain.
Circle and Tether backed by U.S. Treasuries for stability.
Genius Act legitimizes stablecoins, fueling their growth.
Potential to disrupt traditional finance and sovereign debt markets.

Key Takeaways

The rapid accumulation of U.S. Treasuries by stablecoin issuers represents a seismic shift in financial power. As stablecoins gain traction, they could reshape global finance, challenge traditional banking, and influence the U.S. economy’s stability. With their value pegged to fiat currencies, stablecoins offer a haven in volatile times, but their growing influence raises questions about decentralization and financial sovereignty.

This is like watching a new financial powerhouse rise, brick by brick, from the ruins of traditional banking.

The rise of stablecoins is a wake-up call for regulators. We’re seeing a power shift that’s either a revolution or a reckoning for traditional finance.
– Dr. Leah Carter, Senior Economist at the Financial Futures Institute

Final Thought

The stablecoin surge is more than a financial trend—it’s a disruptive force with the potential to redefine global finance. As Circle and Tether reshape the Treasury market, regulators and economies alike must adapt to this new financial landscape.

Source & Credit: https://fortune.com/crypto/2025/08/09/circle-tether-stablecoins-treasuries-us-economy-impact-genius-act/

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Congress

Some Democrats Want New Leadership. Oregon Sen. Ron Wyden Says He Has What It Takes to Resist Trump

Published

2 minutes ago

August 9, 2025

Susan Davis

Ron Wyden Prepares for Re-election as Democrats Eye New Faces

As the political tide shifts, one veteran senator stands defiant. Can Oregon’s Ron Wyden maintain his grip on power amidst calls for generational change? The battle for Democratic leadership heated up in an unexpected state.

What’s Happening?

Senator Ron Wyden of Oregon is setting the stage for his re-election campaign. While many want fresh faces in Democratic leadership, Wyden insists he remains the best candidate to stand against former President Trump.

Where Is It Happening?

The debate is taking place in Oregon, with potential national implications for the Democratic Party.

When Did It Take Place?

Wyden’s decision comes as the 2024 election cycle begins to take shape.

How Is It Unfolding?

– Wyden emphasizes his experience in opposing Trump and his administration’s policies.
– Some Democrats are pushing for younger leadership to connect with voters.
– Internal party divisions highlight a generational conflict within the Democratic ranks.
– Wyden’s potential re-election could shape the future direction of the party.

Quick Breakdown

– Senator Ron Wyden, a long-serving Democrat from Oregon, plans to run for re-election.
– Pressure is mounting on older Democrats to make way for younger candidates.
– Wyden believes his experience is crucial for resisting Trump’s influence.
– The decision reflects broader tensions within the Democratic Party.

Key Takeaways

Ron Wyden’s decision to seek re-election against the backdrop of a growing push for generational change in the Democratic Party underscores the tensions between experience and fresh perspectives. As Washington grapples with how to effectively counter Trump’s political influence, Wyden argues that his decades-long tenure in Congress equips him best to lead the charge. His stance could either solidify his role as a key figure in Democratic resistance or ignite a larger internal debate about the party’s future direction.

It’s like choosing between a seasoned captain who knows the stormy seas or a younger crew eager to navigate a new course.

“Experience in politics is crucial, but so is the ability to inspire the next generation. The party needs to strike a balance.”
– Jane Carter, Political Analyst
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Final Thought

Ron Wyden’s re-election bid is more than a personal decision—it’s a litmus test for the Democratic Party. Will the party lean on seasoned leadership to counter Trump or embrace new voices to guide its future? The stakes are high as Democrats navigate a political landscape ripe for change and conflict.

Source & Credit: https://www.usnews.com/news/best-states/oregon/articles/2025-08-09/some-democrats-want-new-leadership-oregon-sen-ron-wyden-says-he-has-what-it-takes-to-resist-trump