Tired of Losses? Try Gigapips!

Stop losing and start earning on Forex with GigaPips MT4 EA. This expert advisor avoids risky strategies like Grid, Hedge, Arbitrage or Scalping. With WinRate above 66%, DrawDown below 38% and yearly profits averaging over 100%. GigaPips is well optimized for XAUUSD H1 using high-quality tick data from DukasCopy since 2016 till present. Features include spread filters, slippage protection, and equity safeguards.

Tech founder pledges to give away half his wealth to make the American dream more possible

THALIA BEATY
January 17, 2025

Unfair. Astonishing. Un-American.

That is how tech entrepreneur Jeff Atwood sees the staggering wealth inequality in the U.S. today. In response, he and his family have pledged to give away half their wealth within five years, starting with $1 million gifts to eight nonprofits this month.

His warning about the dangers of growing inequity was echoed by outgoing President Joe Biden in his final primetime speech Wednesday.

"Today, an oligarchy is taking shape in America of extreme wealth, power and influence that literally threatens our entire democracy, our basic rights and freedoms, and a fair shot for everyone to get ahead," Biden said.

Atwood, who co-founded Stack Overflow, a popular forum for software developers, made the pledge Jan. 7 in a blog post.

"The American dream isn't about just getting rich. It's about everyone succeeding," said Atwood, in an interview with The Associated Press from his home in the Bay Area.

Atwood said the inequity reduces hope in the American dream, which he sees as the possibility of being "rewarded handsomely for a combination of hard work and good luck."

Atwood's initial gifts support a range of nonprofits, from PEN America, which advocates for free speech, to reproductive health organization Planned Parenthood to Team Rubicon, a disaster response organization.

"What's unique about his donation is, it's essentially built on trust," said Art delaCruz, CEO of Team Rubicon, saying the gift had come out of the blue.

The commitment to give away half of his family's wealth is unusual even among the richest people. And beyond giving his own money away, Atwood sincerely hopes to move others to action.

"I want people to still believe that this is possible," he said of the American dream. "Like the land of opportunity, because I lived it. And it was such it was an amazing dream and I'm honored to have done it. But I gotta share it."

The sale of Stack Overflow for $1.6 billion in 2021 made Atwood, his co-founder and early employees wildly wealthy compared to the vast majority of Americans, but it did not launch him into the inner ring of Silicon Valley's titans. In other words, he's no billionaire.

Atwood didn't want to disclose exactly how much he planned to give away, though it's safe to say he has tens of millions more lined up to donate. But what he really wants is to inspire more people to believe that it's possible to create a more affordable and livable economy.

"I want everyone to feel like they can do something because there's a lot of hopelessness out there -- like, 'We're just so screwed. There's nothing we can do'," he said.

Deborah Small, a professor at Yale School of Management, said there is a risk of looking like you're burnishing your reputation and virtue signaling by talking about your giving. But it can also help increase your impact by influencing others to give.

"If we want to increase philanthropy in the world, our evidence suggests that the more public we are, the better outcomes we can achieve for philanthropy," she said.

Writing on his long-running blog, "Coding Horror," Atwood also pointed to the plurality of Americans who don't vote as a sign of the deterioration of American's faith in the future. He said the recent election had raised the stakes but was quick to emphasize in an interview that he's not committed to any political party.

"I like good leaders. I don't care what you're ideology is. What I care about is, are you creating humans that can help us build a better world? And those are the organizations I support," he said.

In pledging to give away half of his wealth, Atwood is following in the footsteps of a group of even wealthier people. In 2010, Warren Buffett, Bill Gates and Melinda French Gates started the Giving Pledge, which invites billionaires -- exclusively -- to commit to giving away more than half of their wealth in their lifetimes or at the time of their death. So far, 244 have joined.

Atwood said he was inspired by the pledge but is adding a time element of five years to move the money.

Another pledge started by leaders in the effective altruism movement invites anyone to promise to give away 10% of their income each year to charities they define as effective. Since 2009, the group that sponsors the pledge, Giving What We Can, reports more than 9,500 people have signed on.

Atwood spoke earnestly about his dedication to the United State's founding ideals as set out by Thomas Jefferson. He attended the University of Virginia, which Jefferson founded, and wrote about scraping together his tuition through part-time jobs. In his blog post announcing the donations, Atwood also referenced the 1967 novel "The Outsiders," by S.E. Hinton, and particularly, a recitation of the Robert Frost poem, "Nothing Gold Can Stay." It's a meditation on how fleeting life can be.

He said he decided on giving away half his wealth because that seemed fair.

"When you get to this level of wealth, you really see how difficult it is for everyone else and it's unfair," Atwood said. "And some unfairness is okay. I'm not saying we're socialists here. I'm not in anyway saying that, but I want everyone to have a fair shot. I think that's right. That's the way it should be. Everyone should have a chance."

___

Associated Press coverage of philanthropy and nonprofits receives support through the AP's collaboration with The Conversation US, with funding from Lilly Endowment Inc. The AP is solely responsible for this content. For all of AP's philanthropy coverage, visit https://apnews.com/hub/philanthropy.

Continue Reading...

Popular

South Carolina treasurer calls questions of his role in $1.8 billion accounting error a witch hunt

COLUMBIA, S.C. (AP) — South Carolina Treasurer Curtis Loftis said Wednesday that calls for him to resign over that left the state trying to figure out what happened to a $1.8 billion fund amounted to a witch hunt.

Nvidia faces a reckoning as an upstart rival raises questions about Wall Street's darling

NEW YORK (AP) — The superstar run for Nvidia’s stock the last few years has been astonishing. So was its tumble Monday, which caused $595 billion in wealth to vanish. That’s about as much as PepsiCo, McDonalds, Starbucks and Target are worth, combined.

Trump Could Make Surprising Tech Announcement Any Day - Ad

I want to show you a free demonstration. Of one of the most incredible technologies you've ever seen. You'll be getting a peek at the cutting edge... A decade from now, you'll remember where you were when you saw this video.

Dubai's ceaseless boom is putting strains on its residents

DUBAI, United Arab Emirates (AP) — — and some residents are starting to feel burned.

"Trump Coins:" the Next Big Thing - Ad

Have you heard of "Trump Coins?" Even though these coins are associated with or endorsed by President Trump... Tech legend Jeff Brown believes his policies will help send these coins higher than anyone can imagine in 2025.

NASA's 2 stuck astronauts take their first spacewalk together

CAPE CANAVERAL, Fla. (AP) — NASA’s took their first spacewalk together Thursday, exiting the International Space Station almost eight months after moving in.

Edmunds' hybrid SUV test: 2025 Hyundai Tucson Hybrid vs 2025 Toyota RAV4 Hybrid

Hybrids are hot right now, and you have lots of choices if you’re considering a hybrid SUV. For years, the Toyota RAV4 Hybrid has been the go-to model for hybrid SUV shoppers.

Crypto Stocks Are Heating Up - Ad

At the center of this transformation is a game-changing platform that's experiencing explosive growth with $41 million in revenue in just nine months. The stock has doubled in the last 45 days, but this is only the beginning.

Asset allocation when you have enough

I recently chatted with a retired couple who were looking for a second opinion about their portfolio’s . The key question: Is 65% in stocks too high for someone in their situation? Here, I’ll walk through some ideas about how to think through these issues.

Magnificent 7 Earnings Ahead: 3 ETFs To Ride The Wave

Earnings season in full swing, attention on tech giants known as Magnificent 7: 3 ETFs to consider.

Elon Musk's Critical Metals Warning: What Investors Need to Know - Ad

Elon Musk has repeatedly warned about the looming critical metals crisis, calling materials like nickel, copper, and PGMs essential to Tesla's future. One Canadian discovery in Quebec is drawing comparisons to Russia's Norilsk Mine and has the potential to reshape global supply chains. With heavyweight backers and a fully funded exploration plan, this opportunity demands attention.

6 Clean Energy Stocks Face Challenges, Opportunities Ahead Of Earnings

Analyst revises ratings/price forecast on clean energy stocks ahead of earnings release. Highlights key areas to watch for each company.

Stryker's Strategic Moves Impress Analysts, Spine Implant Sale and NARI Deal Set to Drive Future Growth

Wall Street analysts upgraded Stryker Corp (NYSE: SYK) after its Q4 report beat expectations, with strong sales and earnings growth projected for 2025.

The Most Brain-Dead Simple Way to Make Money... on Earth - Ad

First, he turned $50,000 into $5.3 million... now watch as this legendary trader reveals how you can use his easy "profit window trick" to pinpoint trades that deliver gains of 116%... 137%... and even 227%... In weeks (not years).

UK Treasury chief backs third runway at London's Heathrow Airport

LONDON (AP) — The U.K. government is backing the construction of a third runway at London’s Heathrow Airport, Treasury chief Rachel Reeves said Wednesday.

This Electric Boating Stock Has Potential To Soar - Ad

While competitors struggle, one company is leading the electric boating industry with scalable production, strategic partnerships, and a revolutionary powertrain. In a market set to move, this stock is quietly gaining momentum.

F5 Sees Big Wins in Multi-Cloud, AI Security, and IT Refresh, Analysts Forecast More Upside

F5 Inc (NASDAQ: FFIV) reported strong Q1 results, beating revenue and EPS estimates. The stock gained as analysts raised price targets and expectations for further growth from IT budgets, data center refresh, and AI demand.

Looking for a Low-Risk Trade? You Need to See This - Ad

He quit his job as a high-powered attorney at the age of 37 and became a million-dollar trader. Now -- for the first time -- he's sharing his biggest secret... one he calls "profit windows." Discover how this simple 'trick' pinpoints trades for you that deliver gains of 116%... 137%... and even 227%... In weeks (NOT years).

Fartcoin Loses Shine Against SHIB, DOGE, Plunges 50% In 7 Days: Is This A Prime Buying Opportunity?

Fartcoin (CRYPTO: FARTCOIN) has dropped significantly from highs set one week ago, but traders on social media remain adamant about the meme coin’s future prospects.

Seven Unknown AI Stocks That Could Dominate the Next Six Years - Ad

The original "Magnificent Seven" stocks generated 16,800% over the last 20 years. But now a new set of AI stocks is set to take over. Alex Green dubs them "The Next Magnificent Seven." And he's arguing that just $1,000 in each could turn into more than $1 million in less than six years.

MrBeast And Group Of Investors, Including Roblox CEO, Lock In Over $20 Billion For TikTok Takeover

A group of American investors, including YouTube star MrBeast and Roblox CEO David Baszucki, has secured over $20 billion for a potential TikTok takeover, but ByteDance has yet to respond to their bid.

Mark Zuckerberg Says China's DeepSeek Did Some Novel Things 'We're Still Digesting,' But Meta May Keep Pouring Billions Into AI Infrastructure Anyway

Meta CEO Mark Zuckerberg acknowledged that China's DeepSeek made novel advancements that Meta is still evaluating but emphasized that the company will continue investing billions in AI infrastructure, seeing it as a long-term strategic advantage.

Unlocking a Polymetallic Discovery Like No Other - Ad

With drill results rivaling the best in the world and a fully funded 2025 program, this polymetallic stock is poised for major growth. Industry icons Robert Friedland and Rob McEwen are already in. Will you be next?

Senate confirms Zeldin to lead Environmental Protection Agency as Trump vows to cut climate rules

WASHINGTON (AP) — The Republican-controlled Senate on Wednesday confirmed Lee Zeldin to lead the Environmental Protection Agency, a key role to help President Donald Trump fulfill his pledge to roll back major environmental regulations, including those aimed at slowing climate change and encouraging use of electric vehicles.

Nvidia Says DeepSeek An 'Illustration' Of How New AI Models Can Be Created While Being Export-Control Compliant Amid $600 Billion Market Value Plunge

Nvidia Corp. has thrown its support behind China's DeepSeek R1 artificial intelligence model, calling it "an excellent AI advancement" even as the startup's emergence triggered a historic $600 billion plunge in the chipmaker's market value on Monday.

Is This Defi Coin Your Next "10-Bagger" Investment? - Ad

Our #1 pick in decentralized finance is largely overlooked by mainstream investors (for now). This governance token could skyrocket as DeFi adoption surges with the smart money and institutions.

Robert Kiyosaki Foresees Bitcoin Surpassing US Dollar As 'Good Money'

Robert Kiyosaki, the acclaimed author of “Rich Dad Poor Dad,” has reiterated his preference for Bitcoin (CRYPTO: BTC) over

Crypto Stocks Are Heating Up - Ad

At the center of this transformation is a game-changing platform that's experiencing explosive growth with $41 million in revenue in just nine months. The stock has doubled in the last 45 days, but this is only the beginning.

Stock market today: Asia shares mostly rise while some regional markets stay closed for holidays

TOKYO (AP) — Asian shares mostly rose Thursday after the U.S. Federal Reserve opted for the first time since it began trying to help through easier rates in September.

Meat and greet: Historic London market counting down the years

LONDON (AP) — Norman Gregory is an institution within an institution. He’s been working at the historic Smithfield wholesale meat market in central London since 1961, witnessing first hand the rapid transformation of the capital over the decades.

Love or Hate Him -- You Have To See What Elon Could Do Next - Ad

It's not electric vehicles, green energy or space travel that Elon Musk will be remembered for.

Spain's leader wants the EU to 'make social media great again.' Here's how

DAVOS, Switzerland (AP) — Spanish Prime Minister is launching a crusade against what he sees as the downsides of .

Chubb CEO Expects $1.5 Billion Loss From LA Wildfires: 'California Is A Difficult Market For Insurance Companies'

Chubb held its fourth-quarter earnings call on Wednesday and addressed the future financial impacts resulting from the recent California wildfires. 

Top AI Stocks for 2025 - Ad

My 2025 AI Blueprint features three of what I call Nvidia's "Silent Partners." Some of the world's hottest companies are working with AI's undisputed leader, Nvidia. And I've identified three of them that appear to be well-positioned for the next AI boom in 2025. Everything you need to know about them in my 2025 AI Blueprint.

DeepSeek Suffers 'Degraded Performance,' Says Hit By 'Large-Scale Malicious Attacks' After Rapidly Emerging As App Store Chart Topper

Chinese AI startup DeepSeek faced significant cyberattacks amid its rapid rise, including topping the U.S. App Store and challenging AI giants with its cost-effective R1 language model.

Trending Now

Information, charts or examples are for illustration and educational purposes only and not for individualized investment management This message contains commercial elements, such as advertising. We only send these offers to those who have opted in to our newsletter. Past performance is not indicative of future results. For these reasons we strongly suggest trading in a DEMO/Simulated account. The information provided by us is for educational and informational purposes only. We make no representations or warranties concerning the products, practices or procedures of any company or entity mentioned or recommended and have not determined if the statements and opinions of the advertiser are accurate, correct or truthful. If you use, act upon or make decisions in reliance on information contained or any external source linked within it, you do so at your own peril and agree to hold us, our officers, directors, shareholders, affiliates and agents without fault.

Copyright priceactionea.net
Privacy Policy | Terms of Service