Pierre (A’88) and Pam (A’89) Omidyar are a part of the Giving Pledge, a growing list of billionaires who have pledged to give most of their wealth to philanthropic causes.
In a letter explaining their decision, Pierre — founder of eBay — wrote:
Our view is fairly simple. We have more money than our family will ever need. There’s no need to hold onto it when it can be put to use today, to help solve some of the world’s most intractable problems.
The Omidyars have a long history of philanthropy with Tufts. In 2005, they gave Tufts $100 million to create the Omidyar-Tufts Microfinance Fund, which is invested entirely in international microfinance initiatives. In 1999, the University College of Citizenship and Public Service at Tufts (now Tisch College) was founded through the generosity of the Omidyars.