Katherine Lorenz, leader of The Giving Pledge's Next Gen group, stated that younger generations are advocating for accelerated philanthropic giving from their parents. Lorenz leads a network for heirs and family members within The Giving Pledge that focuses on shaping philanthropic strategies.

Lorenz observed some younger individuals urging their parents to increase the speed and volume of their donations. She said, "I see more younger generation folks pushing on their parents to give more." She added, "[They're saying], 'you made enough money, mom and dad, it's time to give it away and to give it away faster.'" Lorenz noted, "Many of them are ready to deploy the capital faster," and added, "Sometimes the barrier is the older generation."

Melissa Stevens, Executive Vice President of Milken Institute Strategic Philanthropy, co-authored a report on the evolving nature of philanthropy for the Milken Institute. Stevens said, "Wealth inequalities have never been greater than they are right now, and we have this sharper eye on the wealthy." She added, "It has raised the stakes." Stevens also indicated that these individuals do not primarily identify as philanthropists. "They're not thinking necessarily of themselves as philanthropists," Stevens said. She further stated, "They're thinking of themselves as their angel investors, impact investors, change makers, [and] advocates."

Lorenz's grandfather, George Mitchell, was an oil and real estate executive. Mitchell signed The Giving Pledge in 2010, the same year it launched. The Giving Pledge was initiated in 2010 by Warren Buffett, Bill Gates, and Melinda French Gates. Lorenz graduated from Davidson College in North Carolina in 2001 and then started a nonprofit focused on rural Indigenous communities in Oaxaca, Mexico. She resided in Oaxaca for approximately six years. Reflecting on her time there, Lorenz stated, "You think you have the answer, and you come into communities and realize actually they have more answers than you have." She also noted, "You learn more from them than they learn from you." Lorenz began working at the Cynthia and George Mitchell Foundation at the age of 25 and became its head in 2011.

Why It Matters

This shift in approach among the younger generation of wealthy heirs, as noted by Katherine Lorenz, comes as wealth inequality is a prominent topic. Stevens' report highlights the increased scrutiny on the wealthy during a period of wealth accumulation. In the year prior to the article's publication, billionaire wealth increased by more than 16%, reaching a record high of $18.3 trillion. This perspective is further informed by generational differences in views on wealth; a 2026 Pew survey found that nearly one-third of adults aged 18 to 29 consider extreme wealth morally wrong, compared to 10% of adults 65 and older. The anticipated transfer of wealth also informs these evolving philanthropic strategies, with women projected to inherit approximately $47 trillion by 2048, representing about 56% of all inherited global wealth.