Buffett, 12 Families Pledge Wealth to Charity

Twelve families promised to donate most of their wealth to philanthropy, joining the Giving Pledge initiative started by Warren Buffett and Bill and Melinda Gates.

The families include hedge-fund manager Bill Ackman and his wife Karen, Tesla Motors Inc.’s billionaire owner Elon Musk and film producer Steve Bing, according to an emailed statement from the initiative.

Arthur M. Blank, Edgar M. Bronfman, Glenn and Eva Dubin, Red and Charline McCombs, Michael Moritz and Harriet Heyman, John and Ginger Sall, Henry and Susan Samueli, John A. and Susan Sobrato, John Michael Sobrato, and Ted and Vada Stanley also signed the pledge.

“They come from different backgrounds, but share a common desire to see positive change in our world,” Buffett said in the statement. “We’ve said from the beginning that this is a long-term effort, but I’m particularly pleased to see continued momentum in encouraging greater and more thoughtful philanthropy.”