Tech founder pledges to give away half his wealth to share the American dream, address inequality
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 have to share it.”The sale of Stack Overflow for $1.6 billion in 2021 made Atwood, his co-found...