Trevor Neilson, president, of Global Philanthropy, notes that the Giving Pledge is a historic development in American philanthropy history. “Never before has a group of billionaires joined together in this way, and I think will create a new set of cultural norms around wealth and how it is used. The world of billionaires is a small one, and these people stepping forward will create significant pressure on those who haven’t yet decided how to use the wealth they have built,” Neilson said.

This article originally appeared in The Hartford Business Journal