"I can see where signing up for the Giving Pledge could cause someone to be more reflective about the kind of giving that's been most meaningful to them in the past and thoughtful about having greater impact in the future," says Putnam-Walkerly.

Software magnate Gates and investment guru Buffett last year unveiled the Giving Pledge campaign to persuade fellow billionaires to give away at least half of their wealth-and to publicize philanthropy generally. To date, 58 individuals and couples have signed on, according to the campaign's website.

But if the 11 billionaires on the latest "Philanthropy 50" who are also Giving Pledge signatories-most of them seasoned philanthropists-have grown more deliberate about charity as a result of the Giving Pledge, they aren't saying so. Of the Giving Pledge signers Dow Jones contacted, none agreed to discuss its impact on their philanthropy.

A representative of one, who asked not to be identified, said her boss's own approach to giving was unaffected by the pledge, but that his participation in the campaign is prompting "conversations about philanthropy that probably wouldn't have taken place otherwise. People--I'm talking about his peers--feel freer to discuss the topic because of the pledge."

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