Giving Pledge Ousts T. Denny Sanford Following Child Porn Inquiry

South Dakota’s richest man, banking billionaire T. Denny Sanford, has been ousted as a member of the Giving Pledge in the wake of a child pornography investigation.

Signatories of the Giving Pledge—a brainchild of billionaires Bill Gates, Melinda French Gates, and Warren Buffett—commit to giving away at least half of their wealth, either before or after they die. Sanford, worth an estimated $2.1 billion, was one of the first to sign up.

Once heralded for his prolific philanthropy, Sanford’s reputation has taken a massive hit since the inquiry was first reported in 2020.

Sanford has not been charged with a crime, and in May a state official said he had not committed “prosecutable offenses.” Still, the allegations were enough for the Giving Pledge to cut ties.

Billionaire Denny Sanford Is Off the Hook in Child Porn Probe

In April, ProPublica reported that the investigation had been opened after “photos of nude children, estimated to be as young as 8,” were found in an email account allegedly linked to the billionaire. As of that month, it wasn’t clear whether federal prosecutors were still pursuing the matter.

A spokesperson for the Giving Pledge told Forbes—which previously reported the news—that Sanford was cut as a signatory in May, saying he was removed “in accordance with the spirit and intention of the Giving Pledge community.”

A representative for Sanford did not immediately respond to a request for comment. The billionaire has previously denied wrongdoing.

Prior to the controversy, Sanford had made news for a series of massive charitable gifts, and for his assertion that he planned to “die broke.” He had donated extensively to health care organizations and children’s causes; a statue of Sanford in front of a hospital that was named for him was affixed with a plaque reading “For the Love of Children.”

Sanford continued to donate money even after the investigation became public. In March 2021, for instance, he gave $300 million to his namesake health system. Its CEO, Bill Glassen, defended the choice to accept the money and said the group remained “very confident in the partnership with Mr. Sanford.”

New Docs Confirm Billionaire Was Subject of Child Porn Probe

And though law enforcement officials hadn’t yet concluded their inquiry, Glassen said Sanford Health had determined on its own that it was “satisfied” the accusations “were not substantiated.”

There is precedent for dropping Sanford from the Giving Pledge. Last year, former crypto billionaire Sam Bankman-Fried was axed as a signatory after the implosion of his cryptocurrency exchange, FTX. Bankman-Fried’s trial over his role in the company’s demise is scheduled to begin next month.

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