A group of Australia's most affluent power players have announced a joint contribution of $17 million in support of the 'yes' campaign for the forthcoming Voice to Parliament referendum.

Over 30 prominent foundations, such as the Paul Ramsay Foundation, the Myer Foundation, and the Oranges & Sardines Foundation, have declared their backing for the initiative.

These foundations have signed on as founding contributors to the “pledge to yes,” which entails making substantial initial donations to 'yes' campaigns, including the Australians for Indigenous Constitutional Recognition (AICR).

Paul Ramsay Foundation CEO Kristy Muir emphasised the impact of their collective voice and funding with the goal of influencing referendums through financial means.

Professor Muir expressed hope that the pledge would encourage more people to come forward with their support, regardless of the amount.

Although the Paul Ramsay Foundation identifies as non-partisan, Muir stated that supporting the Voice to Parliament aligns with their primary objective of "breaking cycles of disadvantage in Australia".

The pledge document states that supporting the initiative is crucial at this moment in Australia's history, claiming the 'yes' vote signifies stronger communities.

While the pledge is being circulated among the philanthropic sector, additional signatories are being called on to provide financial contributions.