Gates and Buffet Urge Their Fellow Billionaires to Donate Half of Their Wealth

On Thursday it was reported that billionaires Warren Buffett and Bill Gates urged their counterparts to donate half of their assets to charity.

In the past, both the billionaires have organized many dinners to talk about the impact of recession on charity. Many of the country's wealthiest people participated in the talks. These included New York Mayor Michael Bloomberg, Investors Ronald O. Perelman and David Rockefeller.

The outcome of the discussions is an invitation which is called the `Giving Pledge'. This invitation asks the country's wealthiest people to come forward and give a commitment in public about donating half of their riches in charity.

This move will require Gates and Buffet to lead the list of such billionaires by donating their wealth. Many people invited on the dinner have expressed their willingness to do so.

Mr. Gates' wife and Co-Chair of the Bill & Melinda Gates Foundation, Melinda Gates revealed that the aim is to make the society hopeful that the wealthy people are coming forward to donate their riches. She said that they are focusing on creating a group of such people who can give guidance regarding charity.

She further added that one of the most significant aspects of charity is that it motivates the people to do things for which they have an enthusiasm.