Gates & Buffett challenge super-rich to give half to charity

Photo: Tracy O

Bill Gates as good as Warren Buffett done their fortunes in business (and continue to reap profits from their association as good as investments, respectively), as good as have spent years pity their resources with people in need by countless munificent projects.

Now, theyre upping a ante, inviting a alternative people who run in their super-rich circles to enlarge their own commitments to spreading wealth. Specifically, Gates as good as Buffett want a super-wealthy to give away half of their net worth, either during their lifetimes, or at a time of their deaths.

Earlier this week, CNN reported which Gates as good as Buffett are starting after their companions upon a Forbes 400one of a indices which ranks a richest people in a world. In 2009, a combined net value of a Forbes 400 was we estimate $1.2 trillion. Yes, thats trillion with a t. And 50% of $1.2 trillion is $600 billion.

$600 billion for hospitality could go a long way.

The financial powerhouses who have signed onto a Gates-Buffett project are being referred to as The Great Givers, as good as their commitments will be done open upon a website, The Giving Pledge.

Its this aspect of a projectthe creation open of a pledgethat might be as poignant as a pledges themselves. As a Giving Pledge FAQs explain, one of a goals of this beginning is to foster review about hospitality as good as to envision brand brand new ways of giving which are morally as good as ethically appropriate, as good as in effect in their aim to compromise amicable problems.

You can read Warren Buffetts pledgehis joining to give 99% of his resources away here. Then, let us know what we think? Does this beginning represent an exciting brand brand new section for philanthropy?

Community Connection:

Read more about Gates munificent work in 4 Gates Foundation Projects Youve ! Probably Never Heard of.