Gates, Buffett to meet China wealthy

Microsoft mogul Gates and investment guru Buffett launched a project in June called “The Giving Pledge” aimed at convincing billionaires across the United States to give up most of their money — 50 percent or more — to a good cause.

Just six weeks later, 40 wealthy individuals and their families — including CNN founder Ted Turner and New York City Mayor Michael Bloomberg — pledged to hand over more than half of their fortunes.

A spokesperson for the project, who refused to be named, said Tuesday that while Gates and Buffett were planning to visit China in September, the Giving Pledge effort was still focused on the United States for now.

“However, Warren, Bill and Melinda (Gates' wife) have been talking about giving and philanthropy with groups of people around the world over the past year and are planning to do more of it this year,” the spokesperson said.

“The basic idea — that those with great wealth can and should devote that wealth to efforts to leave the world a better place — has resonance around the globe.”

In a press briefing earlier this month, Buffett said the pair would meet with a “large group of Chinese wealthy people” at the end of September, adding they also planned to visit India in March 2011.

“That's just to explain it to people in those countries and maybe give a little bit of our experience. And if they wish to take what we think is a good idea and run with it, we'll be cheering,” he said.

“But we will not be leading those efforts.”

China has the second-highest number of dollar billionaires in the world after the United States, according to Forbes magazine, and one of them has already preceded Buffett and Gates' project by donating his fortune to charity.

Yu Pengnian, 88, a real estate magnate and hotelier, announced the move in April and said he hoped it would encourage other Chinese billionaires to do more.

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