Buffett, Gates to promote philanthropy in India

Two of the world's richest people, Warren Buffett and software czar Bill Gates, will visit India this year to seek support of wealthy Indians for philanthropic activities.

Legendary investor Buffett along with Bill Gates and his wife Melinda Gates are leading the ‘Giving Pledge' campaign that urges rich people to pledge at least half of their wealth to charity.

“In the months ahead, they [Buffett, Bill and Melinda Gates] will visit India and possibly other countries to have similar conversations [on the campaign],” a spokesperson for ‘Giving Pledge' initiative told PTI.

Details about the proposed visit were not available.

According to the spokesperson, Mr. Buffett and the Gates — Bill and Melinda — have started conversations with billionaires from other countries to learn about their philanthropy efforts and discuss what has worked in those countries.

As part of ‘Giving Pledge' initiative, the billionaire friends visited China in September 2010.

The Gates and Mr. Buffett met many “wealthiest business and philanthropy leaders, exchanged ideas and best practices about how to make the greatest impact with philanthropy,” during their China trip, the spokesperson said.

The two billionaires also came across some successful examples of Chinese philanthropy during that trip.

Last year, Mr. Gates and Mr. Buffett were ranked as the world's second and third richest people by Forbes magazine.

‘Giving Pledge' makes efforts to invite the richest individuals and families in the U.S. to commit to giving the majority of their wealth for philanthropic causes, either during their lifetime or after their death.

“The Pledge is a moral commitment to give, not a legal contract. It does not involve pooling money or supporting a particular set of causes or organisations,” according to its website.