Obama talks philanthropy with Gates, Buffett (AFP)

WASHINGTON (AFP) – US President Barack Obama hosted America’s two richest men on Tuesday — Bill Gates and Warren Buffett — to swap notes on giving away wealth, economic growth and investing in education.

Obama invited the Microsoft co-founder and his wife Melinda and the billionaire financier to discuss their “Giving Pledge,” an initiative encouraging the wealthy to commit to disposing of most of their wealth through philanthropy.

A White House official said that the Oval Office visit also touched on ideas for “growing the economy and making America more competitive, including investment in education to better prepare the next generation.”

Obama has met Buffett on a semi-regular basis, and has frequently used his name in campaign events to argue that America’s richest people do not need tax cuts favored by the Republicans.

According to the latest Forbes 400 list of the wealthiest Americans, Gates is America’s richest man, boasting wealth of 54 billion dollars, followed by Berkshire Hathaway chief Buffett who is listed at 45 billion dollars.

Gates, who rose to fame by founding the Microsoft software empire, has since turned most of his attention to philanthropy, fighting disease, poverty and promoting innovation and education in the developed and developing world.

In 2006, Buffett announced that he would leave a part of his wealth to the Bill and Melinda Gates Foundation.

The breaking news, Obama talks philanthropy with Gates, Buffett
extract from US Economy

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