Bill Gates and Warren Buffett Want Billionaires to Donate Half Their Fortunes

On Sunday’s 60 Minutes, Charlie Rose interviewed Bill and Melinda Gates and investor Warren Buffett. The three have dedicated their time to forming the Giving Pledge, an organization that asks billionaires to commit at least half of their wealth to philanthropy.

Buffett has convinced billionaires to give by appealing to their logic. He said, “Incremental wealth, adding to the wealth they have now has no real utility to them. But that wealth has incredible utility to other people. It can educate children. It can vaccinate children. It can do all kinds of things.”

So far, 115 billionaires have signed the pledge. However, Buffett and the group haven’t had a perfect track record in convincing billionaires. Buffett said, “I’ve gotten a lot of yeses when I’ve called people. But I’ve gotten a lot of noes too. And I am tempted, because I’ve been calling people with a billion dollars or more, I’ve been tempted to think that if they can’t sign up for 50 percent, maybe I should write a book on how to get by on $500 million. Because apparently there’s a lot of people that don’t really know how to do it.”

60 Minutes airs Sundays at 4:30 p.m. on CBS.

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