Buffett charity pledge gathers momentum

FORTY of the world’s richest business leaders have now flocked to sign up to a charity pledge set up by Warren Buffett and Bill Gates.

The Giving Pledge, which asks billionaires to give away at least half their fortunes to charity, has, at last count, secured around £150bn from the likes of businessman David Rockefeller, CNN founder Ted Turner, and Hollywood director George Lucas.

Buffett and Gates, who have been hosting a series of dinners aimed at persuading their peers to come on board, are both well-known for their philanthropic efforts. Buffett has promised to donate more than 99 per cent of his estimated $47bn (£29.4bn) wealth to charity, while Bill Gates’ foundation has done ground-breaking work on eliminating malaria and polio in the developing world.

The pledge wants businessmen to give away their fortunes in their lifetime, rather than creating wealthy dynasties.