How do Warren Buffett and Bill Gates convince the world’s wealthiest people to give away most of their fortunes?
The billionaires have organized the “Giving Pledge,” an initiative launched five years ago to convince others to donate at least half of their wealth to charitable causes around the world.
Buffett, 84, who has pledged to give away 99 percent of his nearly $73 billion fortune during his lifetime or in his will, told ABC News’ Rebecca Jarvishe asks prospective donors to put their money to good use.
“I just say, ‘Hi, Rebecca … what are you thinking about doing with all that wealth that you’ve got?'” Buffett said in an interview for “This Week.” “You’re not going to live forever.
“The money has great utility to other people,” he added.
Over the past five years, Buffett and Gates have convinced 133 others to sign on to the Giving Pledge. “We had no idea we’d get this many people to come together,” Gates, 59, told ABC News.
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