Warren Buffett Watch
- Warren Buffett: Stocks Will Outperform Gold and Bonds .. and They're Safer 'By Far'
- 'Buffett Rule' Introduced in Senate But Passage Unlikely Amid GOP Opposition
- Warren Buffett Matching Illinois Teen's $300 Deficit Donation
- Warren Buffett Defends His Secretary From 'Ridiculous' Attacks
- Does Warren Buffett's Secretary Really Make Over $200,000?
- Warren Buffett's Secretary 'Excited' About State of the Union Role
- Warren Buffett Offers Millions in Deficit Donations, If ...
- Warren Buffett Sings and Plays Ukulele for Chinese New Year
- Warren Buffett Partied With Jay-Z Last Night
- 'Impressed' and 'Delighted' Warren Buffett Matches GOP Rep's Deficit Donations
RSS FEED
MOST SHARED
- We're Not Greece: Italian Prime Minister Monti
- Obama Likely to Call for Cutting Top Corporate Tax Rate
- To Play Senate Cybersecurity Bill, Cramer Likes Fortinet Stock
- Greek Cabinet Approves EU, IMF Bailout Bill
- Special Feature: Wall Street History - How Wall Street Got Its Name
- How to Trade the Turmoil in Greece
- Private Homebuilders: Dead Men Walking
- Why Cramer Likes Select Comfort Over Tempur-pedic Stock
- Cramer: 10 Earnings to Watch Next Week
- Lightning Round: Trina Solar, Zoltek, Affymax and More
- In Search of America's ‘Hottest Forecasters’
- Dow vs. S&P 500: Which is a Better Investment?
- Mick Fleetwood on the MP3 ‘Dumbing Down’ of Music
- Avis on the Road to Strong Growth: Analyst
- Private Homebuilders: Dead Men Walking
- LinkedIn’s Growth Is Already Priced In: Analyst
- The Real Reason Behind Bank of America’s Rally
- 5 Hedge Funds’ Top Stocks Soar After 2011 Rout
- This Valentine’s Day Love Is Served on a Silver Platter
- Greek Cabinet Approves EU, IMF Bailout Bill
- We're Not Greece: Italian Prime Minister Monti
- Private Homebuilders in the US: Dead Men Walking
- Dividend Payout Could Hit Record Amount This Year
- With Investors So Bullish, Stock Pullback Must Be Ahead
- Obama Likely to Call for Cutting Top Corporate Tax Rate
- New York Fashion Week Fall 2012
- NetNet: Why Saving Greece Could Destroy the World
- My Funny Valentine: When Love and the Fed Collide
Warren Buffett & Bill Gates Seek to Soothe Suspicions Over China Philanthropy Visit
Text Size 
Executive Producer
 |
David Goldman / AP for CNBC Bill Gates and Warren Buffett answered questions from Columbia University students in New York City for CNBC's "Keeping America Great" event in September, 2009. |
China's Economic Observer newspaper says Gates and Buffett have invited a "select group" of 50 to 60 members of the nation's "business elite" to a "private party" in Beijing.
Some of those invited, however, have declined to attend, apparently over concerns they'd be asked, or even pressured, to make a donation pledge at the event.
In June, Buffett and Gates used Fortune Magazine to publicly challenge America's richest billionaires to pledge they will donate 50 percent of their wealth to charity, and just over three-dozen have already accepted that challenge.
Bloomberg quotes a Gates Foundation spokesman in Beijing as saying Buffett and Gates may soon release a letter to ease some of the concerns the Chinese guests will also be put on the spot to make a big pledge. "Our biggest intention for this month’s China trip is to learn how to do philanthropy in China. We would like to learn how to propel the charity business in such a big developing nation."
 |
Source: Fortune Magazine |
The Financial Times quotes Rupert Hoogewerf, who compiles a list of China's wealthiest people, as saying many in that country question the motives behind charity donations. "The most important stakeholder in all charities in China is always the government, and there is usually a suspicion that a lot of donations are not pure philanthropy but rather influence-buying by wealthy business people."
But Hoogewerf thinks Buffett and Gates may be able to overcome those suspicions because they are "idolized" by Chinese entrepreneurs. "Their coming out here is likely to kickstart philanthropy in China."
Buffett and Gates will also use the trip to visit Chinese companies in which Berkshire Hathaway has invested.
Current Berkshire stock prices:
 |
Class B: [BRK.B
Loading...
()
]
Class A: [BRK.A
Loading...
()
]
For more Buffett Watch updates follow alexcrippen on Twitter.
Email comments to
Data is a real-time snapshot *Data is delayed at least 15 minutes
