Caixin
Sep 30, 2010 07:34 PM

For China's Wealthy, Charitable Giving Hurts

Investment magnate Warren Buffett and the world's richest man Bill Gates promised to donate most of their wealth to charitable causes. They also want the rest of the planet's gilded class to follow, including China's nouveau riche.

The two men pitched their case at invitation-only dinners across the United States over the past year, urging Americans with deep pockets to give away assets. Their so-called Giving Pledge so far has won dozens of American individuals and families.

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