Bill Gates urges rich to give back more to the society
Self-made billionaire, Microsoft founder and philanthropist Bill Gates said, “ It is the dynastic rich, and not first-generation entrepreneurs, who have reservations about parting with their wealth for charitable endeavours”.
"Our experience world-wide is that first generation wealth is actually more generous than dynastic wealth. The biggest givers are those who are receiving first generation wealth," said Bill Gates at a packed joint press conference with legendary investor Warren Buffett.
Gates, along with his wife Melinda and Buffett arrived in the Indian capital on Thursday to a packed schedule that mainly concentrates on their philanthropic efforts.
Having themselves endowed around USD 60 billion between them, Gates and Buffett said there are some considerable enthusiasm among the rich and the famous Indians they met here, comprising of first generation entrepreneurs to a large extent, to share their wealth with the less fortunate.
"We heard it from a lot of people who had made their money that they are very interested in giving it back to society," Melinda Gates added after an exclusive dinner which aimed to woo people towards philanthropy.