Society

Buffett: Meeting was a complete success

By Wang Zhuoqiong (chinadaily.com.cn)
Updated: 2010-09-29 20:17

Berkshire Hathaway Chief Executive Warren Buffett (C) and Microsoft founder Bill Gates (L) are seen at a closed-door charity banquet in Beijing, Septermber 29, 2010. [Photo/Xinhua]

50 Chinese billionaires and philanthropists have shown up to the private gathering on Wednesday night at the invitation of Bill Gates and Warren Buffett for a discussion on philanthropy in China.

Their attendance has cleared previous doubts on whether Chinese rich might be absent due to fears of being pressured to donate money.

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"Our hopes for this meeting were to learn about giving in China, and share our own views," said Warren Buffett, chairman of Berkshire Hathaway. "By any measure, it was a tremendous success. We had a terrific exchange of views, and learned a great deal about the good work that is already underway."

"We've both been very eager to have this meeting," said Bill Gates, co-chair of the Bill & Melinda Gates Foundation, and chairman of Microsoft. "We're grateful so many people made the time to attend, and for their candor and insights. People are doing some very good thinking about how their good fortune can have a positive impact on China and the world."

"This is a key generation for New China," continued Buffett. "Today's generation of successful entrepreneurs has the chance to lead and inspire giving for generations to come. And from the tone of our conversations, I am confident that they will."

The meeting, co-organized by the Sun Culture Foundation, and moderated by its Chair, Yang Lan, took place at the Chateau Laffitte Hotel. After a 90-minute discussion moderated by Ms.Yang, there was a reception. Participants included business leaders and philanthropists. At Mr. Buffett and Mr. Gates' request, the guest list will not be made public, in deference to the privacy of their guests.

Recently, 40 wealthy families in the United States agreed to participate in the Giving Pledge. The Pledge is a commitment by wealthy families to return the majority of their wealth to society through philanthropy - during their lifetime or at death. Gates and Buffett spoke of that effort briefly at the Beijing meeting, but stressed that China would need to find its own approach to large philanthropy, appropriate to its unique situation.

"Recently, Bill and I wrote, that we expected China to surprise the world," continued Buffett, "in how it embraces philanthropy. Hearing about the giving that happens at every level of society in modern China was inspiriting. If Bill and I could contribute to encouraging the very fortunate to follow their desire to do more, then our trip was a complete success."