Some 40 billionaires have stepped forward to pledge at least half of their fortunes to charity, following the call of Warren Buffett and Bill Gates who have already done the same. But this campaign doesn't stop at our borders, as Buffett and Gates are hoping to encourage the world's billionaires to join them.
Not so fast, says Germany. According to The Chronicle of Philanthropy, wealthy Germans "are responding skeptically to this effort," with one German asset manager contacted by Gates saying that many of the country's super-rich have already transferred more than half of their wealth to charity and consider the "Giving Pledge" campaign "too ostentatious." Another billionaire "blasted the effort as 'a bad transfer of power from the state to billionaires,'" the German magazine Der Spiegel reports in its international edition.
For more: Germany's rich says no thanks to Buffett-Gates 'giving pledge' -
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