Forty billionaires of the USA have signed The Giving Pledge (http://givingpledge.org/#enter) thereby resolving to give atleast half their wealth to charity. The initiative was taken by Bill and Melinda Gates and Warren Buffet. The familiar names in the list apart from the above were Ted Turner, George Lucas, Michael Bloomberg and David Rockefeller.
The work done by the Bill and Melinda Gates foundation in developing countries is phenomenal tackling health and education issues. In India, among other things, the foundation concentrates on preventing HIV infections and reducing infant mortality.
Fantastic amounts of money are being donated by these rich people and I hope others would follow suit including those in India.
Warren Buffet once said, "I want to give my kids just enough so that they would feel that they could do anything, but not so much that they would feel like doing nothing." Wise words, indeed.