(Reuters) - As dozens of U.S. billionaires pledge their fortunes to charity and the country struggles to shake off recession, philanthropy is a growing status symbol of the rich, experts say. Being wealthy may no longer be about how many properties or fast cars a millionaire owns -- it could be about how much money they are giving away -- bringing hope to charities that Warren Buffett and Bill Gates' philanthropic push inspires others."It will be something that's very important to the wealthy -- to be able to say: 'I give my money away as much as I spend it in all these other exciting ways,'" said Stacy Palmer, editor of the Chronicle of Philanthropy.
(Reuters) - As dozens of U.S. billionaires pledge their fortunes to charity and the country struggles to shake off recession, philanthropy is a growing status symbol of the rich, experts say.
Being wealthy may no longer be about how many properties or fast cars a millionaire owns -- it could be about how much money they are giving away -- bringing hope to charities that Warren Buffett and Bill Gates' philanthropic push inspires others.
"It will be something that's very important to the wealthy -- to be able to say: 'I give my money away as much as I spend it in all these other exciting ways,'" said Stacy Palmer, editor of the Chronicle of Philanthropy.
