Some of the world's top billionaires have gathered in Arizona to discuss money and how to give them away.

Billionaire Warren Buffet led a group of 61 other American billionaires at a private dinner at the Miraval Resort in Tucson, Arizona to exchange stories, meet, laugh and enjoy food. The 61 were part of 69 billionaires who pledged in June last year to give at least half of their wealth to charity.

The initiative was launched by Buffet and his friend, Microsoft co-founder, Bill Gates.

Buffet later told the Associated Press after the dinner, "They all more than fulfilled my expectations." The media was not allowed to cover the gathering.

Melinda Gates, co-chair of the Bill & Melinda Gates Foundation, expressed gratitude over the generosity of those present. Most of those who attended the dinner were strangers to her and husband Bill. But they left the dinner gaining new friends.

Topics of discussions varied but also touched on the mistakes made by people when giving.

Retired special education teacher Tashia Morgridge commented, "One of the things about being a philanthropist, in many ways it's rather a lonely job.

Tashia and her husband, Cisco Systems chairman John Morgridge, have founded the Morgridge Family Foundation based in Denver, Colorado. Their mission is to improve the quality of U.S. education.

Tulsa, Oklahoma-based George Kaiser, one of the billionaires who made the pledge and who also gives to charities involving aiding early childhood education and social services programs, added that giving pledge helps philanthropists to differentiate throwing away money with investing in worthy causes that helps solve some of the world's problems.

Kaiser, who chairs the BOK Financial Group said, "Being able to share with other people who are agonizing about the same decisions is extraordinarily useful," said Kaiser. The philantrophist has been involved in oil and gas industry executive for four decades. He led a session on applying analytical business practices to philanthropy.

After dinner, the group pledged to find more ways so that their giving will have a bigger impact by providing a more effective philanthropy and at the same time to inspire average people to give too.

In fact one philanthropist from New Jersey named Chuch Feeney has committed to give all his money to charity.

"He wants his last check to bounce," Buffett said.

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