Philanthropy new status symbol for the wealthy in US

As dozens of US 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