On June 16, 2006 Bill Gates announced that he would continue in a part-time role within Microsoft to start focusing on a full-time career in philanthropy by July 2008.
A few days later, Buffett, one of the wealthiest people in the world, announced that he would begin matching the Gates' contribution to the Gates Foundation.
It's an astonishing amount of up to $1.
5 billion per year in stock.
Bill Clinton, previous President of the US, although not wealthy in the sense of Gates and Buffett, has started the Clinton Foundation.
What Clinton can bring to the Big Boys' Club are his connections.
Watch Bill Clinton speak at TED on his vision for world change.
His Foundation has a special focus on health, leadership development, economic empowerment and reconciliation across racial, ethnic and religious borders.
Richard Branson, founder and big chief at Virgin, has been involved in humanitarian initiatives since the late 1990s.
With activist Peter Gabriel he discussed with South Africa's Nelson Mandela the concept of a group of dedicated leaders working towards solving difficult global conflicts.
Mandela announced the formation of this group, The Elders, during his recent 89th birthday celebration.
Desmond Tutu will serve as the chair.
There are many more.
Al Gore has created a huge awareness of environmental issues.
George Soros, another super wealthy individual, has decided to attach himself to this campaign.
He is of the opinion that the US, Europe, India and China must be the quartet that handles climate change.
The UN moves too slowly.
Companies are now jumping on board the movement to change the world.
It is becoming the business of world improvement.
Amongst the big boys are Siemens, BP, Ikea, Walt Disney, Wal-Mart and many more.
The cynic might say that shareholders demand social investment now.
Let's not knock it.
whatever the reason, all efforts at promoting social responsibility must be encouraged.
What will these individuals and organisations achieve that the world has failed at so far? The billions of Pounds, Dollars or Euros in aid that have been pumped into areas such as Africa, parts of South America, Asian countries such as Bangladesh, have not brought the relief that was aimed at.
Child mortality through disease and hunger is higher than before.
Clean water to every person is still a pipe dream.
The end of abject world poverty as was determined to happen by 2015 is nowhere in sight.
What is even more significant is the fact that the Gates Foundation is managing the funds itself.
Gates and Buffett could have handed over their Billions to existing charities such as Oxfam, Habitat or WHO.
The thinking is that one should tackle the issues of health, fight against poverty and peaceful existence as if it were a business.
With other words aid handed out will require measurable performance and results.
This does not mean that charities such as Oxfam and the Red Cross are not required when natural and humanitarian disasters strike.
The business of world improvement will tackle projects that will require long term effort, such as fighting Malaria, TB or even building better river banks in Bangladesh.
The recent flooding of parts of Nepal, Bangladesh and India are a prime examples of where huge aid is required, and not just for food aid.
Every year these areas are flooded, and yes some years the flooding is heavier than others,bringing immense hardships to people.
Predictable natural disasters can be combated.
Technology and know-how is available to tame the rivers, no matter the rain fall.
It requires huge investments which poor countries such as Bangladesh do not have, but the world does.
The world has the technology and knowledge to combat disease, hunger and drought, find political solutions for peace and offer training to people to eventually become self-sufficient.
Whatever initiatives are started to address the wrongs of the world, they need to be applauded and supported.
When one sees pictures of starving families, people dying of manageable diseases such as AIDS or Malaria and many more other evils,one needs to state that failure this time is not an option.
Der Spiegel features an outstanding article on The Billionaire Samaritans.