The two wealthiest Americans met with Obama recently, at the White House, to update the President on the Giving Pledge, which is a pact to encourage the nation's wealthiest people to donate a portion of their money to philanthropy.
Both Gates and Buffet are part of the Giving Pledge.
The main focus of their conversation was how private philanthropy can help address the countries challenges.
Jay Carney, the President's Press Secretary stated that the "president things that what they are doing is extraordinary, noble and good."
Buffet and Obama also discussed the ongoing deficit-reduction negotiations. Philanthropy is one way to address the issue of poverty, but as stated by much of Obama's press at the USGLC Conference, investing in developing markets and opening trade may be a more beneficial route.
SOURCE: ABC NEWS