THE ASSOCIATED PRESS

NEW YORK -- Microsoft founder Bill Gates and New York Mayor Michael Bloomberg are pooling their piles of money to pour $375 million into a global effort to cut smoking.

The billionaire philanthropists, who have a combined worth of more than $70 billion, said in a Manhattan news conference today that the money will help efforts in developing countries where tobacco use is highest. There are more than 1 billion smokers worldwide.

The $250 million from Bloomberg and $125 million from Gates will support projects that raise tobacco taxes, help smokers quit, ban tobacco advertising and protect nonsmokers from exposure to smoke. It will also aid efforts to track tobacco use and better understand tobacco control strategies.