27 June 2006

Record-breaking Philantropy

Warren Buffet has made the largest private charitable donation ever, an estimated $37 billion to the Bill and Melinda Gates Foundation. I heard a comment quotes from him on NPR this morning, one of which was very good about children should not be entitled to riches just because of whose womb they came from. I couldn't find it on this great article & interview's page, but I did find this other good one, "a very rich person should leave his kids enough to do anything but not enough to do nothing." He said that back in 1986. His donation will double the assets of the foundation and he will take a seat on their board.

5 comments:

  1. last night buffet and the Gates were on with jim leher (sp?) and eron and i had a discussion over the dynastic wealth comment. very interesting. i thought it was genious. he gives his kids enough money to have the advantages others don't but he also makes them be something on their own...to reach the full potential of their own being, rather than be identified by warren's money. i can't imagine his kids being lazy anyway, or kooky like the hiltons. what a disgrace that would be.

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  2. What a good comment, schulerin, --yes, the Hiltons-what a joke their actions are- Here is a good line from the Detroit news to put it all in perspective. A person earning 100,000 gross would have to work 15,000 years to equal the first installment Buffet is giving away-1.5 billion. He is giving away what-30 billion. He is an unbelievable man--he has such a good sense of humor and not a prima dona, Warren, I could make you a great partner!!!

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  3. i still struggle with the anti-dynastic wealth comment but his approach is well reasoned.

    I think his decision also reflects the change in perception. 20 - 30 years ago the greatest threats for humanitarians to work against included nuclear war --- now disease and poverty seem to be much more center stage.

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  4. i don't know if it is "perception", but more so a change is actuality. (i made up that word, think.) AIDS was not the epidemic it is now 20-30 years ago.

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  5. Actually the one disease most people don't think about is tuberculosis--a new strain has become immune to a lot of the antibotics--did you all read the book about Dr. Farmer by Tracy Kidder, what was that, something about the mountains. It was very good and explained the disease very well.

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