The Finance Foundation
Reinventing capitalism for all
President of the Finance Foundation

Warren Buffet: to give is to be
October 05, 2015 , Michel Gabrysiak - Financial Markets
To give, or not to give. That is the question. Shakespeare said it differently, To be, or not to be.Does’nt it amount to the same?
What some of the wealthiest people in the world do with their money today could be analysed from both points of view. To give and to be, result in the same process. The public statement made by Warren Buffet to the Financial Times is very clear and revealing. He and Bill Gates donated 90% of their huge fortune to the foundation created and run by Bill and Melinda Gates. It is a very serious, well organised, devoted foundation to human development. Those two gifts represent, more or less, 100 billion dollars.
Warren Buffet said some years ago that he did not see why he should give all that money to his children. They got a “modest” 1 billion dollars each.
He continues to drive his old car and live like he lived all his life, in modesty. Today he appeals to the Silicon Valley entrepreneurs.
Billions have been donated in the Valley. But they are safely harboured in profit making funds and making money for their owners. Not the recipient entities.
That money should be given now, says Warren Buffet.
Mr Buffet and his charitable activities open a Pandora box. If many members of the so called 1% decide to give away a significant part of their money to foundations, the state will lose on taxes, such as inheritance, or profit. but clearly the generosity of such as Buffet and Gates today, the Rockefellers yesterday, should inspire many, many, many more to look down at the part of humanity which has nothing, or nearly nothing. To develop them. Help them make their own life a better life.
Capitalism is about that as well
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