Current Events — HabitableZone

Current Events » in reply to Buffet's $$$$ and Gates Foundations MOTIVES?

Basic facts
Robert — (archived)

It's widely known that Gates and Buffet have been close friends for years. Buffet has called Gates "the smartest man I've ever known".

Buffet was planning for his wife to administer a charitable foundation after his death, but she passed away a couple of years ago, before Buffet. He's already stated that that's his reason for a change in plans.

The Bill and Melinda Gates Foundation has been around for a while, endowed by about $30 billion in Microsoft stock. Buffet's giving away $44 billion to charity, of which about $32 B, I believe, is earmarked for the Gates Foundation, the rest to be distributed to foundations run by Buffet's kids. About $60B is the correct amount.

As for comments, I think it's wonderful. I think Gates has tried to model himself after Hewlett and Packard, and those two both gave their HP stock to foundations which their kids administer. I've known one of those kids through work with one of their projects, and I was impressed by the family's ethic of modern nobless oblige, that with great wealth comes great responsibility. They aren't kidding around.

Most of the wealthy in this country are crass nouveau riche greedheads with no concern for anyone but themselves. But that doesn't mean that one should fail to acknowledge the exceptions like Gates, Buffet, and Hewlett and Packard, who recognize and accept their social obligations.

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