Warren Buffet pledges 99% of his wealth to charity

[Shazam]

Originally Posted by greenlantern

read between the lines, 99% of his wealth through dollars.

That means there will be a large amount of assets passed along in his will... I can only imagine how much of his wealth is tied up in assets.

fta:

what i can do, however, is to take a pile of berkshire hathaway stock certificates -- "claim checks" that when converted to cash can command far-ranging resources -- and commit them to benefit others who, through the luck of the draw, have received the short straws in life. To date about 20% of my shares have been distributed (including shares given by my late wife, susan buffett). I will continue to annually distribute about 4% of the shares i retain. At the latest, the proceeds from all of my berkshire shares will be expended for philanthropic purposes by 10 years after my estate is settled. Nothing will go to endowments; i want the money spent on current needs.

[Devils'Advocate]

Originally Posted by Regorium

He is giving his money to charities, who hopefully will put it towards good causes, like cancer/disease research, building schools and homes in impoverished countries.

Well in that case, we should stop sending money overseas where it is doomed to be wasted by corrupt local governments and never sees the people that really need it. This is tantamount to investing in terrorism since it take money from those that have earned it and gives it to people that hate us for our freedoms.

[troutman]

Originally Posted by Devils'Advocate

take money from those that have earned it

Does anyone really "earn" that amount of $ ? Good luck plays a big part too.

[Shazam]

Originally Posted by troutman

Does anyone really "earn" that amount of $ ? Good luck plays a big part too.

He even says so himself in the article.

[GGG]

Nothing is being spent on endowments to me is little short sited for someone who knows the value of slow careful growth. The endowments would pay out the entire value in about 20 to 30 years and then last forever.

He's behaving like a virgin having sex for the first time