Monday, June 26, 2006

Warren Buffett: 'Wildly Generous Bigot'?

The news of multibillionaire Warren Buffett's graduated donation of more than $1 billion a year to the Bill and Melinda Gates Foundation (as well as four others) really struck a chord with me, particularly in light of Xtra's expressed dislike of generosity.

What stuck out the most was the description during the news conference of Buffett's and the Gates's philosophy on wealth. Essentially, the three agreed that accumulated wealth ought to be shared with society. Rather than going to his grave in a coffin filled with $1 million bills (?), Buffett has ensured a lasting legacy through the work of his chosen foundations and in the lives of the millions of people he is helping.

The beauty of this gift, however, is not the sheer size of it, nor the causes it's going to. It is simply the fact that it is (by all accounts) genuine. This gift is not made as a corporate tax write-off, or for personal or political gain. It is merely a donation to concepts that work, with the primary concept that it takes money to make things like global health and education initiatives work. Warren Buffett, the iconoclastic investor, is showing the world where true investment lies, which is in humanity.

And now, before Xtra and 'Dingo can accuse me of weepiness, I depart.

5 comments:

Mandingo said...

Actually enjoyed the post until that last sentence. "showing the world where true investment lies, which is in humanity." I mean, really. Why don't you marry Amartya Sen instead?

xtrachromosomeconservative said...

Yeah, you are totally like a little bitch.

PiedPiper said...

Your comments are much appreciated...as always.

xtrachromosomeconservative said...

I always try to be constructive.

xtrachromosomeconservative said...

I always try to be constructive.