Warren Buffett starts giving back
I think this is awesome, in the literal sense, meaning that I am in awe. Buffet is giving the equivalent of over $30 billion – billion! – and using the Gates Foundation as the right vehicle. At first, it sounds crazy – don’t they already have enough? – but Warren explains it well:
What can be more logical, in whatever you want done, than finding someone better equipped than you are to do it? Who wouldn’t select Tiger Woods to take his place in a high-stakes golf game? That’s how I feel about this decision about my money.
Read the article for more great Warren tidbits, like:
I still believe in the philosophy – FORTUNE quoted me saying this 20 years ago – that a very rich person should leave his kids enough to do anything but not enough to do nothing. [The FORTUNE article was "Should You Leave It All to the Children?" Sept. 29, 1986.]
Imagine the power that will be embodied in the Gates’ decisions. The only word that comes to mind is awesome.
FORTUNE Magazine: A conversation with Warren Buffett – Jun. 25, 2006
July 3rd, 2006 at 7:21 am
I listened to an interview with Warren Buffet about the decision, and it was fantastic. Your post captures the essence of it.
Reading everything he writes about business and investing should be a must for every professional investor.