I wonder why they do not start giving a way money while still alive, SO ( I would expect) they can see some of the transformative effects of their giving ?
If their money making methods are ethical then isn't this a better strategy, to leave the decisions to others rather than impose your values on them while alive? Also presumably Buffett and his cohorts are better than others at growing their money, so in the vein of the EA argument, it would be best to leave the money untouched while it is being actively managed by the donor, then hand out the windfall after they are dead.
For this argument to work, you have to stop at the donor themselves - you can't keep extending it ad infinitum to their descendants or inheritors. But in the case of the pre-committed amounts, like Gates and Buffett, that isn't the case.
Yup. It's an all too common tendency for rich people to presume that they're better than everyone else and so don't have to follow any particular legal or ethical code.
I think we all should be. Buffett was one of the good guys, a Democrat, saying the rich need to be taxed more etc. Now he just takes it all back to be spent in probably the most idiotic fashion imaginable by his nepo babies.
Buffet loves making money, is may be the wrong guy to give it away.
Based on his article, his children seem very locally oriented rather than global visionaries.
If I was him, I would not leave this to my kids, who may never agree on much, and then there is zero impact and the pile of cash just sits there doing nothing.
The Scottish billionaire Tom Hunter (who go rich from selling shoes) hired
a team of 30 who spent a decade working of charitable giving (spending Tom's one billion pounds donation, which if I remember correctly was at least at the time the largest one in UK history).
Readit News
For this argument to work, you have to stop at the donor themselves - you can't keep extending it ad infinitum to their descendants or inheritors. But in the case of the pre-committed amounts, like Gates and Buffett, that isn't the case.
https://www.cnbc.com/2024/06/28/buffett-donates-another-5poi...
Based on his article, his children seem very locally oriented rather than global visionaries.
If I was him, I would not leave this to my kids, who may never agree on much, and then there is zero impact and the pile of cash just sits there doing nothing.
The Scottish billionaire Tom Hunter (who go rich from selling shoes) hired a team of 30 who spent a decade working of charitable giving (spending Tom's one billion pounds donation, which if I remember correctly was at least at the time the largest one in UK history).
What pile of cash?
These are shares. Buffett and Munger have taken great pains to ensure that capital allocation will be done well at Berkshire after their death.
There’s no “pile of cash sitting there doing nothing”.