Editor's blog: The difficulties of mega-philanthropy

I'm all for wealthy individuals giving their money away. But the issue isn't straightforward.

by
Last Updated: 31 Aug 2010

John D. Rockefeller said: 'It is a poor man who dies rich'. Well, by this measure Bill Gates and Warren Buffett are going to die poor. Or rich. Or whatever. The news that Gates has organised a get-together of a few dozen of his billionaire friends and persuaded them to hand over half their wealth to worthy charitable causes has created a minor sensation.
 
Buffett himself has promised to give away 99% of his wealth. 'We called 70 to 80 people in the Forbes list,' said Buffett. 'It was a very soft sell but 40 signed up'. Those who have failed to sign up will find the old boy from Omaha on their tails as he continues to pursue them to do the right thing with their lucre. 'Every saint has a past, every sinner has a future, so we’ll keep working,' commented Warren over his cheeseburger and cherry Coke. [CONTINUES]


In today's bulletin:
RBS back in the black - by the skin of its teeth
Cadbury boosts Kraft - but is the reverse true?
GM raises the stakes with 'lifetime warranty' on new cars
Editor's blog: The difficulties of mega-philanthropy
One-in, One-out: Government promises no more red tape

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