Billionaires giving it away

Warren Buffett, Bill Gates, Ted Turner, George Lucas, Larry Ellison and Michael Bloomberg

Did you catch this story?

As a result of the economic downturn many non-profits are not doing very well. Many haven’t been able to keep up with the demand for their goods, services, and other aid. Seeing the problems in the country, 40 American billionaires, yes with a “b”, have stepped up and decided to give away at least half of their fortunes to charities.

How insane is that? It is insane in a good way, ofcourse, but still it is pretty crazy to think of them giving away half of their money and them still being billionaires. That’s a lot of money. But they don’t seem to mind. Michael Bloomberg says, “And if you really care about your family, I’ve always thought that the best thing to do is to make the world better for your kids and your grandkids rather than just give them some money”.

Warren Buffett says the goal isn’t too simply give away money and have people ooh and ahh over their philanthropy, but rather, it is intended to inspire people to do the same: help those less fortunate than you. Their generosity will hopefully become infectious. If these 40 people will do something perhaps even more will do the same and the bug will keep on spreading. Buffett says, “So it will be more philanthropy, and smarter philanthropy in the future is the goal.”

There are those whom wonder where exactly the money will go to, but in the end it is much better that they give their money to any public institution than simply pass it on to their children.

You can catch the full story here on NPR.


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