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News Warren Buffet Gives Away His Billions

  1. Jun 25, 2006 #1

    Astronuc

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    Buffett to begin giving fortune away to charities

    Five foundations, including Gates’, will get bulk of his $42 billion (AP)
    http://www.msnbc.msn.com/id/13541144/

    I really admire Warren. :biggrin:
     
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  3. Jun 26, 2006 #2

    Mech_Engineer

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    That's incredible when you can give away 40 billion dollars, and still be a billionaire.

    If only he would give me a million or two :biggrin:
     
  4. Jun 26, 2006 #3
    I see people who parade that they love a particular singer, a movie star, a besketball player, and i can t see why that is the case. These people are being pay millions of dollars to do their job. They are performers, and that is it. i think people like gate, or buffett are something to be admired, not so much because of how much they gave to charity, but because of their character from their acts of kindness. Their spirit of giving to help the less fortunate is in my opinion that mark of true nobility, and worthy to be emulated.
     
  5. Jun 26, 2006 #4

    loseyourname

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    What an interesting guy. I remember reading a while back about the debate he had with his wife about giving. Apparently, she thought he should give away as money as could continuously, and he thought it best to wait until death so he could make as money as he possibly could and then give it away. I think inflation finally convinced him that giving it away now would maximize the value of the money. Someone I know that idolizes him was telling me he lives a basically middle-class existence, too, as if he spent his entire life accumulating the world's second-largest fortune for the sole purpose of being able to give it away.

    This will make a hell of a movie someday.
     
  6. Jun 27, 2006 #5

    Astronuc

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    I think somewhere during his career, Buffet noticed which consumer products his wife was buying, and he started investing in those companies, and then started buying those companies.

    His modest lifestyle and his philanthropy are definitely to be admired. :approve:
     
  7. Jun 27, 2006 #6

    arildno

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    Why does he deserve to be idolized??
    What is it about Americans that make them so prone to regard rich people as superhumans?
    So, he's shown himself as a decent fellow, why regard him as some godlike figure?
     
  8. Jun 27, 2006 #7

    Astronuc

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    I would not say idolized, but admired, because he lived frugally rather than excessively or ostentatiously.

    Neither Buffet, nor Gates, should be considered superhuman or godlike, of course. On the other hand, there are many who aspire to have such great wealth.
     
  9. Jun 27, 2006 #8

    DaveC426913

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    Godlike? Idolized? Superhuman? You're kind of hyperbolizing and putting words in others' mouths at the same time, ain'tcha?

    But if took more than half the money you currently have and gave it all to charity, you'd be admired too.

    BTW, from an purely objective point-of-view (and something that, alone, makes it newsworthy), it is the largest charitable donation in history.
     
    Last edited: Jun 27, 2006
  10. Jun 27, 2006 #9
    Think of the tax he is saving :) hehe

    Nice chap, good show, well done... Wonder if the money will actually do any good.
     
  11. Jun 27, 2006 #10

    arildno

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    Eeh?:confused:
     
  12. Jun 27, 2006 #11

    arildno

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    Since I don't know anything about him as a person when it comes to such morally relevant issues as how he treats his family or employees, I really can't see why it is necessary to acknowledge anything else than that he is probably a decent fellow, which I've already done.
     
    Last edited: Jun 27, 2006
  13. Jun 27, 2006 #12
    That's Peter Lynch.

    Edit: Peter Lynch was the one who enccouraged people to buy stocks of companies that made products they liked. Buffet was the one who bought companies with the intention of running them.
     
    Last edited: Jun 27, 2006
  14. Jun 27, 2006 #13

    Gokul43201

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    (just heard this on the radio) An approximate quote from Buffet : I want to leave my kids with enough money to do anything in life, but not enough for them to do nothing.
     
  15. Jun 27, 2006 #14

    russ_watters

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    By the same token, I think you are attributing a general approval of him when that is not implied by what people are saying. People (including me) admire what he is doing with his money. That's it. No one knows how he treats his family, so no one commented directly on that and ther comments shouldn't be seen as approving of it.
     
  16. Jun 27, 2006 #15

    loseyourname

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    Very few heroes are held up as examples of how to behave because of the way they treat their families. Buffett is trying to make an example of himself to become a model of how the super rich should behave with respect to the societies they got rich off of. That's fine; for that, he is a great example.
     
  17. Jun 28, 2006 #16

    arildno

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    Well, in one post, a poster mentioned a friend that idolized him, and as for the word "admire", I have always thought that were used more to express strong approval of individual's person, whereas words like "respect", "being impressed by" are more usual to characterize how one feels about a person's talent,achievements, and so on.
    I'm obviously wrong then.
     
  18. Jun 28, 2006 #17
    Ha, if only one could say the same about me. I don't think anyone would be idolized for giving away 50 dollars.
     
  19. Jun 28, 2006 #18

    russ_watters

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    You're only worth $100? Ouch.
     
  20. Jun 28, 2006 #19
    meh, my rent's paid. I'm happy :)
     
  21. Jun 28, 2006 #20

    loseyourname

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    I said it. The girl that idolizes him is an aspiring entrepeneur. He's not a bad guy to idolize and model oneself after if you also wish to be a super rich business leader, which is what she wants to be. She never said she wanted to model her parenting style after him.
     
  22. Jun 29, 2006 #21

    I sort of aggree (empaphys) with arildno.

    Really you dont have to take what he says personally, as an insult towards yourself's personally. You just have a different culture, where wealth is deemed asperational, and the more you parade your wealth the better. Bling Bling and all that. If take a step back and look at what "images" come from your media and are beamed accross the world I hope you will be able to see where Arildno is coming from. People with Money seem to be made into demi-gods and beyond, big cars, big houses, fancy jewels.. etc etc

    It is a valid question, which nobody has answered. What is it with your culture that makes people look at rich people (Hip Hop Stars, Movie Stars, CEO types) with such asperation? Is it because the drive to make a buck or Million was a large motivational factor of all people who emagrated to the US all those years ago, and even today.
     
    Last edited: Jun 29, 2006
  23. Jun 29, 2006 #22

    Astronuc

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    Well for one, the media like to sensationalize the trivial and mediocre.

    To say that Americans aspire to be wealthy is an unfair generalization. On the other hand, clearly some Americans do. In fact, some people in all cultures or society aspire to Power, Property and Prestige - e.g. the nobility of Europe, the Pashas and Caliphs of the middle east, various Emperors and Royalty of Asia, and so on.

    I think those people who idolize the wealthy or celebrities are somewhat dissatisfied with their own lives.
     
  24. Jun 29, 2006 #23

    loseyourname

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    It's funny you mention this, because one of the reasons she admires him is specifically because he has built up a huge business empire yet he does nothing to flaunt his wealth. I see where you're coming from, but you're directing it at the wrong girl and probably at the wrong super-rich business mogul.

    She's one of those persons that swears by Dale Carnegie and Napoleon Hill and Tony Robbins. She wants to someday be a self-made success story like Charles Schwab, Colonel Sanders, Ray Kroc, or Warren Buffett. This may or may not be uniquely American, the Horatio Alger dream story, but it has nothing to do with bling-blinging. Those guys were known for their perseverance and ability to motivate people, not for living extravagantly and getting tabloid attention. There is a sizable subculture of aspiring entrepeneurs in the US that eat this stuff up like candy, modeling themselves after Zig Zigler or Carl Karcher. None of their idols are media celebrities, they're simply self-made men who embody the chief virtues of entrepreneurship: self-reliance, ingenuity, foresight, perserverance, and even luck. In the case of Buffett, add in generosity.
     
    Last edited: Jun 29, 2006
  25. Jun 29, 2006 #24
    Apparently quite a few fundamentalists in the US are stongly opposed to Buffett's philanthropy:

    http://news.yahoo.com/s/ap/20060629/ap_on_re_us/billionaires_abortion [Broken]

    With rhetoric ranging from...
    ...all the way to
    Sick, very sick.
     
    Last edited by a moderator: May 2, 2017
  26. Jul 10, 2006 #25
    Charging "fees" for Good Samaritan Acts?

    No doubt the most interesting debate as to Warren Buffet's generousity came amidst criticism from the "Capitalists" view on CNBC two weeks ago, and also amidst Walmart's announced plans to become eco-friendly and also to educate employees on better health.

    It was CNBC's Kudlow's guest who beraded Walmart and Buffet for what he felt was both's failure to prioritize decisions according to "return on investment."

    I admit I was encouraged by Gates and Buffet's respective announcements of corporate generousity, particularly in light of a 10-year trend of overly generous cororate compensation.

    Having said this - I'm wondering if now's a good time to raise my fees for Good Samaritan Acts, in keeping with sound principles of capitalism?
     
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