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Why Warren Buffett Is Poorer Than Mark Zuckerberg (inc.com)
Facebook's soaring stock price isn't the only reason 34-year-old Mark Zuckerberg is now richer than 87-year-old Warren Buffett. An anonymous reader quotes Inc:
There's another, more important reason that Zuckerberg is now worth more: Buffett has been doing a great job of giving his money away, something that he, Zuckerberg, Gates, and most of the world's most well-known billionaires have pledged to do.
Buffett has given Berkshire Hathaway stock now worth more than $50 billion to the Bill & Melinda Gates Foundation alone. When it comes to giving, Zuckerberg and his wife Priscilla Chan have a lot of catching up to do. They appear to have devoted well under $10 billion so far to philanthropy... On the other hand, Zuckerberg, is more than 50 years younger than Buffett, so they likely have a lot more time in which to do their giving.
Three years ago the couple pledged to give away 99% of their net worth within their lifetimes.
Buffett has given Berkshire Hathaway stock now worth more than $50 billion to the Bill & Melinda Gates Foundation alone. When it comes to giving, Zuckerberg and his wife Priscilla Chan have a lot of catching up to do. They appear to have devoted well under $10 billion so far to philanthropy... On the other hand, Zuckerberg, is more than 50 years younger than Buffett, so they likely have a lot more time in which to do their giving.
Three years ago the couple pledged to give away 99% of their net worth within their lifetimes.
The ends justify the means. Find the 30 richest people and take 99% of their money and redistribute it to everyone equally. Problems solved.
So-called 'philanthropy' from wealthy Westerners and Western nations has been disastrous for Africa and the global environment. This has allowed Africa to have a current population that's far beyond its natural carrying capacity. This distortion is bad enough on its own, but the high rate of reproduction there means that the population is ballooning extremely quickly, amplifying the situation. This is forming what will eventually be the worst humanitarian disaster ever. The next time there's an economic depression, or even just a severe recession, affecting the American and European economies, and the foreign aid from such places dries up, things will go very badly in Africa. There will be nowhere near enough food, nevermind the other necessities of life. If these Africans try to flood Europe and the US, which we're already seeing happen, it will just make the situation worse. Europe and the US are starting to have trouble supporting their own native populations; they just don't have the resources to support hundreds of millions of Africans who can't make any valuable economic contribution in Europe or the US. It saddens me to think of the suffering that so-called 'good intentions' will cause.