Bill Gates and Warren Buffet launched a campaign to get American billionaires to donate at least half of their wealth to charity. The initiative, titled the “Giving Pledge,” calls on billionaires to make a verbal commitment to give away the majority of their fortune, either now or after they die.Forbes estimates that there are approximately 400 billionaires in the United States, with a net worth of about $1.2 trillion. According to the Seattle Times, “the idea came out of a series of private dinners the Gateses and Buffett held in New York and the San Francisco Bay Area over the past year.” Buffett pledged to donate 99 percent of his fortune in a letter this afternoon, writing that “too often, a vast collection of possessions ends up possessing its owner.” So far, four couples have agreed to participate.
Tags: Buffet, Gate.Buffet, Gates, Giving Pledge, Philanthropy
A piece in Forbes says
“But giving isn’t enough. Getting more money should not be Warren Buffett and Bill Gates’ main goal. Creating sustainable aid rather than outright charity should.
The most effective way to reduce poverty: Give educational opportunities, teach employable skills, and create more jobs. Don’t simply give out food and clothing.”
Whereas the initiative by Bill Gates and Warren Buffett to donate a substantial portion of their money is indeed commendable, a lot more needs to be and can be done.
Giving a man a fish is not enough. He must be taught how to fish so that he will be in a position to feed and educate his family.
These billionaires are in a position to have their voices heard. They can bring about systemic change which will greatly assist in reducing poverty. What needs to be addressed are the root causes of poverty.
Actually there are instances where teaching a person how to fish is not enough. That person must have access to a body of water with fish.
That is why we at famvin are so concerned about access to the internet. Without meaningful access to the internet those on the margins will be handicapped and further marginalized in an information-based economy.