Buffett to donate most of his fortune to charity

Post by **SonomaCat** » Sun Jun 25, 2006 5:41 pm

You really have to respect people who do things like this -- not because he is going to be poor afterwards or anything, but simply because he has a choice to make, and he makes the right one.

http://money.cnn.com/2006/06/25/magazin ... tm?cnn=yes

RyeCat · Post by **RyeCat** » Sun Jun 25, 2006 5:46 pm

I really admire Warren Buffet. He's fabulously wealthy, but views money and the building of wealth as a game. He still lives in the same house he bought in the '50s. The man has perspective that so many are missing.

At one of Warren Buffet's birthday parties, the theme was "Casino"...Somebody out there has a picture of Bill Gates and Warren Buffet playing poker.

Ponycat · Post by **Ponycat** » Tue Jun 27, 2006 8:36 am

He was on Charlie Rose last night with Bill and Melinda Gates. Great interview of three pretty neat people.

I liked what he said about his kids and their inheratance. He wanted to give them enough so they could do anything, but not so much that they could do nothing.

ChiOCat · Post by **ChiOCat** » Tue Jun 27, 2006 12:51 pm

What a wonderful step and a wonderful role model.

Now let our "celebrities" start doing a little more of this, rather than expect us all think they are wonderful for donating all their time to causes.

RyeCat · Post by **RyeCat** » Tue Jun 27, 2006 3:29 pm

Did anybody see Stephen Cobert talking about this last night? Something to the effect of "...Warren Buffet is so rich, he's hiring Bill Gates to spend his fortune for him."

mslacat · Post by **mslacat** » Tue Jun 27, 2006 3:48 pm

The only problem with this story, that I wonder about. Most people who have 40 Billion dollars, don't have it sitting in the bank in liquid assets. it ussually is invested in hard assets, hotels, media outlets, stocks, banks and who knows what. How do you turn 30 billion or so dollars in "net worth" into liquid assets and which bank do you deposit it into. What impact could that have on the economy if someone/orginazation decides to turn 30 billion in hard assets in to liquid assets. Maybe none I don't know but 30 billion is a hell of a lot money to be shuffling around.

Ponycat · Post by **Ponycat** » Tue Jun 27, 2006 4:57 pm

mslacat wrote:The only problem with this story, that I wonder about. Most people who have 40 Billion dollars, don't have it sitting in the bank in liquid assets. it ussually is invested in hard assets, hotels, media outlets, stocks, banks and who knows what. How do you turn 30 billion or so dollars in "net worth" into liquid assets and which bank do you deposit it into. What impact could that have on the economy if someone/orginazation decides to turn 30 billion in hard assets in to liquid assets. Maybe none I don't know but 30 billion is a hell of a lot money to be shuffling around.

Basically Buffet is turning over 40 Billion worth of his stock from his company to the foundation and they can cash them in when they want or hold onto them. He stated last night on the Charlie Rose interview he has no intentions of retiring and hopes to make the stocks worth even more. He said this just gives him even more insentive to make the stocks value rise.

It was a great interview and I'm looking forward to reading the magazine article on it.

Post by **SonomaCat** » Thu Jun 29, 2006 6:38 pm

Well, apparently not everyone is thrilled by the announcement:

http://www.cnn.com/2006/US/06/29/billio ... index.html

Ponycat · Post by **Ponycat** » Thu Jun 29, 2006 6:48 pm

Bay Area Cat wrote:Well, apparently not everyone is thrilled by the announcement:

http://www.cnn.com/2006/US/06/29/billio ... index.html

I was wondering when the pro-lifers were going to come out with this. Unbelievable.

Forest for the trees, man, Forest for the trees.

GOKATS · Post by **GOKATS** » Thu Jun 29, 2006 6:52 pm

Bay Area Cat wrote:Well, apparently not everyone is thrilled by the announcement:

http://www.cnn.com/2006/US/06/29/billio ... index.html

Hard to please everyone. I was hoping the money would go to the GOKATS Foundation.

Best facilities by far in the BSC and anyone wearing 'Blue & Gold' would be guaranteed a seat at any 'Cat venue.

Post by **SonomaCat** » Thu Jun 29, 2006 7:13 pm

GOKATS wrote:
Bay Area Cat wrote:Well, apparently not everyone is thrilled by the announcement:

http://www.cnn.com/2006/US/06/29/billio ... index.html
Hard to please everyone. I was hoping the money would go to the GOKATS Foundation. Best facilities by far in the BSC and anyone wearing 'Blue & Gold' would be guaranteed a seat at any 'Cat venue.

I'd like to apply for a job with the GOKATS Foundation as soon as Buffett and Gates fund it adequately!

GOKATS · Post by **GOKATS** » Thu Jun 29, 2006 7:34 pm

Bay Area Cat wrote:
GOKATS wrote:
Bay Area Cat wrote:Well, apparently not everyone is thrilled by the announcement:

http://www.cnn.com/2006/US/06/29/billio ... index.html
Hard to please everyone. I was hoping the money would go to the GOKATS Foundation. Best facilities by far in the BSC and anyone wearing 'Blue & Gold' would be guaranteed a seat at any 'Cat venue.
I'd like to apply for a job with the GOKATS Foundation as soon as Buffett and Gates fund it adequately!

Once the funding is firmly in place, I'll PM you. I think you'd make a great team member.

Post by **SonomaCat** » Thu Jun 29, 2006 10:33 pm

Ahhh, happy thoughts.