A Philanthropic GIANT

Warren Buffett is one of the heroes of the philanthropic world. I have a keen interest in stewardship and philanthropy. Studies show that wealthy people in the USA (those earning more than $200,000 per year) give less than 2% of their wealth away. Warren Buffett is a radical exception.

     Here is the the beginning of his "Philanthropic Pledge" which became public earlier this year:

    In 2006, I made a commitment to gradually give all of my Berkshire Hathaway stock to philanthropic foundations. I couldn't be happier with that decision.

    Now, Bill and Melinda Gates and I are asking hundreds of rich Americans to pledge at least 50% of their wealth to charity.

    So I think it is fitting that I reiterate my intentions and explain the thinking that lies behind them.

    First, my pledge: More than 99% of my wealth will go to philanthropy during my lifetime or at death. Measured by dollars, this commitment is large. In a comparative sense, though, many individuals give more to others every day. Millions of people who regularly contribute to churches, schools, and other organizations thereby relinquish the use of funds that would otherwise benefit their own families. The dollars these people drop into a collection plate or give to United Way mean forgone movies, dinners out, or other personal pleasures.

    In contrast, my family and I will give up nothing we need or want by fulfilling this 99% pledge.

Well done, Mr. Buffett. May I have one ounce as much generosity as you display.