Investors are still trying to understand the impact of Warren Buffett’s retirement. In 94, he writes the last lines of one of the longest professions and success for modern capitalism. The question becomes inevitable: What now, Buffett? The answer has been determined for years: it will donate more than 99 % of the wealth.
The next Buffett investment will not be a decision at the last minute. Like all the allocation of great resources, Megain -Coating studied a lot and plans for this next step.
Everything is written on a speech, “My Charity Pretge” or “charitable commitment.” The document was written in 2006 and gives a decision It has already been taken in the same year.
“First, the commitment: more than 99 % of my wealth will be allocated to charitable work during my life or after my death.”
Even with a separation gestureThe billionaire – who currently has more than $ 160 billion – says others are doing a lot for society. “The dollar is measured, this commitment is great. In comparison, but many people donate more to others every day.”
“Millions of people who regularly contribute to churches, schools and other organizations are abandoning the use of money that will benefit their families in another way. The dollars that these people deposit in a collection box or Doam means losing films, dinner or other personal pleasures.”
The Mega -Ridide explains that, unlike others, donate from 99 % of the family’s wealth will not generate deprivation to Pavite. “My family and I will not give up anything we need or want to fulfill this 99 % commitment.”
“This commitment will keep my life style and the pattern of my children who have not touched. They have already received large sums for personal use and will get more in the future. They live a comfortable and fruitful life. And I will continue to live in a way that gives me everything I can want in life. “
“I donated a little of my time.”
Even with the recognition of this material value, the billionaire investor realizes that there are other ways to help – and that in this front fail. “This promise does not allow me to contribute to the most precious good, which is the time. Many people, including – I am proud to say – my three children, they donate a lot of their time and talents to help others,” he said.
“Gifts of this type are often more valuable than money. The child who suffers from difficulties, is supported and feeds by his vigilant teacher, receives a gift that exceeds a lot that can be given a check. My sister, Doris provides great help from one person to another per day.
In 2006, Buffett has already donated about 20 % of all shares in his wallet and showed that he was in a hurry to allocate this money – even after death. “I will continue to distribute about 4 % of the shares I keep. At most, the value of everyone Berkshire’s actions will be allocated for charitable purposes up to 10 years after a fundamental settlement.These.
But why is he – the man who lived and was a major symbol – donate the result of life?
The answer lies in the understanding of Pavite for wealth and luck. Megain -Coating argues that he is victorious in a type of genetic and geographical “lottery”. “My fortune came from A mixture of living in the United States“Some fortunate genes and complex attention”.
“My children and I have won what I call ovarian lottery. For beginners, the chances of my birth in 1930 spoke in the United States of America from at least 30 to 1. The fact that I was a man and white as well The obstacles faced by most Americans at that timeHe said, while realizing his distinguished situation at birth and growth.
This image is maximized as luck by Pavite’s ability to do commercial business. “My luck has emerged to live in the market system that sometimes produces distorted results, although in general, it works well for our country,” he wrote.
“I have worked on an economy that rewards those who save the lives of others with a wonderful medal and teacher, but the reward for those who can discover incorrect securities prices With the amounts that reach billions, “admits.
Looking at this image, Buffett explains that the decision to donate 99 % of shares has nothing to do with error. “My family and my country’s reaction to our extraordinary luck is not guilty, but gratitude.”
Check the full message:
Charitable commitment
Warren Buffett
In 2006, she gradually committed to donate all the actions of Hathaway for charitable institutions. It cannot be happier with this decision. Now, I, Melinda Gates and Melinda Gates ask for hundreds of wealthy Americans who have been at least 50 % of their wealth to charity. Therefore, I find it appropriate to emphasize my intentions and explain the thought behind them.
First, my commitment: More than 99 % of my wealth will be allocated to charitable work during my life or after my death. The dollar is measured, this commitment is great. However, comparison, many people donate to others every day. Millions of people who regularly contribute to churches, schools and other organizations open the use of money that will benefit their families. The dollars deposited by these people in a basket of collecting or donating to UNITED WAY WAY Films or dinner away from home or other personal pleasures.
On the other hand, my family and I will not give up anything we need or want to fulfill this commitment by 99 %. Also, this commitment does not allow me to contribute to the most expensive good, which is time.
Many people, including – I am proud to say – my three children, they donate a lot of their time and talents to help others. Gifts of this type are often more valuable than money. A child who suffers from difficulties, supported and nurtured by his vigilant teacher, receives a gift of which its value often can be given a check. My sister, Doris, provides great help from one person to another daily. I did a little of it.
However, what I can do is take a pile of Hathaway Berkshire’s work certificates-“claims for claim”, when converting them into cash, can generate comprehensive resources and settle them for the benefit of others who were lucky in their lives. To date, about 20 % of my actions have been distributed (including the procedures that my late wife, Susan Buffett), have been distributed. I will continue to distribute about 4 % of the shares I keep annually. At most, all Berkshire’s income for charitable purposes will be allocated up to 10 years of fundamentalist settlement. Nothing will be allocated to property boxes; I want the money to be invested in the current needs.
This promise will leave my life style and the pattern of my children who did not touch. They have already received large sums for personal use and will get more in the future. They live a comfortable and fruitful life. And I will continue to live in a way that gives me everything I can want in life.
Some physical things make my life more fun; Many, however, he will not do it. I would like to have an expensive private plane, but the presence of half a scale of homes will be a burden. Often, a wide range of goods ends with the presence of its owner. The good that I appreciate, along with health, is interesting, varied and long friends.
My fortune came from a mixture of living in the United States, some fortunate genes and complex attention. My children and I have won what I call ovarian lottery. (First of all, the chances of my birth in 1930 in the United States were at least 30 to 1. The fact that I was a man and white also removed huge obstacles that most Americans faced at that time.)
My luck has been distinguished to live in the market system that sometimes produces distorted results, although in general, it serves our country well. I worked in an economy that is rewarded with a medal that saves the lives of others in the battlefield, and is equivalent to a great landmark with thanksgiving feast tickets, but reward those who can discover the incorrect pricing of the addresses while reaching billions. In short, the long fiks distribution of the destination is very volatile.
My family’s reaction and our exceptional luck is not guilty, but with gratitude. If we use more than 1 % of my exams on ourselves, our happiness nor our well -being will be improved. On the contrary, the remaining 99 % may have a significant impact on the health and well -being of others. This reality determines a clear path for me and my family: to maintain everything we need and distribute the rest to society, to your needs. The commitment begins with this path. “
