A will that tugs at the nerves of the global financial community.
On June 28, 93-year-old Warren Buffett revealed the contents of his latest revised will to the Wall Street Journal. This super-rich man, who is worth as much as $118 billion, actually wants to donate almost all of his wealth to charity!
This decision not only shocked Wall Street, but also sparked a global heated discussion. Why did Warren Buffett do this? How will his estate be used? What will be the impact on global philanthropy?
Let's uncover the secrets behind this "sky-high will".
The Last Gift: Warren Buffett's "Philanthropic Legacy"
According to the latest will, Buffett will stop donating to the Gates Foundation after his death and instead pour all his fortune into a new charitable trust.
The fund will be co-managed by his three children, Howard, Susan and Peter.
"It should be used to help people who are not as lucky as we are." Warren Buffett said.
According to the data, Buffett is currently worth about $118 billion, ranking fifth on the list of the world's richest people. According to his will, he will donate 99% of his wealth, or about $116.8 billion!
How will this amazing wealth be used? Warren Buffett gave clear instructions:
- Helping the poor
- Improving educational resources
- Promote the development of medical and health care
- Promote social equity
Why Philanthropic Legacy? Warren Buffett's three major considerations
Buffett's move is amazing, but it's not a whim. According to expert analysis, there are three deep considerations behind this:
- Family tradition
Warren Buffett's father, Howard, is a famous philanthropist who influenced him since he was a child.
"I learned from my father that with wealth comes responsibility." Warren Buffett once said so.
- Social responsibility
Warren Buffett believes that the super-rich should take on more social responsibility.
"There are 8 billion people in the world, and my children and I have always been in the luckiest 1%." "It's a responsibility to give back to society," he said. "
- Inherit the idea
Warren Buffett doesn't want his children to live on inherited wealth alone.
"It's irresponsible to leave too much money for your children." This has been his view for many years.
Warren Buffett's "Empire of Philanthropy": An Act of Good That Lasted 50 Years
In fact, Warren Buffett's philanthropy has a long history.
Back in 2006, he pledged to donate 85% of his fortune to charities such as the Gates Foundation.
Up to now, Warren Buffett has donated about $50 billion, ranking first in the global list of charitable giving.
His philanthropic footprint spans the globe:
- In Africa, malaria control projects are funded
- In India, women's education is supported
- In the U.S., helping low-income families
Now, this "philanthropic legacy" will be a continuation of his life's work.
Warren Buffett's children: Father taught us one last lesson
For their father's decision, Buffett's three children expressed full support.
The eldest son, Howard, said: "This is the last lesson our father taught us how to use our wealth properly. "
Daughter Susan said: "We will strictly follow my father's last wish to make the most of this money." "
The youngest son, Peter, adds: "It's not just a legacy, it's a responsibility. We will treat it with caution. "
Expert interpretation: The far-reaching impact of Warren Buffett's will
Warren Buffett's move will have a profound impact on global philanthropy.
Robert Iger, director of the Harvard Center for Philanthropy Studies, said: "This will usher in a new trend of philanthropy and encourage more wealthy people to get involved in philanthropy. "
Wang Ming, dean of Tsinghua University's Institute of Philanthropy, pointed out: "Warren Buffett's approach has set an example for China's wealthy and is worth emulating. "
Your opinion: How should wealth be passed on?
Warren Buffett's decision has sparked thinking about wealth inheritance.
What do you think the super-rich should do with their estates? Donate it all or leave it to your children?
Feel free to share your views in the comment section!
