Commentary on Warren Buffet's gift to Bill Gates

THE RICH GET RICHER?

Warren Buffet just gave Bill Gates $31 billion. Now, that's strange---the second richest man in the world giving the richest most of his fortune. Apparently, Buffet doesn't want to end up "disgraced" and is taking the advice of Andrew Carnegie. Carnegie, who made millions from the steel industry and left his name on a few places, suggests in The Gospel of Wealth that the rich must not only pass on their fortunes, but they must leave it to other wealthy people who are better equipped to make good of the money. "The man who dies thus rich," wrote Carnegie, "dies disgraced." So, Buffet is giving his money to the Bill Gates Foundation which leads the world in philantrophic and charitable causes. According to NPR, Buffet will also give $6 billion to several other charities started by his family.

It sounds like a good thing. Through the Gates Foundation, much good will come. But, what if Buffet saw a way to spread his wealth beyond that small, small circle? I applaud Gates for what he has done, but there are plenty of charities out there with visions for a better and more just society. But it is Buffet's money and he can do what he pleases. I'm just not sure that this philantrophic gesture alters the wealth picture. Then again, I think that's what Carnegie wanted.

(June 2006)