Why I Give: Warren Buffett ............

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THE PLEDGE: EXCERPTS


Why I Give: Warren Buffett


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 organisations 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. Moreover, this pledge does not leave me contributing the most precious asset, which is time. Many people, including — I’m proud to say — my three children, give extensively of their own time and talents to help others. Gifts of this kind often prove far more valuable than money. A struggling child, befriended and nurtured by a caring mentor, receives a gift whose value far exceeds what can be bestowed by a check. My sister, Doris, extends significant person-to-person help daily. I've done little of this. What I can do, however, is to take a pile of Berkshire Hathaway stock certificates — “claim checks” that when converted to cash can command far-ranging resources — and commit them to benefit others who, through the luck of the draw, have received the short straws in life... At the latest, the proceeds from all of my Berkshire shares will be expended for philanthropic purposes by 10 years after my estate is settled. Nothing will go to endowments; I want the money spent on current needs. My wealth has come from a combination of living in America, some lucky genes, and compound interest. Both my children and I won what I call the ovarian lottery. (For starters, the odds against my 1930 birth taking place in the US were at least 30 to 1. My being male and white also removed huge obstacles that a majority of Americans then faced.)... The reaction of my family and me to our extraordinary good fortune is not guilt, but rather gratitude. Were we to use more than 1% of my claim checks on ourselves, neither our happiness nor our well-being would be enhanced. In contrast, that remaining 99% can have a huge effect on the health and welfare of others. That reality sets an obvious course for me and my family: Keep all we can conceivably need and distribute the rest to society, for its needs. My pledge starts us down that course.

My Comments:


Well, I got this wonderful insight of great Warren Buffet why he is giving.Most of the ideas are a simple common sense and anyone can understand but the bottomline here is who wants to understand?
Let me first notes down few lines which are eye catching.

1)The reaction of my family and me to our extraordinary good fortune is not guilt, but rather gratitude.

Gratitude....thy word.....that is what we Indians needs to learn.We have forget this word named gratitude.Giving back to society.

2)A struggling child, befriended and nurtured by a caring mentor, receives a gift whose value far exceeds what can be bestowed by a check.
Struggling child.....that is where I have written in past.....not all children has that fortune to take birth in wealthy family and WB is helping them.......he doesn't come out and say.....plan your future...it is in your hand.......that again reiterates my belief that some are Lucky and some are not lucky and hence the luckier ones needs to come out and help them...be it a Child or person....

3)and commit them to benefit others who, through the luck of the draw, have received the short straws in life...

Short straw in life............what is that?isn't it an anamoly that such a successful person , WB, writes more then couple of times about LUCK?
Short starw in life means the Luck factor is missing for them.They are not as lucky as others, they have ended up with short straw...kuch bhi kare, kitni bhi mahanat kare safalta hath nahi lagti un logo ko......remember everyone tries and do hard work but not all are successful, agar sab ko safalta mil jati hai to koi Garib(poor) nahi rehta even in USA lots of people lives below average poverty line.....kaun paisa banana nahi cahta?Paisa sab ko pyara hai....
so those who are short of LUCK....which here Buffet says.....who got short straw in life..and hence they needs help.....u can't give up saying that I made my fortune on my own and let them earn their own way.......

4)My wealth has come from a combination of living in America, some lucky genes, and compound interest. Both my children and I won what I call the ovarian lottery. (For starters, the odds against my 1930 birth taking place in the US were at least 30 to 1. My being male and white also removed huge obstacles that a majority of Americans then faced.)...

WB puts himself as lucky as he was born in 1930 and being a Man and white gave him undue advantage.....and he feels that he was lucky ......he feels that as he was born in  America is an advantage....that speaks for eveything..USA main birth liya that was an advantage.......

the last thing he wrote is with the 1% left for him and his family is more then enough .....so with those 99% if he gives back to scoiety....make no difference....that needs to be learned by Indians.....

I have highlighted in different colors some points....I wish my readers ponders upon those sentences and try to understand what WB wants to say and what message he wants to give to us.....