Bill Gates’ Philanthropy In Perspective


Carlos Slim and the Giving Pledge

Carlos Slim Helu is one of the prominent people to have declined to sign the Giving Pledge promoted by Warren Buffett and Bill Gates.Here is his reasoning:

“I prefer that Bill Gates create a Microsoft or Steve Jobs create an Apple.” Giving away their personal wealth “is an interesting idea… but it won’t solve any problems. They will make that money tax deductible and give 5% [of the overall amount] every year to [the actual] charity. If they collect $300 billion, they will use only $15 billion every year. That won’t solve any problems.” Read more of this post

Back From Hospital

wealthymatters.comI’m back from hospital.I’m still awaiting the reports.Hope it’s not the C – word.

I’m still a bit groggy with the pain-killers I need to take and sleeping all the time.I’ll be back to posting ASAP if everything goes fine.

For the reader asking for a follow-up article on “A Critique of The Giving Pledge’ please check the philanthropy section for the more recent articles.I think you’ll find what you’re looking for there.

A Critique of the Giving Pledge

Following is a very nice critique of the Giving Pledge and the Buffett-Gates style of philanthropy.I found it a couple of days ago at . It points out the good and the bad in the effort.The red text are points I find particularly interesting.How do you feel about the Giving Pledge? On what points do you agree/disagree with the author below?

Are Gates and Buffet teaching the world how to live (or give), the American way?

By Dingzi

AMERICAN billionaires and founders of The Giving Pledge Bill Gates and Warren Buffet may be heading next for the Nobel Peace Prize. Imagine what a heap of good the billions that have been pledged can do to make a better world.

Having persuaded 40 fellow American super-rich to pledge at least 50 per cent of their wealth to charity by the time they die – the collective pledge has reached US$1.25 billion – the two philanthropists are taking the campaign international. Read more of this post

A German Perspective on Philanthropy

I came across this article by chance while looking for information on Chinese billionaires.It is from Der Spiegel.I was struck by the point made by Peter Kramer.Thought I’d put up the article here.What do you think about this point of view?Do write me your comments.I would love to hear them.



Negative Reaction to Charity Campaign

German Millionaires Criticize Gates’ ‘Giving Pledge’

Germany’s super-rich have rejected an invitation by Bill Gates and Warren Buffett to join their ‘Giving Pledge’ to give away most of their fortune. The pledge has been criticized in Germany, with millionaires saying donations shouldn’t replace duties that would be better carried out by the state.

Last week, Microsoft founder Bill Gates attempted to convince billionaires around the world to agree to give away half their money to charity. But in Germany, the “Giving Pledge,” backed by 40 of the world’s wealthiest people, including Gates and Warren Buffet, has met with skepticism, SPIEGEL has learned.

“For most people that is too ostentatious,” said the asset manager of one of the billionaires contacted by Gates, adding that many of the of the people contacted had already transferred larger proportions of their assets than the Americans to charitable foundations.

 Dietmar Hopp, the co-founder of the SAP business software company, has transferred some €2.9 billion to a foundation. Klaus Tschira, another founder of SAP, has handed more than half his wealth to a foundation.

Peter Krämer, a Hamburg-based shipping magnate and multimillionaire, has emerged as one of the strongest critics of the “Giving Pledge.” Krämer, who donated millions of euros in 2005 to “Schools for Africa,” a program operated by UNICEF, explained his opposition to the Gates initiative in a SPIEGEL interview.

SPIEGEL: Forty super wealthy Americans have just announced that they would donate half of their assets, at the very latest after their deaths. As a person who often likes to say that rich people should be asked to contribute more to society, what were your first thoughts? Read more of this post

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