We had a great family discussion tonight. I had seen some of the TEDx Live event at work. I was fortunate enough to see the interview with Bill and Melinda Gates. I couldn't wait to get home to tell the boys about it. I really wanted to see their reaction.
The important parts of the interview for me were Bill's graph and their latest effort at philanthropy. Bill's graph illustrated the downward trend of child deaths (under the age of 5) since 1960. In 1960, the annual number was 20M. Last year, that number was under 6M. But the end game, is just on the horizon. We may see that number go all the way down, in our lifetime.
The other piece of the interview started with child raising philosophy. The Gates had read an article by Warren Buffet advising the extremely wealth against giving their children everything and leaving all their money to be inherited. Buffet said that by doing so, it didn't do the kids any favors and didn't do the world any favors. The Gates planned to educate their children well. But they would not hand them anything. The would not provide enough for the kids to do nothing. 95% of their wealth will be given away through the Gates foundation. Then Warren Buffet pledged 80% of his wealth to the Gates foundation. The Gates are now on a mission to get other wealthy folks to do likewise. So far they have over 120 commitments.
Both my boys listed earnestly. They asked some good questions. They didn't even flinch about not getting much to inherit. They were amazed that some many had committed to divesting their assets. It was a really great dinner conversation.
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