Saturday, June 19, 2010

Buffett to the very rich: "Spread your luck around!"

Warren Buffett, and Bill & Melinda Gates, are asking the extremely wealthy to pledge to give the majority of their wealth to charity.

"My luck was accentuated by my living in a market system that sometimes produces distorted results, though overall it serves our country well. I've worked in an economy that rewards someone who saves the lives of others on a battlefield with a medal, rewards a great teacher with thank-you notes from parents, but rewards those who can detect the mispricing of securities with sums reaching into the billions. In short, fate's distribution of long straws is wildly capricious."


The announcement on Charlie Rose.

Billionaires, please click here.

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