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Disclaimor: Warren does have his own private jet that he let's his own personal jet pilot fly for him... my opinion...Warren and Charlie are modern day robber barrons...would love to see them blow all their money on something they really believed in rather than be so frugal and content.
Something to remember them by like, "They solved the world energy needs through carbon neutral technology"...that would be a worthy way to focus their unique skills, resources and contentment. Though, I do think "giving the world See's chocolates and a Coke" is a pretty awesome way to be remembered too.
I'd also suggest that anyone who is interested might just Google Warren Buffett philanthropy and see the extensive list it brings up. While he may choose to live frugally for himself he is not above spreading what he has around. You might also recall that recently he donated $37 billion to the Bill and Melinda Gates foundation. That hardly adds up to a robber baron in my book.
Reply to @Mark: When the guy worth billions pays less taxes than his secretary he qualifies as a robber barron in my book. A tax savvy robber barron I might add. Maybe its me, but I'd like to see these two guys shake mankind a little more before they hang up their spikes. Creating foundations for his children is just another feel good tax evasion strategy. It makes good business sense, but does little to move the needle of human progress. These two guys and other "billionaires" have the unique previledge to do just that...move the needle of human progress. Instead, they form boards of directorships and selectively decide who gets their wealth. Sorry, wealth is opportunity and I personally think they are both missing an opportunity here. The world could use a couple of benevolent dictators right about now.
Reply to @bee: I guess I prefer this type of robber barrons. The guy lives in Omaha in the same modest house he bough 40 years ago. Donates to charites, good causes. He even comes forward telling that his effective tax rate is lower than his secretary and that is not right. How many other rich people talk like that and attract attention to himself?
Warren and Charlie may be modern-day financial barons, but I surely don't see them as "robber barons". I believe that they have done very well for themselves, and for a lot of other folks as well. I'm not at all sure where the "robber" part comes into play. And I'm with bee with regard to Coke and (especially) See's candy. See's peanut brittle is awesome!
Reply to @bee: Maybe it all relates to the fact that Warren, in particular, doesn't invest in things that he doesn't understand(i.e. benevolent dictatorships). To his credit he pays the taxes that the laws dictate he must, doesn't hide his wealth in offshore bank accounts etc., etc. AND still gives away billions. I understand that you feel there are better ways for him to disperse what he's worked for but do you hold all the other shareholders in BRK up to the same standard?
I guess my point is that your use of the term "robber baron" doesn't jive with the definition of the term as I understand it.
Reply to @Shostakovich: The house in Omana is currently his only house. He had a vacation house in Laguna Beach that he bought in 1996 but sold it in 2005.
Reply to @Shostakovich: The house he lives in was purchases in 1958. So, it is actually 55 years. I was a decade and half off when I said 40 years. Apparently he hashad another house in California which is sold in 2005.
Warren Buffet has pledged to give away 99% of his personal wealth. How many other rich people do you know that does that? He maybe a modern times Barron. Fine! I have issue right now calling him "robber".
Comments
Something to remember them by like, "They solved the world energy needs through carbon neutral technology"...that would be a worthy way to focus their unique skills, resources and contentment. Though, I do think "giving the world See's chocolates and a Coke" is a pretty awesome way to be remembered too.
http://philanthropy.com/article/No-1-Warren-Buffett/137111
I'd also suggest that anyone who is interested might just Google Warren Buffett philanthropy and see the extensive list it brings up. While he may choose to live frugally for himself he is not above spreading what he has around. You might also recall that recently he donated $37 billion to the Bill and Melinda Gates foundation. That hardly adds up to a robber baron in my book.
http://www.looktothestars.org/celebrity/warren-buffett
When the guy worth billions pays less taxes than his secretary he qualifies as a robber barron in my book. A tax savvy robber barron I might add. Maybe its me, but I'd like to see these two guys shake mankind a little more before they hang up their spikes. Creating foundations for his children is just another feel good tax evasion strategy. It makes good business sense, but does little to move the needle of human progress. These two guys and other "billionaires" have the unique previledge to do just that...move the needle of human progress. Instead, they form boards of directorships and selectively decide who gets their wealth. Sorry, wealth is opportunity and I personally think they are both missing an opportunity here. The world could use a couple of benevolent dictators right about now.
I guess my point is that your use of the term "robber baron" doesn't jive with the definition of the term as I understand it.
You, as well as others, make good points...I better stop watching reruns of "The Great Gatsby".
http://finance.yahoo.com/news/homes-of-billionaires--warren-buffett.html
Warren Buffet has pledged to give away 99% of his personal wealth. How many other rich people do you know that does that? He maybe a modern times Barron. Fine! I have issue right now calling him "robber".