Comments:Warren Buffett to host world's most expensive lunch

Back to article

This page is for commentary on the news. If you wish to point out a problem in the article (e.g. factual error, etc), please use its regular collaboration page instead. Comments on this page do not need to adhere to the Neutral Point of View policy. Please remain on topic and avoid offensive or inflammatory comments where possible. Try thought-provoking, insightful, or controversial. Civil discussion and polite sparring make our comments pages a fun and friendly place. Please think of this when posting.

Use the "Start a new discussion" button just below to start a new discussion. If the button isn't there, wait a few seconds and click this link: Refresh.

Average Story...Average Score

Since you're already going against his most important teaching: "milk the fools for all they will give, and then some." Which he's masterfully demonstrating here.

But no, I don't think admiration is the motivation. And since it seems neither is publicity, that leaves only foolishness indeed? It's eBay after all, anything can happen...

Why do the richest people on the planet get so much credit for giving to charity? Especially when it requires taking from others to get so rich in the first place, the money they give will just come back to them as they live at the top of the economic food chain, and this guy isn't even giving his own money, he's holding auctions so he can give other people's money to charity and get credit for it! When a few million would just be pocket change to this multi-billionaire anyway. Over the course of 10 years? Not impressed.

So much absurdity.

Agreed!

Unfortunately, your insane hatred of the rich will prevent you from seeing the good that this money will do.

In the end, if the current system does not change, money will continue to be funneled from the poor to the rich. All charity will only alleviate short-term problems but be ineffective in providing any significant changes on a global scale ultimately.

Can you explain to me the good that it will do? I see basically nothing. The core problem of economic inequality is the rich hoard wealth far beyond their needs, denying others access and thus creating poverty. Buffett is donating roughly .0001% of his net worth, and he's not even donating from his own hoard of wealth. Furthermore, all the poor can do with charity money is give it right back to the rich to buy necessities. He's doing nothing to alleviate anything, and getting tons of credit for it.

Technically, I could give a penny to charity, and it would be more meaningful.

And don't imply that my criticism is like some irrational prejudice. Being rich isn't a genetic trait, it's the act of hoarding wealth and actions are subject to criticism.

I think there's a little more to being rich than just saving your pennies.

There is more to becoming rich, yes, unless you're born into it.

Regardless, it doesn't change the fact that he witholds tens of billions of dollars from circulation. All that money is tied to his name and remains stagnant and useless there. The wealthiest 1% of the population which he belongs to hoards a majority of the world's wealth in this fashion, leaving a small remainder that can't support the population that is forced to compete for it.

Most of his net worth isn't in liquid assets, though. The bulk of his wealth is tied up in securities, since that's how he makes his living. Certainly, one can imagine that the dividends from those stocks and bonds are plenty enough to enrich him, but it isn't like he can just go out and buy a ten billion dollar car at the drop of a hat.

What good will it do? Check out the charity -- its a church in the Tenderloin. Here's its mission statement (from Guidestar):

  1.  Expand our Global Ministries program, in which Glide partners with communities in the US and around the world to find creative solutions to community struggles.
  2. Expand our computer programs for adults and children by partnering with various technology firms and individuals in Silicon Valley and the surrounding area.
  3. Continue the process of integrating our new programs into the existing programs of Glide to further our mission to provide comprehensive, holistic services.

Reading through the bullshit: Preaching to crackheads, and maybe teaching them MS Word. Better than some rich douche spending the $$ on a sports car, but let's not kid around, its still just dollars gettin' thrown around for vanity.