Buffet Trying to Level the Playing Field

Warren Buffett is one of my favorite business-finance gurus but his latest action shows why he's a great human being. Buffett is giving away about 85% of his wealth to Bill Gates charitable foundation. That's $30.7 BILLION.

Buffett's comment to Fortune on his kids is most interesting:

"But I would argue that when your kids have all the advantages anyway, in terms of how they grow up and the opportunities they have for education, including what they learn at home -- I would say it's neither right nor rational to be flooding them with money. In effect, they've had a gigantic headstart in a society that aspires to be a meritocracy. Dynastic mega-wealth would further tilt the playing field that we ought to be trying instead to level."

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