Buffett Children Emerge as a Force in Charity

AOL/New York Times ^ | July 2 06 | JEFF BAILEY

[churchillbuff]

[T]he siblings said in interviews, they were already at work trying to figure out how to manage a gift from their father valued at about $1 billion each that will go to their own charitable foundations.

That will propel them, along with a larger foundation named for their late mother, into the top ranks of philanthropy — dwarfed, to be sure, by the Bill and Melinda Gates Foundation and the $60 billion or more endowment from the Gates and Buffett fortunes.

The younger Buffetts, given their current interests, could emerge as powerful forces in the areas of early childhood education, safe drinking water and the well-being of Native Americans.

The foundation named for their mother — Warren Buffett and two of his children are on the board — will roughly double in size to about $5 billion. It will be able to greatly increase spending on birth control and on making abortions available, a cause supported by both Warren Buffett and his late wife, Susan Thompson Buffett. He has spoken relatively little about the issue in public, and neither did she.

[Paleo Conservative]

I wonder how much the salaries will be for "managing" these "charities" will be?

[Celtjew Libertarian]

[T]he siblings said in interviews, they were already at work trying to figure out how to manage a gift from their father valued at about $1 billion each that will go to their own charitable foundations.

First, they'll throw a little celebration that, no matter what happens with the estate tax, their Daddy managed to dodge around it, even as he lobbies in favor of it.

[Chi-townChief]

Bet they never push themselves away from the buffet table.

[TAdams8591]

Marking.

[Banjoguy]

I wonder how much the salaries will be for "managing" these "charities" will be?

My feeling is that charities should not be a 'force'. When the net worth of charity is a billion dollars, it is no longer a charity but a powerful political organization. It won't be long before a political agenda will emerge.

[Sonny M]

My feeling is that charities should not be a 'force'. When the net worth of charity is a billion dollars, it is no longer a charity but a powerful political organization. It won't be long before a political agenda will emerge.

The political agenda emerged a long time ago.

And it hasn't been hidden.

And it looks like there is nothing anyone can do to stop them.

[Nomorjer Kinov]

Good thing it didn't matter what womb the Buffet children emerged from. Winning life's lottery while Dad lobbies against lesser people's children - - - chutzpah

[oldbill]

It won't be long before a political agenda will emerge.

It already has:

It will be able to greatly increase spending on birth control and on making abortions available, a cause supported by both Warren Buffett and his late wife, Susan Thompson Buffett.

[Biblebelter]

Howard is the only Republican in the Buffett family, he said. Asked who is the most liberal of the Buffetts, Howard rolled his eyes. "They're all liberal," he said.

Well, it is not all bads news but he is outnumbered.

[Right Wing Assault]

Give me a billion dollars and "I Will Emerge as a Force in Charity".

Not really a very challenging job, giving away money.

Why don't they come up with a program for birth control for muslims? That would be something of value.

[Frank_2001]

Wouldn't it be funny if Congress limited those salaries to, say, $1.00 a year? Well, it's charity, right?;)

[Paleo Conservative]

They're typically 6 figures.

[ClaireSolt]

I think the exclusionary forces of Rep and Dems are more dangerous than another foundation. The more the merrier.

[lilylangtree]

The good little offspring of one of the world's richest demoncRATs have money to burn.

[USFRIENDINVICTORIA]

Give me a billion dollars, and I will turn it into a small fortune within a couple of years.