Warren Buffett is a world-renowned billionaire who made his fortune through the stock market. He’s known as one of the world’s best investor and is a widely followed investment guru. He is also a philanthropist who has given away billions of dollars for charity purposes. One of the notable recipients of his philanthropy is the Bill and Melinda Gates Foundation.
When it came to the world of philanthropy, the interaction during an interview between Ariane de Rothschild and Buffett is an unforgettable and a rather intriguing one. This interview was documented by the German filmmakers Ralph Gladitz and Gisela Baur.
While it is known that the present generation of Rothschild has inherited their wealth from the ancestors, Buffett makes a rather unexpected remark at the inheritance. He openly tells Ariane de Rothschild that he doesn’t believe in dynasties. Being the self-made man that he is, it is no wonder that he doesn’t endorse or believe in dynasties. Buffett has decided to donate his money to the charities instead of giving them to his children. He thinks that giving his self-made money to children makes them entitled and they ought to make their wealth.
While Buffett points out how he doesn’t believe in dynasties, de Rothschild shares her perspective on how equally difficult it is to live up to people’s expectations when they inherit the family’s name as well as the money. The banker Ariane de Rothschild says the recent financial crisis has been really tough and thus, sustainable growth and development should be considered. In the wake of this crisis, it has become much difficult for the Rothschilds to manage people’s expectation. As they have all been the center of mystery and conspiracy theories, it is fairly accurate to understand Ariane’s perspective on dynasties and the responsibilities they bring.