With great money comes great responsibility, or at least that is how the saying goes. In the case of billionaire Warren Buffett, he is known for being both extremely frugal and extremely giving at the same time. This attitude of charity has gone on to make him one of the most respected investors and businessmen in the country. Warren Buffett recently made a huge donation of $3.17 Billion to the Bill & Melinda Gates Foundation. This was part of his recent addition to the giving pledge, and Warren has vowed that he will continue to give his fortune away before his demise.
Many would wonder where Warren Buffett’s massive fortune is going to go once he passes away, and the amazing thing is that most of it will not go to his children. Warren Buffett raised his children to be independent, and it has been said that once he paid for their college tuition the gravy train ran dry. This is because Warren Buffett wanted to instill a real work ethic in his children, as opposed to a sense of entitlement that many wealthy children grow up with. Warren Buffett is known for his simple existence, still driving a modest Cadillac and living in the same home for the last fifty years.
Warren is a part of the giving pledge, where billionaires from all over the world have pledged to donate a good portion of their wealth to charity. Warren Buffett has given billions away and will continue to, with a war chest of money that he can donate and no real expenses because he lives so modest. Warren Buffett doesn’t own fancy sports cars or a yacht, instead focusing all of his money back into his investments. Warren Buffett is an amazing investor, and one that many of us can learn from.