I’m pretty sure I could write an op-ed about every paragraph of this piece, “The Charitable-Industrial Complex,” penned by the son of famed investor Warren Buffett. For now, take the first.
I HAD spent much of my life writing music for commercials, film and television and knew little about the world of philanthropy as practiced by the very wealthy until what I call the big bang happened in 2006. That year, my father, Warren Buffett, made good on his commitment to give nearly all of his accumulated wealth back to society.
Accumulated wealth? Back to society?
To hear Peter Buffett tell it, there was a bunch of of “social wealth” just sitting around, belonging to everyone and no one. And Warren, well, all he did was sweep it up somehow, leaving society with less. And his great virtue? That he is now giving it back.
Questions for Peter. Where did that wealth come from? And why was his father able to “accumulate” it while others were not? And who specifically did he harm in the process? Who was made worse off?
My own views here: