Wednesday, April 13, 2011
Pooja Thakur, April Lee and Andrew Frye, Bloomberg
Pooja Thakur, April Lee and Andrew Frye, Bloomberg
Bill Gates Says Heirs Are Cheapskates
Bill Gates, the college dropout who started the world’s richest charitable fund, said people in need depend on self-made millionaires and billionaires to donate money before passing their wealth on to less-generous heirs.
“Our experience worldwide is that first-generation wealth is actually more generous than dynastic wealth,” Gates, the richest American, said today at a press conference in New Delhi. “Both here in India and U.S. and other countries, the biggest givers are those who are receivers of first-generation wealth.”
Gates started the Giving Pledge in June with Warren Buffett and offered membership to billionaires who agree to commit half their fortunes to charity.
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Posted by Editor on 04/13/11 at 07:11 AM •
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