The Giving Pledge

 Warren Buffett’s fame rests on his startling achievements as well as philanthropic activities. He made the first investment when 11 years old by purchasing stocks of Cities Service for $38 per piece. He made $175 per month by delivering The Washington Post every morning when he was 16 years old. He also sold collector stamps, used golf balls and buffed cars. By age of 16, he made a wealth of $53,000.

In 1958, he has lived in a 5-bedroom house instead of moving into mansions or vacation homes. He never invested in expensive cars. He strongly believed that a good father would not pass on his entire wealth to his children, rather the role of a good father is to make his kids independent and confident.

He dedicated a large sum of his wealth to support charitable works. He pledged 85% of his Berkshire Hathaway stocks to charitable foundations. He gave away 99% of his wealth to Bill & Melinda Gates Foundation. With Gates, he founded ‘The Giving Pledge’ in 2009 which motivated billionaires to give away half of their fortunes to charities.

Too many of us hold on top our wealth to be used for our children. However, Buffett said, ‘I want to give my kids just enough so that they would feel that they could do anything, but not so much that they would feel like doing nothing’. He chose to pledge to give and share with those who need it.

It is okay to be aspirational but we must also be responsive to the realities of our fellow human beings. The pledge to give is a clear commitment to share our riches by choosing simple living and high thinking. Although, it was an appeal to billionaires, not all pledgers are billionaires. Let’s pledge to give!

Wealth will surely slip through Time’s sieve

Let’s choose simplicity and pledge to give!

- Pravin K Sabnis