It would seem that no good deed can ever go entirely unpunished, or at least pass without comment. No sooner did Bill Gates launch The Giving Pledge, a challenge to wealthy individuals to commit to pass their wealth on to charity upon their death, than discussion began as to the whether this was the best way to handle charitable giving. (For related reading, check out The Christmas Saints Of Wall Street.)
The Story So Far
Bill Gates, formerly of Microsoft (Nasdaq:MSFT), has made a new name for himself in recent years as a major participant in charitable giving. Not only has Gates been active in his own "Bill and Melinda Gates Foundation", but he has taken on a prominent role in attempting to encourage other very wealthy individuals to make similar charitable commitments.
While there were anecdotal reports of Gates' success (reportedly he encouraged Warren Buffett to accelerate some of his charitable plans), he was apparently not satisfied with operating exclusively behind the scenes. In launching The Giving Pledge, Gates has publicly called upon wealthy individuals to publicly commit to sizable charitable donations, and at least 40 individuals and couples have responded.
To read the full column, please continue on to:
http://financialedge.investopedia.com/financial-edge/0810/Is-The-Giving-Pledge-A-Good-Idea.aspx
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