Tuesday, December 12, 2017
How this Slogan Has Defined Philanthropy for the Buffets and the NoVo Foundation
Peter Buffet put the $10M gifted to him in the NoVo Foundation, co-chaired by himself and his wife Jennifer. As of the end of 2015, according to the IRS, the foundation had $528 million in assets. The Buffetts are co-chairs of NoVo. They pay themselves a dollar a year.
The silver spoon of privilege has not corroded the Buffetts’ instincts. They have good radar. Warren Buffett’s 59-year-old youngest son shared a philanthropic slogan that he said he had considered for the foundation that he and his wife head: “Putting money out of its misery.” The miseries extreme economic inequality has heaped on the world are not entirely lost on the Buffetts....