"In today's tough economic climate, Warren Buffett is setting a good example. The world's second richest man lives in the same five-bedroom, gray stucco house he bought in 1958 for $31,500."
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Sunday, March 15, 2009
Homes of the Billionaires
I'm proud of living well beneath my means, but Warren Buffet has me beaten all to heck. Article.
"In today's tough economic climate, Warren Buffett is setting a good example. The world's second richest man lives in the same five-bedroom, gray stucco house he bought in 1958 for $31,500."
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"In today's tough economic climate, Warren Buffett is setting a good example. The world's second richest man lives in the same five-bedroom, gray stucco house he bought in 1958 for $31,500."
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Warren also doesn't believe in handing down his fortune to heirs who haven't earned it. That way you avoid getting that whole Bertie Wooster type. He's leaving his to the Gates foundation.
ReplyDeleteWarren Buffet is the real-life Scrooge McDuck. "I didn't become this rich by throwing my money out the windows!"
ReplyDelete;-)
It cost $31,500 in 1958, but I'll bet I couldn't afford it today.
ReplyDeleteAnd Scrooge employs Donald (polishing coins).
ReplyDeleteSo Donald can lead a more or less comfy life, and can support 3 kids (who never get raised).
And buy presents for Daisy.
And go on a world tour with Scrooge every now and then, to explore new drilling sites for oil.
What would life be without Scrooges? More miserable? I think so.
According to a recent Vogue magazine article about Melinda Gates the WHO says that the Gates Foundation's vaccination program in the third world (financed to some extent, not sure if all or what proportion, by Buffet) has saved about 3.4 million lives. One gets to be forgiven a certain amount of other scroogery for that sort of thing.
ReplyDeleteAnd this my writing is being supported / made possible by using
ReplyDeleteWindows ME.
The only thing about the Gates foundation (I don't know why Melinda gets her name on it, she didn't do anything to earn the money) gives scholarships in the U.S. to minorities (a noble idea) but specifically excludes all caucasians! There are poor white people too (ever heard of white trash?).
ReplyDeleteAre you sure? Isn't it illegal to take race into consideration?
ReplyDeleteMadoff got filthy stinking rich, gave a ton of stolen money to charities (to get more back in investments) and lived like an ordinary New Yorker too.
ReplyDeleteCapitalism breeds capitalists, and you need all kinds to keep that engine running. They usually camouflage themselves with local color.
I think it must be true, Big E. I was curious myself and looked it up. Wikipedia has this to say:
ReplyDeleteThe Gates Millennium Scholars fund, according to its official website's frequently asked questions section, only provides scholarships to African American, American Indian/Alaska Native, Asian, Pacific Islander American or Hispanic American applicants.
An op-ed by Ernest W. Lefever, published in the Los Angeles Times on November 1, 1999, criticized the program for its exclusion of Caucasians:
"America's most celebrated college dropout had a great opportunity to boost higher education, help needy students and strike a blow against racism, but he blew it. If Bill Gates had been able to chat with Teddy Roosevelt before launching his breathtaking $1-billion program of college scholarships, America would be a better place. Unless significantly amended, Gates' 'minority' scholarships will further inflame racial tensions, delay the achievement of a colorblind society and subvert the cherished virtue of reward by merit. The Gates Millennium Scholarships for thousands of high school seniors over the next 20 years are intended to produce more scientists, engineers, doctors and educators from among American minorities, who, he claims, are woefully underrepresented in college. His commitment to arbitrarily preferred groups is bound to increase racial resentment. Gates' vague concept of 'diversity' confuses the laudable diversity of cultural talents that strengthens the nation with the self-conscious racial diversity that divides it by breeding arrogance and envy."
Damn, that's stupid. I would'a thunk Gates was too bright for that.
ReplyDeleteEven if it was laudable, how do you do it? Is a mulatto "black"? How about a Dane? I'm a minority if I live in the US. If not a Dane, how about an Albanian? Is it based on being underprivileged or on race? How about a black from a rich family?
ReplyDeleteOnce again, the web proves itself to be as malleable as the people using it...
ReplyDeleteThe Gates Foundation website states:
"We’re funding scholarships to expand access to college for low-income and minority students and to encourage public service and leadership in the following ways:
Remove financial barriers for low-income students who are ready for college.
We’re funding scholarships to give college-ready, highly motivated students the opportunity to attend the college of their choice. Most of our programs focus on low-income and minority students. Some programs fund additional graduate study in the areas of public health, education, science, engineering, mathematics, and library science."
Help low-income students get ready to succeed in college.
We’re funding college scholarships in select high schools, working to raise college aspirations and readiness in low-income communities. One program is in our home state of Washington; the other is in the nation’s capital. Both provide academic, financial, and social support—from tutoring and mentoring to career counseling and leadership training—to prepare 7,250 low-income students to enter college, stay in college, and graduate with a bachelor’s degree.
Sponsor future leaders committed to improving the lives of others.
We’re creating an international network of future leaders to work in agriculture, health, technology, law, and learning—and make the world a better place. Scholarships fund graduate studies for 1,000 international students at Cambridge University in England, for 1,000 U.S. students pursuing careers in public service law at the University of Washington, and for 360 female, African scientists pursuing careers in agricultural research and development in sub-Saharan Africa.
BTW, according to Above & Beyond (and based on the Consumer Price Index average for each year compiled by the U.S. Bureau of Labor Statistics) Warren's house would cost $196,603.45 in today's US dollars. Still a pretty good deal.