My instincts are to go along the idea of encouraging individual philanthropy. But I do not believe in giving away other people’s money, and so Berkshire Hathaway, at the parent-company level, does not make charitable contributions. When I die, all of the money has to be spent within 10 years after the estate has closed, because I do not think that I can pick out some little great-great-grandchild yet to be born, you know, just because he has the right name of Buffett or she has the right name, and they will be the best custodians. I mean, there will be plenty of philanthropists 50 years after I die to take care of the problems of 50 years, but I want the money to get spent promptly and I don’t believe in trying to control things from the grave. I mean, I like to think I can think outside the box, but thinking outside of that particular box?
Ten-year horizon
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