Warren Buffett announces $6 billion in donations to five foundations
puchaczyk @ puchaczyk @lemmy.blahaj.zone Posts 5Comments 190Joined 2 yr. ago
puchaczyk @ puchaczyk @lemmy.blahaj.zone
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It's not charity. Billionaires put their assets in foundations because they can use them as a proxy to manage their welth so in case they die their family pays no inheritance tax. Four out of five foundations listed here are controlled by buffetts. I just don't understand the donation to Bill and Melinda Gates Foundation, but it probably not for good reason ethier.