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>> “In 2006, I pledged to distribute all of my Berkshire Hathaway shares — more than 99% of my net worth — to philanthropy. With today’s $4.1 billion distributi

>> “In 2006, I pledged to distribute all of my Berkshire Hathaway shares — more than 99% of my net worth — to philanthropy. With today’s $4.1 billion distribution, I’m halfway there.” So that would imply his net worth is half what it was in 2006. But of course it’s not, it’s never been higher (103 Billion according to Forbes last year). Interesting that CNBC chose not to explore this rather obvious inconsistency in Buffet’s statement.

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pjscott 5y ago
He’s halfway there in terms of how many of his shares of stock have been given away.
tinco 5y ago
According to the article he's donated 45 billion, which is really close to half of the 103 billion figure you're quoting, especially considering that those donations were made over the last decade. So where's the inconsistency?
- nextstep 5y ago
  Where’s the inconsistency? When he made this claim (2006), his net worth was around 50 billion. Now it’s around 100 billion. He’s somehow managed to double his net worth AND get media coverage that he’s given away half his wealth.
  - burnished 5y ago
    I see that your take away is that Warren is lying, right? Have you considered that his wealth is growing faster than he can give it away?
  - pb7 5y ago
    The statements seem pretty clear. He said he has given away half his shares, which he has. The other half happens to have appreciated a great amount since his last statements. Do you understand how the stock market works? It goes up all the time. Berkshire Hathaway is no exception. Tens of billions were still donated, regardless of his current wealth.
  - tinco 5y ago
    What do you mean "somehow"? Warren Buffet doesn't magically make money, he runs a successful investment business. At some point in history it was worth 10k later it was 50 billion and later still it was 100 billion. Also in 2006 he said he would give half away, which at the time was worth 25 billion according to you, but at this point he has given away 45 billion, which according to him is half his net worth. There's obviously no inconsistency, interesting that you would not point that out.
nextstep 5y ago
If I’m misunderstanding the math here, can someone please explain this (instead of just downvoting me )? The numbers from Forbes show him roughly doubling his wealth since 2006.
- tinco 5y ago
  He is accruing value faster than he is spending it. He was worth 50 billion in 2006, and giving away half would have meant giving away 25 billion. But last year he was apparently worth 100 billion, and he has already given away 45 billion worth of assets. It's a bit hard to quantify exactly how much he should give away to make good on his promise, because the dollar amount is a moving target. I think maybe he means half of his holdings in Berkshire Hathaway. I haven't looked into what sort of assets he has, but judging from his public writings I wouldn't be surprised if the shares are the only thing of significant value he owns.

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pjscott 5y ago

He’s halfway there in terms of how many of his shares of stock have been given away.

tinco 5y ago

According to the article he's donated 45 billion, which is really close to half of the 103 billion figure you're quoting, especially considering that those donations were made over the last decade. So where's the inconsistency?

nextstep 5y ago
Where’s the inconsistency? When he made this claim (2006), his net worth was around 50 billion. Now it’s around 100 billion. He’s somehow managed to double his net worth AND get media coverage that he’s given away half his wealth.
- burnished 5y ago
  I see that your take away is that Warren is lying, right? Have you considered that his wealth is growing faster than he can give it away?
- pb7 5y ago
  The statements seem pretty clear. He said he has given away half his shares, which he has. The other half happens to have appreciated a great amount since his last statements. Do you understand how the stock market works? It goes up all the time. Berkshire Hathaway is no exception. Tens of billions were still donated, regardless of his current wealth.
- tinco 5y ago
  What do you mean "somehow"? Warren Buffet doesn't magically make money, he runs a successful investment business. At some point in history it was worth 10k later it was 50 billion and later still it was 100 billion. Also in 2006 he said he would give half away, which at the time was worth 25 billion according to you, but at this point he has given away 45 billion, which according to him is half his net worth. There's obviously no inconsistency, interesting that you would not point that out.

nextstep 5y ago

If I’m misunderstanding the math here, can someone please explain this (instead of just downvoting me )? The numbers from Forbes show him roughly doubling his wealth since 2006.

tinco 5y ago
He is accruing value faster than he is spending it. He was worth 50 billion in 2006, and giving away half would have meant giving away 25 billion. But last year he was apparently worth 100 billion, and he has already given away 45 billion worth of assets. It's a bit hard to quantify exactly how much he should give away to make good on his promise, because the dollar amount is a moving target. I think maybe he means half of his holdings in Berkshire Hathaway. I haven't looked into what sort of assets he has, but judging from his public writings I wouldn't be surprised if the shares are the only thing of significant value he owns.