Buffett and Gates: Billionaire Bluster
Approximately 40 (out of 400) billionaires in the U.S. have committed to give away half of what they have. Prompted by Warren Buffett and Bill Gates, they have signed the “Giving Pledge.” Though the adulation they’ve received has been substantial and has come from all quarters, the billionaire bluster has been troubling, even nauseating, to me.
Ron Rosenbaum has written a somewhat sarcastic piece for Slate about the billionaire “Giving Pledge.” He’s skeptical. How much money is each billionaire really pledging to give? When? To what organizations? How will anyone know whether the billionaires have honored their pledges? Rosembaum’s solution is for the billionaires to give the money away now, so that those who need it will be helped immediately.
Here’s what troubles me. Most of the billionaires have turned layoffs into profit centers so their companies can show a profit again and add to their billions. If they really want to help, let them place specified amounts in a trust to assist the unemployed — sort of a private unemployment compensation system strictly monitored by independent auditors. Or just give the unemployed jobs. They would alleviate a lot of pain for millions of people and prod all employers to step up and do their part.
Here’s what makes me nauseous. Parading their billions around like peacocks during the Great Recession is bad form or worse. A billionaire is who George Eliot had in mind when she wrote: “He was like a cock who thought the sun had risen to hear him crow.” Bragging about what you’ve done isn’t the way to inspire or lead your employees or anyone else, particularly in hard times. Jesus wasn’t impressed with the rich who gave much to the temple treasury. The lowly widow who gave two mites – ”all she had to live on” — is still the model for anyone’s giving pledge.
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Chris Parker's practice focuses on the representation and counseling of companies in matters pertaining to the workplace and the protection of their intellectual property and trade secrets. In addition to serving as an advocate for clients, Mr. Parker is also trained as a mediator and frequently serves as a third-party neutral.
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While serving in an Of Counsel relationship with the firm, Mr. Bridgesmith also serves as the Executive Director at the Institute for Conflict Resolution at Lipscomb University and as an officer and principal in Strategic Resolutions Group, LLC. In these roles, Mr. Bridgesmith brings over 30 years of legal experience in dispute resolution and innovative workplace strategies to clients, students and business entities alike.
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Good on you John.
Certainly goes against the precept, “Don’t let your right hand know what your left had is doing.”
E.
E,
I hadn’t thought about that precept, but you’re exactly right. Thanks for making it part of this post.
John