Latest news with #TheDavidRubensteinShow
Yahoo
12-05-2025
- Business
- Yahoo
Warren Buffett Says He Made An 'Incomprehensible Sum' Doing What He Loves — But The Money Means Little: 'Society Has A Use For My Money; I Don't'
Warren Buffett has worn the title of "richest man in the world." He's built one of the most powerful holding companies in history. And he's spent decades casually throwing around billion-dollar deals like most people swipe for lattes. Yet, in his own words, he doesn't need the money. In 2021, in a statement titled "Comments by Warren E. Buffett in Conjunction with His Annual Contribution of Berkshire Hathaway Shares to Five Foundations," Buffett wrote: "Over many decades I have accumulated an almost incomprehensible sum simply by doing what I love to do... Society has a use for my money; I don't." Don't Miss: Deloitte's fastest-growing software company partners with Amazon, Walmart & Target – Maker of the $60,000 foldable home has 3 factory buildings, 600+ houses built, and big plans to solve housing — According to Forbes, he's donated roughly $62 billion since 2006—part of his long-standing pledge to give away more than 99% of his wealth. Unlike many billionaires who cling to their fortunes or spend it on jets, islands, or ego projects, Buffett's message has been the same: he doesn't need it, he doesn't want it, and he's more than happy to let society put it to better use. Buffett has made it clear—again and again—that money holds no personal appeal. In a 2016 interview on "The David Rubenstein Show", he said, "Money in terms of making trips or owning more houses or having a boat or something — it has no utility to me whatsoever." This is a man who could buy a skyscraper every time he gets bored—but he lives in the same house he bought in 1958 for $31,500 and says no other home would make him happier. He drives a 2014 Cadillac with hail damage. He drinks Cherry Coke like it's water. Trending: Here's what Americans think you need to be considered wealthy. And while the average millionaire might spend weeks negotiating over a single property, Buffett once bought a $4 billion company—Israeli metal giant Iscar—without ever stepping foot inside. Another time, he acquired the RV company Forest River after a 20-minute chat with the founder. Although in 2021—when he made the statement about accumulating "an almost incomprehensible sum"—his plan was to give his fortune to five foundations, that's since changed. In 2025, Buffett revised his estate plan: the remaining $130 billion will instead be transferred to a charitable trust overseen by his three children—Susan, Howard, and Peter. All decisions about how the money is distributed must be made unanimously, a structure Buffett believes will lead to careful, collaborative giving. Buffett calls his brand of giving "painless," because he's not giving up anything he personally needs. "I've made no sacrifice," he said. And he means it. His joy doesn't come from spending—it comes from doing what he loves: investing, building, buying, and reading company reports for fun. Read Next:Nancy Pelosi Invested $5 Million In An AI Company Last Year — Image: Shutterstock Up Next: Transform your trading with Benzinga Edge's one-of-a-kind market trade ideas and tools. Click now to access unique insights that can set you ahead in today's competitive market. Get the latest stock analysis from Benzinga? APPLE (AAPL): Free Stock Analysis Report TESLA (TSLA): Free Stock Analysis Report This article Warren Buffett Says He Made An 'Incomprehensible Sum' Doing What He Loves — But The Money Means Little: 'Society Has A Use For My Money; I Don't' originally appeared on © 2025 Benzinga does not provide investment advice. All rights reserved.
Bloomberg
17-04-2025
- Business
- Bloomberg
The David Rubenstein Show: Ajay Banga
World Bank Group President Ajay Banga says the best way to eliminate poverty is through job creation. As 1.2 billion young people in emerging markets enter the workforce, he emphasizes the importance of equipping them with the skills and opportunities they need to succeed. In an interview on The David Rubenstein Show: Peer to Peer Conversations, Banga also discusses the World Bank's close collaboration with the IMF and the possibility of lifting its ban on funding nuclear power projects. This interview was recorded March 20 at the Economic Club of Washington, DC. (Source: Bloomberg)
