Like what you've read?

On Line Opinion is the only Australian site where you get all sides of the story. We don't
charge, but we need your support. Here�s how you can help.

  • Advertise

    We have a monthly audience of 70,000 and advertising packages from $200 a month.

  • Volunteer

    We always need commissioning editors and sub-editors.

  • Contribute

    Got something to say? Submit an essay.

 The National Forum   Donate   Your Account   On Line Opinion   Forum   Blogs   Polling   About   
On Line Opinion logo ON LINE OPINION - Australia's e-journal of social and political debate


On Line Opinion is a not-for-profit publication and relies on the generosity of its sponsors, editors and contributors. If you would like to help, contact us.


RSS 2.0

Why the Third World Needs Capital Not Charity

By Kris Sayce - posted Friday, 29 October 2010

Some may say that Bambi's mother dying is the saddest thing they've ever seen.

Others think that Travis shooting Old Yeller in the book and film of the same name is much sadder.

While the girls of the Sayce family think the movie Hachi: A Dog's Story, starring Richard Gere is the most sadderest thing ever in the history of sadness.


But that's not the sort of thing that makes me sad.

The kind of news that saddens me is stories such as this from 2006:

“Buffett donates $37 billion to charity”

Not that he seems to have actually donated it yet. According to the 2006 report, “Mr Buffett will hand 10 million shares in his Berkshire Hathaway firm to the Bill and Melinda Gates Foundation.”

Or maybe he has, we don't know. But according to the Forbes list of billionaires, Mr Buffett still ranks in third place with a fortune of USD$47 billion, behind Carlos Slim and Bill Gates, both with USD$53 billion.

More recently this headline caused us to sigh in despair:


“40 billionaires sign up to Bill Gates and Warren Buffett's charity drive”

Apparently “Forty of the world's wealthiest entrepreneurs - including Oracle founder Larry Ellison and Star Wars creator George Lucas - have signed the ‘Giving Pledge’ charity initiative launched by Warren Buffett and Bill Gates, whereby billionaires agree to donate huge chunks of their fortunes to charity.”

The article goes on:

  1. Pages:
  2. Page 1
  3. 2
  4. 3
  5. 4
  6. 5
  7. 6
  8. All

Discuss in our Forums

See what other readers are saying about this article!

Click here to read & post comments.

17 posts so far.

Share this:
reddit this reddit thisbookmark with Del.icio.usdigg thisseed newsvineSeed NewsvineStumbleUpon StumbleUponsubmit to propellerkwoff it

About the Author

Kris Sayce is editor of Money Morning. He began his financial career in the City of London as a broker specializing in small cap stocks listed on London’s Alternative Investment Market (AIM). At one of Australia’s leading wealth management firms, Kris was a fully accredited adviser in Shares, Options and Warrants, and Foreign Exchange. Kris was instrumental in helping to establish the Australian version of the Daily Reckoning e-newsletter in 2005. In late 2006, he joined the Melbourne team of the leading CFD provider in Australia.

Other articles by this Author

All articles by Kris Sayce

Creative Commons LicenseThis work is licensed under a Creative Commons License.

Article Tools
Comment 17 comments
Print Printable version
Subscribe Subscribe
Email Email a friend

About Us Search Discuss Feedback Legals Privacy