In sharp contrast to Warren Buffett, who pledged the bulk of his fortune to the Bill & Melinda Gates Foundation last year, Rupert Murdoch gave $100 million worth of News Corp (NYSE:NWS) stock to each of his six children this week. If Buffett's announcement was a sign of his commitment to philanthropy, Murdoch's decision could be seen as a sign that he believes in nepotism.
Buffett has been vocal about his opposition to inherited wealth in the past, even going so far as to call it un-American. Several decades ago, when his daughter asked him for money for remodeling her home, he suggested that she go get a bank loan like anyone else.
While it's impossible for someone like me to judge Murdoch for giving so much money to his children, it doesn't mean I won't try! What do you think about Murdoch's "generosity"? If you had a vast fortune, would you leave your children such a large sum of money?











Reader Comments (Page 1 of 1)
2-06-2007 @ 8:57AM
jonathan said...
both have a point. i'd just leave $1 million to each of my kids. and give the rest to fund cancer research or in green fuel for cars.
2-06-2007 @ 8:57AM
dARRYL said...
i HAVE WORKED MY WHOLE LIFE HARD, ENJOYED WHAT i DID, AS MANY OF TODAYS CHILDREN ARE SELF ABSORED, AND WANT THEIR TOYS AND PLAY ALL IN THE SAME TIME. GIVE PART OF YOUR MONEY TO THE CHILDREN AND KILL THEM WITH KINDNESS. THE CHAIRITIES ARE AS BAD AS ONES CHILD, THEY WILL PEE IT AWAY AS FAST.MAYBE i WILL TAKE A BAG OF GOLD TO HEAVEN AND USE IT FOR PAVEMENT ALONG WITH A TRAILER HITCH ON THE HEARSE TO PUT THE U-HAUL TRAILOR TO ETURNITY
2-06-2007 @ 8:57AM
jason said...
the stocks are investments and not just tangible checks, so the children should be able learn about the investments and what they are worth right? it's a lot easier to piss away tangible cash than an investment portfolio, if planned correctly..
2-09-2007 @ 10:54PM
ANDY DE HOOP said...
BUFFET IS A GREAT CAPITALIST,MURDOCH USES CAPITAL TO GET BUSH AND THE NEOCON CABAL ELECTED !
2-06-2007 @ 9:34AM
RJK said...
I THINK IF YOU ARE ABLE, YOU ARE MORALLY OBLIGATED TO HELP YOUR FAMILY-(CHARITY BEGINS AT HOME) AS WELL AS WORTHY CHARITIES WHEN YOU ARE SURE THE MONEY GOES FOR THE INTENDED PURPOSE-THIS HAS TO BE CHECKED OUT THOROUGHLY FIRST.FAMILY COMES FIRST,BUT -YOUR CHURCH CAN ALWAYS USE FINANCIAL ASSISTANCE-THE CHARITIES THAT HELP FEED AND CLOTHE PEOPLE ARE ALSO WORTHY OF ASSISTANCE. THERE HAVE BEEN SO MANY COMPANIES THAT HAVE CUT THOUSANDS OF JOBS-WHAT ABOUT A DISPLACED WORKER FUND OR SOMETHING OF THAT KIND UNTIL THESE PEOPLE GET BACK ON THEIR FEET? I ALSO FEEL NOT ENOUGH CAN BE DONE FOR OUR SERVICEMEN AND WOMAN WHILE THEY ARE SERVING AND WHEN THEY RETURN HOME. NONE OF OUR VETERANS SHOULD HAVE TO WANT OR NEED FOR ANYTHING,OR THEIR FAMILIES WHILE THEY ARE AWAY FROM HOME.THERE ARE MORE PLACES THAT MONEY SHOULD GO TO THAN ANYONE CAN COUNT. IT IS ULTIMATELY UP TO THE PERSON WITH THE CASH TO GIVE AS THEY SEE FIT.
2-07-2007 @ 7:50AM
Bob De Dea said...
I am a strong believer in capping inherited wealth. Often those who insist that in America everyone has the opportunity to earn their own way are the same who believe in keeping and bequeathing their accumulated wealth and are against an inheritance (they would say “death”) tax. There is a logical inconsistency in this stance. What child needs more than, say, $5 million to begin life? If the wealthy were required to dispose of their wealth (and I’m talking personal wealth, not monies invested in a family-run business), the economy, along with charities, would seldom see a downturn in their own financial wellbeing. I applaud Mr. Buffett for his stance against dynastic wealth and for his philanthropy.
2-10-2007 @ 3:18PM
Nobody said...
Nobody here: WEll well well, So Mr. Mudock left some money he earned to his kids. For Shame. Do not you people have anything better to do than to criticize someone who cares for his children. I envy him. I wish I had something to leave my children. As it is I raised them to understand that if they did well then they would or should benefit, if not then they might well suffer the consequences. I have no idea what it would be like or is like to have very much money not do I much care quite frankly. We live, we work and we die. Whatever occurs between life beginning and ending is. Oh well, your God is a green dollar bill anyway I suppose. Perhaps you can line your coffin with it and call yourself a saint.