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Bonds Are a 'Safe' Investment: A Big Lie Gets Even BiggerIn 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?
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