Douwe Osinga's Blog: The rich getting richer

Saturday, August 5, 2006

The rich getting richer

Bill Gates has been the richest man in the world since for forever of course, but the last years it sometimes seemed like he could lose that position. No, not to the boys wonder who founded Google, they are doing quite ok, but are not even close.
I was thinking of Warren Buffet, the sage of Omaha, who made his money by clever investing. If you beat the market consistently by a large margin for sixty years or so even a small starting capital grows quite large. Buffet famously refused to invest in the Internet stocks around 2000, saying he didn't see how they would make money and the bulls were saying that he just gotten too old until it turned out he just still was smart.

Anyway Warren Buffet will no longer be a threat to Bills pole position. Warren gave away most of his money, in total around 37 billion. To whom? To Bill Gates. So it seems true what they say about the rich getting richer (or at least one of them)
Of course this is not quite true. The money wasn't donated to Bill the person, but to Bill the foundation or the Bill and Melissa Gates Foundation, already the largets foundation of its kind, but with Bill Gates quitting Microsoft it is almost the same. And it is a good thing too. Geeks have learned to mistrust the dark lord of Redmond or at least his business ways, but as far as charity goes I think he has made all the right calls.

If I needed somebody to help dispose of 37 billion dollars, I think I'd approach Bill too. He is pretty much the only person with experience in the field.