Bill Gates Quotes About Wealth
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I remember thinking quite logically that I didn't want to spoil my children with wealth and so that I would create a foundation, but not knowing exactly what it would focus on.
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There is no doubt that as an economy grows in a great way like India has, that you have to step back and change your tax systems, because you start to get more disparities of wealth.
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I don't believe in creating dynastic wealth. I don't really believe that in a society that aspires to be meritocratic and that believes in equality of opportunity - my kids have had advantage over 99 percent of the kids in the country.
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In a system of capitalism, as people's wealth rises, the financial incentive to serve them rises. As their wealth falls, the financial incentive to serve them falls, until it becomes zero. We have to find a way to make the aspects of capitalism that serve wealthier people serve poorer people as well.
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I realized about 10 years ago that my wealth has to go back to society. A fortune, the size of which is hard to imagine, is best not passed on to one's children. It's not constructive for them.
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Contrary to Piketty’s rentier hypothesis, I don’t see anyone on the [Forbes 400 list of the wealthiest Americans] whose ancestors bought a great parcel of land in 1780 and have been accumulating family wealth by collecting rents ever since. In America, that old money is long gone - through instability, inflation, taxes, philanthropy, and spending.
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I believe that with great wealth comes great responsibility, a responsibility to give back to society and a responsibility to see that those resources are put to work in the best possible way to help those most in need.
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I have drifted away from thinking about these philanthropic things. And it was only as the wealth got large enough and Melinda and I had talked about the view that wealth wasn't something that would be good to just pass to the children.
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Taking a look back, one big reqret is, I left Harvard with no real awareness of the awful inequities in the world. The appalling disparities of health and wealth and opportunity that condemned millions of people to the lives of despair. I learned a lot here at Harvard about new ideas and economics, and politics. I got great exposure to the advances being made in the sciences. But humanities greatest advances are not in its discoveries, but in how those discoveries are applied to reduce inequity.
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