yego.me
💡 Stop wasting time. Read Youtube instead of watch. Download Chrome Extension

Warren Buffett | Getting Rich is Easy


2m read
·May 7, 2025

Speaker: Feel that they have to create a dynasty or anything, and they give it back to society, and a great many do it anonymously. They do it in many states to some extent. We see a little, some concentration of it in Nebraska because, uh, they generally, uh, when you, when you're giving away a lot of money, they call it in the philanthropic world; they call it absorption capacity.

And truth is, it's very, it's very hard to give away a billion dollars to $10 at a time to people who are needy or something of the sort. And so large institutions have this absorption capacity, which tend to be universities or colleges or that sort of thing. And some philanthropies are much more imaginative than others.

But the one thing I've never—well, most of them want to do it anonymously, so I can't tell their specific stories, but I have to say one thing that was astounding is that the same day we bought a billion dollars worth of Bergkshire Class A stock from Ruth. So that, and I guess we were actually buying it from the, the school at that point because he's just given them the—and then, so the transaction was with them, but Mark Bard in our office bought a billion dollars from them, but he also bought $500 million worth of stock from somebody else that nobody will ever have heard of.

And in a different state, and I won't elaborate beyond that, but we have had a very significant number of people, and there's more to come. Uh, and obviously they had to be people that came in early, or their parents did, or their grandparents did, but they've all lived good lives. They haven't denied themselves anything. I mean, you know, they have second homes, and they—but they generally, uh, well, in fact, I would say almost universally, people knew them in the community and everything, but they've, uh, they've used what they, accomp, what they saved. They denied themselves consumption, themselves. That's what savings are: consumption deferred.

Uh, and, uh, they've, uh, they've given, uh, they've financed everything all over the country, and usually they like to do it anonymously. I, I outed my sister when I wrote about her in the annual report, but, but, uh, uh, Ernie's here today, and, uh, uh, she

More Articles

View All
Per capita GDP trends over past 70 years | Macroeconomics | Khan Academy
This is a chart from the New York Times that shows us how per capita GDP has trended on an inflation-adjusted basis since 1947. So you can really think about this as the post-World War II era. World War II, of course, ended in 1945. It’s always good to r…
Diving With Bullsharks | World's Biggest Bullshark
Neil and James search a shipwreck for the mega shark, Big Bull, and other large bull sharks that may be her descendants. “I’m good over here,” Neil says. Bull sharks have a pack-like mentality and swarm around possible food. They surround the divers. Ne…
Is Iran Experiencing a Revolution?
On the 16th of September 2022, groups of women gathered around the Iranian capital of Tehran and began taking off their hijabs, holding them aloft on sticks. With crowds of onlookers cheering them on, they set fire to the headscarves, chanting slogans lik…
Getting started with Khan Academy Kids
So the first thing you want to do is go to your App Store and download Khan Academy Kids. Once you’ve done that, you can open our app and you’ll be greeted by our fun characters. You’ll be taken to a sign-up screen. Click sign up and enter your email. We…
Hanging out with a monitor lizard | Primal Survivor: Extreme African Safari
There’s a monitor lizard right there, right on that termite mound, just basking in the sun. They can either play dead or they can run like grease lightning. Let me see if I can get a better look at it. I can see that this monitor could use a little hel…
Khan Kickoff Pep Talk: Brandi Chastain
Hello Khan Academy students! This is Brandi Chastain, former U.S. Women’s National Team member, Olympic gold medalist, and World Cup champion. I’m here to say to you that what you’re doing is not easy. Trying to learn in an adverse environment to be a ch…