Commentary

Warren Buffett and the myth of the 'good billionaire'

From 2014 to 2018, billionaire Warren Buffett's wealth soared by US$24.3 billion, but he paid only US$23.7 million in taxes. PHOTO: AFP
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NEW YORK (NYTIMES) - Mr Warren Buffett appears to be the safest kind of billionaire: the good kind. Mr Buffett is neither Zuckerbergian messiah nor Musky provocateur, neither Bezosist space cadet nor Sacklerian undertaker. He is, or seems to be, quiet, humble, indifferent to money, philanthropic and critical of the system that allowed him to rise. Years ago, a proposed tax increase was named after him.

It is easy for people to think: If only members of the Sackler family were more like Mr Buffett, imagine how many lives would have been saved. If only the billionaires who have not signed the Giving Pledge would give away as much as Mr Buffett has pledged to, imagine the impact on the world. If only more billionaires would make use of the system without feeling the need to pervert it, so many of our troubles would vanish.

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