Warren Buffett’s legacy impacts Colombia

A milestone for regional philanthropy

Warren Buffett

Howard Buffett is Warren Buffett’s son and Executive Director at Berkshire Hathaway. His charity, The Howard G. Buffett Foundation, granted $16.1 million dollars through the Presidential Agency for International Cooperation of Colombia (APC) for the removal of antipersonnel landmines across Colombia; Howard Buffett continues his dad’s philanthropic initiatives.

Warren Buffett is now the world’s second richest man with a net worth of $73.9 billion dollars according to Forbes. Together with Bill and Melinda Gates, they created an initiative called “The Giving Pledge”; its objective is to convince billionaires around the globe to give away at least half of their wealth for the advancement of philanthropy and sustainable charitable causes.

The initiative has 170 members and has grown within the philanthropic sector into an actual force in the economy. It is said that great leaders lead by example and Buffett is no exception. He pledged to give away 97% of his fortune; it will be channeled through the Bill & Melinda Gates foundation.

Through many years, a significant group of economist and social thinkers have risen awareness about the disproportional amount of money that has fallen into the hands of the 1% without evidence of an actual trickle-down effect. Several philanthropic initiatives have surged in the last decade in Latin America and their pursuit has two main stages: first, they intend to position the idea of a collective conscience among the region’s economic leaders as an interesting option for the future. Second, they propose to transition the concept of giving from an out of date charity to a strategic, participative, and collaborative social investment. The added value resides on the possibility for an individual to create a legacy of care and improvement of human standards.

The rise of philanthropy will change our understanding of community in the hopes to improve the living conditions of those who need it the most. We welcome selfless actions, such as the one carried by Howard Buffett, as it shows a real commitment to the sustained improvement of a continent that wishes to be an integrated part of the planet. These actions will hopefully trigger chain reactions towards convincing other important economic players to act on behalf of Latin America and the rest of the developing world.

 

Latin American Post | David Eduardo Rodríguez Acevedo

Copy edited by Susana Cicchetto 

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