Should philanthropists follow Gates’ lead in giving away their fortunes during their lifetimes?
Those who plan to leave their offspring financial legacies must inculcate good habits among their beneficiaries
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[SINGAPORE] Bill Gates caused quite a buzz when he visited Singapore in May. He met with key government leaders, spoke at high-profile events, dined at Newton Food Centre and announced the opening of a Gates Foundation office in Singapore.
The 69-year-old co-founder of Microsoft is the foundation’s chair, and was once the world’s richest person. Earlier this year, he captured the public’s imagination when he announced that he intends to give away 99 per cent of his vast fortune over the next 20 years.
Gates wants to accelerate his giving via his foundation, with plans to end its operations in 2045.
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