The discussion on how the super rich should spend their wealth goes on. After the oil boom it was the (some times bizarre ) spending habits of Sheikhs that made news. But the recent examples of Warren Buffet and Bill and Melinda Gates have given a new direction to the discussion. These people occupy the top of any rich list worldwide and have created their wealth all on their own. They have also been encouraging the America’s richest people to commit at least 50 percent of their net worth to charity. To lead by example, Warren Buffet has committed 99 percent of his significant fortune to charity. Similarly, Bill and Melinda Gates have donated, so far, more than $ 28 billion to their foundation and plan to donate a chunk of their wealth to the charitable causes.
This discussion got a fillip by the decision of Diddy to gift a silver Maybach to his son Justin Dior Combs on his 16th birthday. Diddy was asked about his extravagant decision on ABC’s “Nightline†He became defensive in his answer but claimed he did not need to explain himself to anybody as only he knew how he was raising his children.
Diddy has always been in the news for his lavish lifestyle and extravagant spending habits. The most recent instance was his spending $118,000 on booze. And it is not the last from the Hip- Hop mogul. What do you say?
via: NyDailyNews , Philanthropy
