GEICO, the second-largest vehicle insurance underwriter in the US, has decided it will no longer cover Tesla Cybertrucks. The company is terminating current Cybertruck policies and says the truck “doesn’t meet our underwriting guidelines.”

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7 points

Without reviewing the structures, this is just a trust me bro

You can literally see the donation of $48B. The pledge itself isn’t legally binding, but he has been consistently donating. He’s 94, so I don’t think it’ll take long to see the proof in the pudding.

Here are some notes from his Wikipedia page:

In 2008, Buffett was ranked by Forbes as the richest person in the world with an estimated net worth of approximately $62 billion. In 2009, after donating billions of dollars to charity, he was ranked as the second richest man in the United States with a net worth of $37 billion.

As of 2023, Buffett has given over $50 billion to charitable causes.

I will note that the last figure probably includes the money given to his kids’ organizations (not directly to his kids).

And a quote about inheritance for his kids:

“I want to give my kids just enough so that they would feel that they could do anything, but not so much that they would feel like doing nothing”

He has a pretty consistent track record of philanthropy and statements about philanthropy, so I would be really surprised if he changed that in the last few years of his life. I guess we’ll see though.

why are you worshiping some gereatric nepo baby

Where did I say I was worshipping him? I’m merely saying I think what he’s doing is admirable and that he doesn’t qualify as a “nepo baby.” If you look into his history, he worked hard throughout his early life to save and invest, and I see no indications that his parents gave him a huge inheritance or kickstarted his career in any meaningful way. Yeah, his dad was a House Rep for 8 years (6 of those consecutive), and here’s a quote about him on his father’s Wikipedia page:

‘Unshakably ethical, Howard refused offers of junkets and even turned down a part of his pay. During his first term, when congressional salary was raised from $10,000 to $12,500, Howard left the extra money in the Capitol disbursement office, insisting that he had been elected at the lower salary.’ His wife said he considered only one issue when deciding whether or not to vote for a bill: ‘Will this add to, or subtract from, human liberty?’

That doesn’t sound like the kind of man to give his son an unfair advantage…

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3 points

You are poorly educated on the issue and you are citing propaganda he paid for.

Please do some proper researcher on topic of oligarch charity and what that’s all about.

I can’t believe in 2024 we still have adults larping this shite. No wonder we got shit sociology-economic conditions and only getting worse…

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1 point

If you have better sources, I’m happy to review them.

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5 points
6 points

It’s not charity to give money to an organization you (or friends or relatives) control, it’s a way to keep your assets under your control without having to pay taxes that would otherwise be required.

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0 points

It is if that charity uses the money to help people. So any accusation needs to actually look at the financials of those orgs to see where the money is going.

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0 points

That would be true if he were secretly using those charities to enrich himself but there’s no evidence of that at all.

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1 point

I think you’re missing the point - it’s not that he’s enriching himself - he’s already done that. It’s that the charity carries out his will, not necessarily the will of people who need charities.

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