What do you think of socioeconomically wealthy people such as Sting, Nigela Lawson, Bill Gates,
Warren Buffett, Michael Bloomberg & Jackie Chan who WON'T leave their children inheritances but instead will leave the money to their favorite charities, feeling that if their children want to be wealthy, they ought to EARN their OWN wealth?
I think it is their right to choose. It is NOT their children's money. However, what will happen in reality is that the Last Will and Testaments of these people will be challenged and their kids will in all probability end up with the money - minus, of course, the huge amounts taken by the lawyers who win the cases for them.
A lot of wealthy people are joining Buffet and Gates in The Giving Pledge, to give the majority of their money to philanthropy or charitable causes during their lifetime, or in their will. Some of these folks are divesting themselves of their wealth while they are living, so there won't be a fight over it after they're gone, but I have to believe that those who are leaving their money to charity after their death are smart enough to discuss their wishes with their families, and have wills that can't be broken.
I'm all for this sort of giving. People really should earn their own living, and make their own way in the world. Once your rich family raises with you all the privileges that comes with being born wealthy, you should be armed with a great education, and plenty of contacts. There's no reason kids who come from rich families shouldn't go out on their own, and make their own fortunes, like everyone else.
More than that, I believe that those who earn great wealth have an obligation to give back to the society that allowed them to do so. Dedicating a huge chunk of their wealth to philanthropy or charity is a great way to do that.
In Islam,there are definite laws for the distribution of inheritance.According to the Qur'an the children of the deceased receive a certain amount from the wealth.ONE THIRD part of the wealth can be given to anyone other than relatives. In this way,there is a fair share of wealth given to all.
Leaving behind something for your children is obligatory for a Muslim.
+1000000000000000000000, leaving behind something for your descendants should be obligatory for all affluent people, not only Muslims. Your descendants-children, grandchildren, great-grandchildren, & so on should be provided for. It is totally SELFISH for affluent parents to not leave their descendants anything!
by IDONO 3 years ago
Do you have to be evil to be rich and successful?It seems like anyone that is successful is automatically scrutinized by media and the public in general as a person with a dark side. I realize it's next to impossible to be successful without stepping on someone along the way, but does that make you...
by Sophia Angelique 3 months ago
According to Malcolm Gladwell in his book, Outliers, the answer is no.Gladwell showed repeatedly that whether people who succeeded or not, depended a great deal on how much wealth and education their parents had. For example, children who have the benefit of a private school learn a lot of things...
by Scott S Bateman 3 months ago
In my experience, they are more than they are not. Science backs it up. Your thoughts?https://www.washingtonpost.com/news/spe … 503c1fe516
by Grace Marguerite Williams 2 years ago
When will people come to the realization that socioeconomic wealth is a good thing. Wealth means a better quality of life for one & one's family. It also grants more opportunities for one's children. It means greater access to superior medical care & nutrition. ...
by Ralph Schwartz 15 months ago
Can someone define what their, or anyone else's "fair share" is?Each day I hear complaints about rich people not paying their "fair share" of taxes - someone define "fair share" for me.
by Grace Marguerite Williams 4 years ago
in fact, wealth is a positive thing which enhances and elevates one's standard of living? Do these people realize that wealth means more socioeconomic choices? When will they realize that being poor and struggling is an abnormal way of life, existing from day to day? ...
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