CNet.com article: In a New York Times story about billionaire Warren Buffett’s relationship with Bill Gates and their common disdain for inherited wealth, Buffett bluntly dismissed the idea of giving the bulk of his billions to his three children.
“I don’t believe in dynastic wealth,” he said, calling those who grow up in wealthy circumstances “members of the lucky sperm club.”
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What is the Lucky Sperm Club?
I think most people would say the Lucky Sperm Club are people who have been born into wealth, fame or power.
Paris Hilton. George W. Bush. (these are the two that come quickly to mind)
But I would argue that most people reading this post is also part of the Lucky Sperm Club. Not me, you think. I didn’t inherit a legacy of millions of dollars, chauffers, paparazzi or the ears of decision makers.
Well, consider that nearly half the planet consists on less than 2 dollars a day, or an annual salary of around 100 dollars.
Think about that.
Do you think you could blow through a Benjamin in a day, or at least in a week? You’re spending more than 3 billion people make in a year.
It’s almost like a coin is tossed before you come into existence. Heads, you have a good chance of growing up in a developed nation. Tails, you live a life of extreme poverty.
Takeaway: You, your family and everyone you know, is part of the lucky sperm club.