Elsewhere online
May 06, 2016

Buffetts Call Philanthropy a 'Product of Power'

In an essay published by Time, Jennifer and Peter Buffett call philanthropy "a product of power and privilege" and promise to work to ensure that their charitable dollars "don't recreate the very systems that keep women from accessing their power in the first place."

The essay by the couple, the son and daughter-in-law of investment guru and philanthropist Warren Buffett, comes two months after their NoVo Foundation said it would commit $90 million over seven years to reduce adversity faced by girls and young women of color. The foundation has embarked on a national tour to solicit feedback from women of color on how the money might best be spent. 

The NoVo Foundation was established in 2006 after Warren Buffett pledged $1 billion in shares of his investment firm, Berkshire Hathaway, to each of his three children to devote to philanthropy as they see fit.