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Gates, Sting, other celebrities plan on stiffing their kids

Warren Buffett

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Warren Buffett

The Oracle of Omaha, worth some $70 billion, famously quipped: "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." The chairman and CEO of Berkshire Hathaway and active philanthropist has publicly pledged to donate 99 percent of his wealth to worthy causes during his lifetime or at death, most to the Bill & Melinda Gates Foundation.

Adam Jeffery | CNBC