Uber co-founder Garrett Camp has joined The Giving Pledge, a commitment to give away half of their wealth to charity. So has Infosys co-founder Nandan Nilekani, who signed on along with his wife Rohini.
Camp's net worth is estimated at $5.1 billion while Nilekani's is estimated at $1.7 billion.
The Giving Pledge was created in 2010 by Warren Buffett and Bill and Melinda Gates to encourage the world's richest people to "publicly dedicate the majority of their wealth to philanthropy" while they're still alive.
In a personal blog post announcing his plans, Camp spoke of recent travels to Kenya, where he connected with people living without access to basic services like clean water, food and electricity.
"Beyond just making charitable donations, I [will] also begin spending part of my time on projects where hands-on systems design can create more efficient solutions, and help people who need it most," he wrote.
Camp will be conducting philanthropic research and projects via a new foundation, Camp.org. He told CNBC in an email that the foundation's research is just beginning and its initiatives will ramp up over the next few years.
The Nilekanis announced their commitment in a letter posted to The Giving Pledge website.
"Inequality is increasing sharply in most countries," the wrote. "We see the young and the restless in this interconnected unsure of their future, wanting more but anticipating less...What must the super wealthy do?"
Through the EkStep foundation, the Nilekanis have thus far focused on education. In their statement, they promised to be supportive of "societal platforms," including software that can be used to make a positive impact on those most in need.
According to reports from the Nonprofit Research Collaborative, more than half of the non-profits in the U.S. raise between 50 percent and 100 percent of their money from individuals rather than from foundations and corporations. Most of their largest gifts, however, come after a wealthy donor dies.
But when MBA students at the Ivey Business School at Western University asked Buffett "Are you happy?" his response had nothing to do with money.
"I get to do what I like to do with people that I love," Buffett answered during the 2008 talk. "That is happiness. I am happy day after day after day. How could I be any happier?"
If you're feeling less excited about life than he is, here's a quick exercise that Buffett suggested to the students — that you also can use — as a way to remedy the situation. (Appropriately for Buffett, the exercise uses the stock market as an analogy.)
Here's how it works: First, imagine the people in your life as publicly traded companies — some will succeed and their value will rise, some will flounder and watch their value fall.
"Imagine that I am going to give you an hour, and in that hour, you have to pick one of your classmates to own 10 percent of for the rest of your life," Buffett said.
"Then, when you write that person's name down, I will ask you to list the reasons or qualities that caused you to pick that person." Look for someone you predict will keep gaining value, who you would "buy long," according to Buffett.
Next, Buffett says think about someone who you would "sell short," which means you expect their value to decrease.
Consider the behaviors of the two people you picked and make a list.
"On the one side, you list the qualities of the person who you want to own 10 percent of, and on the other side you list the qualities of the person who you want to short 10 percent of," Buffett said.
When it comes to the person you expect to succeed, "You will find that these are not things you are born with, like the ability to kick a football or sing a high C; they are qualities that you actually generate for yourself," he says. "These are things like generosity, humor, forgiveness — all of the qualities that you admire in other people."
On the other side of the list, "Look at the qualities which turn you off in other people," Buffett said. "If they turn you off of other people — if you have them — you will turn people off of you. Those qualities, you don't have to have. You can get rid of them.
"The thing to do is look at that list and say, 'I want to be like the one I want to own 10 percent of,'" he says. Work on developing the personality of people you admire, while ridding yourself of the qualities you dislike in others.
For Buffett, it works: "The person that does that will be someone that is happy, I guarantee you."
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The billionaire investor's hedge fund, Soros Fund Management, sold 1,700 shares of Apple, and 1.55 million of Snap stock in the September quarter. This wiped out the hedge fund's stake in both companies, U.S. Securities and Exchange Commission (SEC) filings released Tuesday revealed.
It's important to note that the fund's holdings in Apple were relatively small, worth just $291,278 at Tuesday's market close.
However the Snap holding is significant. The 1.55 million shares were worth $19.48 million at Tuesday's close.
There is a lot of bearishness around Snap, which has continued to miss earnings expectations and failed to grow its user base significantly. Snap shares are down over 48 percent since it went public in March. Wall Street analysts are also not sold on Snap. The stock has 19 "hold" ratings, nine "sell," and one "strong sell," according to Reuters data.
Soros Fund Management also reduced its stake in Twitter by 5,700 shares. It still holds 18,400 shares of the social media site.
Facebook also fell out of favor with Soros. The investor dumped 367,262 shares of the social networking giant in the last quarter. Soros Fund Management still owns 109,451 Facebook shares.
The SEC filings only show the change in share ownership of Soros' fund, but no commentary as to his fund's thinking behind the trades.
Major technology stocks have been on a tear this year, although some of the newly-listed names such as Snap have struggled.
Apple, which Soros' hedge fund also sold all its shares in, is up nearly 48 percent year-to-date. Analysts are excited at the potential of the new iPhone X, released earlier this month. Apple shares hit a record high last week.
Soros' position contrasts to Warren Buffett's Berkshire Hathaway, which topped up on Apple shares in the last quarter. Buffett's conglomerate increased its holdings of the iPhone maker's stock by 3.9 million to 134.1 million, a SEC filing released Tuesday showed.
Berkshire also cut its stake in IBM by 32 percent, or 17.06 million shares, in the third quarter, according to a required quarterly filing with the U.S. Securities and Exchange Commission released Tuesday. The stock is the third-worst performer in the Dow Jones industrial average this year, down 10.3 percent.
Buffett's conglomerate increased its holdings of the iPhone maker's stock by 3.9 million to 134.1 million, the filing showed.
It's wrong for people to think that they have to be wealthy to get rich investing in the stock market, famed buy-and-hold investor Ron Baron told CNBC in a Friday interview.
"You have to have a small amount of money and invest it regularly for a long time, and live to get to be old. That's how you get rich," said the billionaire founder of Baron Capital, which has nearly $26 billion in assets under management. He appeared on "Squawk Box" from the sidelines of his annual investor conference in New York City.
"It's all about compounding," he said, referring to the power of making regular investments and reinvesting the returns over decades.
Baron has made billions of dollars by doing extensive research, buying the stocks of what he feels are undervalued companies, and keeping them for an average of about 14 years. But individual investors don't need to pick stocks, he said. "The simplest thing for people to do is buy an index fund."
"If you invest $5,000 a year for 30 years ... it's worth $890,000" based on historical stock market returns, he calculated.
Microsoft co-founder Bill Gates, Amazon founder Jeff Bezos and Berkshire Hathaway CEO Warren Buffett have collectively more wealth than the 160 million poorest Americans, or half the population of the United States.
That's according to a new report from the progressive Washington, D.C.-based think tank Institute for Policy Studies. The report, published Wednesday, calls attention to the wealth inequality in the United States.
The wealthiest 25 billionaires have more than $1 trillion in wealth, that's equivalent to the wealth of 56 percent of the rest of the population, or 178 million people, the report finds.
For the report, the Institute for Policy Studies used data from the most recent Forbes 400 list and the Federal Reserve's 2016 Survey of Consumer Finances, the latest edition of the tri-annual data available.
Since the Forbes 400 was published, Bezos' net worth has increased another $7 billion, the authors note, so these calculations would be conservative for the present moment.
"In 1982, a wealthy American needed $75 million to enter the Forbes 400 list. The minimum wealth necessary in 2017: $2 billion. The 1982 price of admission amounted, in today's dollars, to $189 million, less than a tenth of the wealth of today's poorest Forbes 400 affluents," write the study's co-authors Chuck Collins and Josh Hoxie. "The United States is becoming, as the French economist Thomas Piketty warns, a hereditary aristocracy of wealth and power."
Billionaire entrepreneur and financier Ray Dalio says there are two very different economic realities in the United States right now. That divide is threatening the nation's stability, the Bridgewater Associates founder says, and it's only going to get worse as technology replaces workers.
"[T]here are two economies. We talk of 'the economy.' Recognize that you can't talk about the economy ... there are two economies," says Dalio, speaking to Recode executive editor Kara Swisher on her podcast, Recode Decode, published Monday.
"If you look at the economy of the bottom 60 percent, it is a miserable economy. Not only hasn't it had growth and economic movement and so on, it has the highest rising death rates, it is the only place in the world where death rates are rising because of a combination of opiates, other drugs and suicides," Dalio says. (Indeed, Princeton Professors Anne Case and Angus Deaton found that drugs, alcohol and suicide are a major reason behind rising death rates among non-Hispanic whites in the U.S. with a high school diploma or less.)
There's a revolution happening in Saudi Arabia that could change the kingdom forever, said Thomas Friedman, the Pulitzer Prize-winning New York Times columnist and best-selling author.
"We're seeing the end of the Saudi ruling family" as the world has come to know it, Friedman said Monday on CNBC's "Squawk Box," after the Saturday arrests of four ministers and 11 Saudi princes, including well-known billionaire investor Alwaleed bin Talal. They were detained as part of what was called an anti-corruption purge, in the latest dramatic steps undertaken by Crown Prince Mohammed bin Salman, also known as MBS.
Earlier on CNBC, Robert Jordan, former U.S. ambassador to Saudi Arabia during George W. Bush's presidency, put the weekend roundup in the kingdom through a U.S. lens. "This would be like arresting Warren Buffett or Bill Gates." Jordan also questioned whether the arrests were a play by MBS to consolidate his power.
"This country was ruled by a family and different wings of that family each got their turn based on which brother," said Friedman, who has reported extensively from Saudi Arabia.
"This is a regime that basically governed for 20 years ... one ailing king after the other," said Friedman, a three-time winner of the Pulitzer Prize for international reporting and distinguished commentary. "That is now over. This is the new way. There's going to be one family."
MBS, the 32-year-old son of King Salman, could become ruler later this year or in early 2018 when his 81-year-old father abdicates the throne. In June, Saudi Arabia removed then-Crown Prince Mohammed Bin Nayef, 58, from his role and replaced him with his younger cousin.
The current crown prince is also trying to diversify the Saudi economy, traditionally tied closely to oil revenues, through a plan called "Vision 2030."
When asked how investors or business executives should see the nation after the crackdown, Friedman responded by saying if Saudi Arabia were a stock, he would rate it as a hold, adding that "it's not a buy, it's not a sell, it's a hold."
The mass weekend arrests by Saudi Arabia could be due to both the stated purpose of cracking down on corruption and a power grab by the kingdom's young, reform-minded crown prince who may soon take the throne, said Robert Jordan, former U.S. ambassador to the kingdom.
On Saturday, 11 princes, including well-known billionaire investor Alwaleed bin Talal, and four ministers, including the one in charge of the National Guard, were arrested,
Two weeks ago, Alwaleed, who spoke to CNBC in an extensive interview from his apartment in Riyadh, talked about the massive upcoming Saudi Aramco IPO, his vast investments in shares of U.S. corporations and what he called "a lot of good policies" of President Donald Trump.
Investing columnist Jason Zweig said the most successful investors are those who can put emotion aside.
During a discussion at the 2nd-annual Evidence-Based Investing conference in New York on Thursday, Ritholtz Wealth Management CEO Josh Brown asked Zweig for his list of the greatest investors of all time.
"It would be ridiculous not to name Buffett," said Zweig, a Wall Street Journal columnist, referring to Berkshire Hathaway billionaire Warren Buffett. He also said Berkshire's Charlie Munger belongs on the list.
The columnist said these two investors have a special innate ability not to let emotions affect their decisions.
They are "inversely emotional and are able to turn emotions inside out," he said. In addition, they are "acutely sensitive to the fear inside other people" and are able to take advantage of it.
Zweig added that Munger, who is also the chairman of Daily Journal, doesn't do anything 99.5 percent of the time, but "when he does something he throws big money at the thing."
Munger invested Daily Journal's assets in three bank stocks in March 2009, when the market hit a post-financial-crisis low.
Zweig recalled he asked Munger how he was able to do that, when the financial world was falling apart.
Munger's reply was, "What would be hard about that?" Zweig said.
Zweig also gave advice for people looking to invest in cryptocurrencies like bitcoin.
"Make sure you look first at an exit strategy before investing," Zweig said. "Either it is going to be worth nothing or a lot of money."
He said investors should figure out a plan for what to do if the price goes up rapidly to guard against emotional decisions.
"Nothing is as poisonous to rational investing as making a massive amount of money," Zweig added.
Ritholtz's Brown replied, "My exit strategy for bitcoin is to have it stolen from me."
Zweig has written investing books including "Your Money and Your Brain" and "The Devil's Financial Dictionary." He also edited a revised edition of Benjamin Graham's "The Intelligent Investor," which Buffett once described as "by far the best book about investing ever written."
Disclosure: Josh Brown is a CNBC contributor.