Dustin Moskovitz Doesn’t Plan to Leave His Wealth to the Next Generation
At tonight’s Pando Monthly fireside chat with Dustin Moskovitz, host Sarah Lacy and he discussed philanthropy and his philosophies on sharing his wealth.
Moskovitz disagreed with the “one foot in the grave” philosophy put forward by other wealthy men such as Warren Bufftet. Buffett suggests that he is a better steward of capital than philanthropies and can multiply it to maximize the total impact when donating at the end of his life.
The Facebook co-founder countered by saying, “By investing in philanthropy now, assuming I can find ways to create true impact, the good created will compound as well. In the end, less capital may need to be put to work to create the same overall impact.”
Mozkovitz also gave credit to his fiancé who he said is fully capable of managing the foundation which allows him to continue focusing on building his current startup, Asana.
“I don’t intend to amass capital and leave it to another generation,” Mozkovitz says. “I intend to put it all to work and don’t plan to have any of it left when I pass on.”
As Lacy said, “That’s a lot of capital, and soon to be more at the end of this month.”