Opinion: Why ‘Super-Rich’ Give So Little

A fellow at the Brookings Institution has attempted to answer the question “Why do today’s super-rich devote so little of their wealth to engaging in life’s most pleasurable act?” in an opinion piece in the Los Angeles Times.

Gregg Easterbrook says that despite the record-breaking giving reported in an annual survey of America’s biggest donors, the very rich—with the exception of Warren Buffett—have given a tiny fraction of their net worth.

Mr. Easterbrook argues that considering the Dow Jones industrial average increased by 16 percent last year, the very rich can donate far more than they actually do. Even Bill Gates does not escape Mr. Easterbrook’s criticism.

Mr. Buffett topped the annual survey conducted by The Chronicle of Philanthropy and the online magazine Slate of America’s most-generous donors.

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