Why the wealthy are giving away their cash

Cancel the wild parties. Forget the mad business ideas and the string of failed marriages. Tell the therapists to find something else to do. The poor little rich kid, a stock character used by novel and magazine writers, is set to become as archaic as the typewriter. The mega-rich are starting a trend of disinheriting their children. Recently, Berkshire Hathaway Inc. chairman Warren Buffett made headlines with his decision to donate 85% of his $44bn fortune to charities. The main beneficiary will be the Bill & Melinda Gates Foundation. Most media coverage focused on the alliance forged...