The $100 billion question
Jeffrey Archer was educated at Oxford University. He has served five years in Britain’s House of Commons, fourteen years in the House of Lords, and two in Her Majesty’s prisons, which spawned three volumes of highly acclaimedPrison Diaries. All of his novels and short story collections---including Kane and Abel, Sons of Fortune, and False Impression---have been international bestsellers. Archer is married with two children and lives in London and Cambridge.
Question: If you had $100 billion to give away, how would you spend it?
Jeffrey Archer: Well, at such a large sum of money, a 100 billion is such a large sum of money; that you would be very wise to take on board a team of highly professional and intelligent people to advise you. It would be foolish just to give it away without any though, you might say, “I want to do that,” and then find someone saying that frankly, “already got the money for that,” or, “what waste of money, because they would just blow it away, they will spend it.”
If you have that amount of money, you would have to be very, very cautious.
So, the first thing I would do is I would bring in a team of people, half of which would have had a vast amount of money themselves, never give money to people who have never touched it in their lives before, they will spend it in a few moments, bring around people who have had millions, they will be a damn slight more cautious, so half of my team would be millionaire who would built there own fortunes, the other half would be people, wise people who knew about real problems and where the money could be wisely spend.
Recorded on: March 15, 2008.
With such great wealth comes great responsibility to be cautious.
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