. >> warren buffett: right. >> rose: are people shocked by that? >> buffett: i don't think so. >> melinda gates: we're asking them to be bold. we're asking them to step out and to do something big. but a lot of them were already on their way there and just hadn't put a numeric number behind it. and i think now, also, the giving pledge has gotten going, people know that's the expectation. >> buffett: and we don't... we don't find a lot of people that say, "i want to join if it was 40%." ( laughter ) >> rose: some may say, "i'm happy to give much more than 50%." >> buffett: oh, most of them. most. my guess is that a very significant percentage of our... our members, i mean, way over half are going to give a lot >> rose: that's certainly true of the founders. the gates have already committed to giving 95% of their wealth away; warren buffett, 99%. they say that kind of extreme giving is needed because the rich have been getting so much richer. tech innovations and rising global markets have produced vast fortunes not seen since the industrial revoluti

in one corner is elon musk and in the other is warren buffett. this clash of the titans. we will meet chris cox and tell you why these facebook's secret weapon. gif,her you call it gif or how it's winning the internet. the latest issue of businessweek right here on bloomberg television. ♪ >> another great issue of bloomberg businessweek. a provocative question. maybe even a surviving -- surprising question. is the u.s. the new switzerland? it turns out there is a huge market for people putting their money in places like pierre, south dakota and reno, nevada. shannon is writing about really interesting phenomenon. walmart has come into communities and put mom-and-pop businesses out of business. now we are seeing walmart with its concerns of its own beginning to pull out as well. you were seen communities by guangxi profiles not having a mom-and-pop store and walmart and people driving 50 miles to go to a grocery store or pharmacy. let's get started. we begin with this week's cover story. a clash of the titans behind-the-scenes. solarle between elon musk company and a nevad

i mean, warren buffett when it comes to investing is a genius. the same thing can be said about ted turner for what he did but just because these people a superb in one area doesn't mean its wisdom and i think it's insane they are giving away their fortunes to these ngos and charities because i'm reasonably familiar with charities and the way they work and i see dissipate this capital that's been created and often times the money that is given to people to make bill gates and warren buffet and thousands of other people -- it's to make them feel good or help them compensate in their own mind. but it's hard earned money and sends them to the bottom of society. but most of the charities money goes to fund raising parties and paying back salaries. i think it's foolish. if warren buffett really wanted to help the people of the world can he would continue what he's doing forever, growing capital. because the way we all come wealthier and the way the world becomes wealthier is increasing the amount of capital in the world, not by giving it away. >> who

for personal purposes; that'sng you have to change the world to make it better. >> rose: but as warren buffett is finding out, not every way. >> buffett: i've gotten a lot of yeses when i've called people, but i've gotten a lot of nos, too.people with a billion dollars or more, i've been tempted to think that if they can't sign up for 50%, maybe i should write a book on how to get by on $500 million... ( laughter )ently, there's a lot of people that don't really know how to do it. >> whitaker: since our story first aired, another 26taling 141 people from 15 different giving pledge. our parents worked hard so that we could enjoy life's simple pleasures. i'm doing the same for my family. retirement and life insurance solutions fromelp you protect what you love and grow your future with confidence. pacific life.ons of families

really leveraging everything you have to change the world to make it better. >> rose: but as warren buffett is finding out, not every billionaire feels that way. >> buffett: i've gotten a lot of yeses when i've called people, but i've gotten a lot of nos, too. because i've been calling people with a billion dollars or more, i've been tempted to think that if they can't sign up for 50%, maybe i should write a book on how to get by on $500 million... ( laughter ) because, apparently, there's a lot of people that don't really know how to do it. first aired, another 26 billionaires, now totaling 141 people from 15 different countries, have signed the giving pledge. our parents worked hard so that we could enjoy life's simple pleasures. now it's our turn. i'm doing the same for my family. retirement and life insurance protect what you love and grow your future with confidence. pacific life. helping generations of families achieve long-term financial security for around here, a buckeye in your pocket is lucky. and as the newest member of the lucky buckeye company, it's my job to make sure that ev

in one corner, elon musk, in the other, warren buffett. we will tell you why he is facebook's secret weapon. in the quest for an alternative for the like button. whether you call it gift or get, how it is winning the internet. go that and more as we behind the scenes of the latest issue of businessweek right here on bloomberg television. another great issue of bloomberg businessweek. even a surprising question. in switzerland and the came and islands. it turns out there is a huge market for it in the u.s.. a great piece in the magazine. shannon from bloomberg news writing about an interesting is phenomenon. for such a long time, walmart has been coming into communities and putting mom-and-pop businesses out of business. now we are seeing walmart beginning to pull out as well, so we see businesses like the one she profiles as not having a walmart. people would have to drive up to 50 miles to get to the grocery store. let's get started. we begin with this week tossed cover story in a class of the titans, the battle between elon musk's solar

in one corner, elon musk, in the other, warren buffett. we will tell you why he is facebook's secret weapon. get,er you call it gift or how it is winning the internet. another great issue of bloomberg businessweek. jessie juncker asking a provocative question, is the u.s. the new switzerland? for so long, world store their money in switzerland and the cayman islands. now there are people putting their money in places like pierre, south dakota and reno, nevada. shannon and writing about an interesting phenomenon. for such a long time, walmart has been coming into communities and putting mom-and-pop businesses out of business. now we are seeing walmart beginning to pull out as well, so we see businesses like the one she profiles as not having a walmart. let's get started. we begin with this week tossed cover story in a class of the titans, the battle between elon musk's solar company and the devonte a company that happens to be owned by warren buffett. no up on joins us with the details. h: inc. you. david: talk about the incredible growth w

in the other, warren buffett. the details of this clash of the titans.ed chris coxe and taliban is facebook -- and tell you why he is facebook's secret weapon as an alternative to the like button. we will look at how gif is winning the internet. behind-the-scenes of bus inessweek right here on bloomberg television. ♪ >> another great issue of "bloomberg businessweek." asking a provocative question, may be surprising, is the u.s. the new switzerland? for so long the world's wealthy have stashed their money in switzerland and cayman islands, looking for confidentiality and secrecy. now there is a huge market for it in the u.s. people put it in places like reno, nevada. writing about a really interesting phenomenon. for such a long time, walmart has come into communities and put mom-and-pop businesses out of business. now we see walmart, because it ges,raged wages -- raises wa it is beginning to collect. -- beginning to pull out. people having to drive up to 50 miles to get to the grocery store or pharmacy. let's get started. this week's cover story, and a

we mentioned warren buffett. if you think it puts you in his class, think again.e is worth $67 billion. no lottery wins there either. brad bell, abc7 news. leon: hey, man. it takes money to take money! alison: he did it the old fashioned way. all right. so weather wise we are already talking about snow for tomorrow. doug: c'ya, january 11 and this is the first time we will see a snowshower. no accumulation. it's just a cold front. gusty breeze, rain shower and maybe snowshowers. we'll be back to sunshine by wednesday. get started here on monday evening with a live look across the city. beautiful tonight. clear. still, the title basin, it's calm. light winds. breezy through the day. put another day in the books. 41 and 28 is the high and low. 43 and 29 is the average for the date so technically and statistically a below average day. add them up. two, three, four, five, six seven days above average and four days below average. we will string together a couple more below average days here. it's not surprising either. the upper level winds have changed. a subtle and d

owned by warren buffett. hey noah. clash,we get into this set the scene for us.alk about the incredible growth we have seen in solar energy over the last decade. because of a been couple of reasons. first and foremost the cost of solar panels has come down dramatically over the past couple of decades. another big reason is that companies like solar city, the elon musk affiliated firm that has been mentioned. they have come up with innovative ways to help homeowners finance. they will come out, put panels usually, youand are saving enough on your utility bill that even after you pay solar city your monthly, overall power bill comes down. that has been a big reason for why solar has been booming. -- so, solar city has made roads here in nevada. they have a lot of people getting solar panels on their roofs. >> nevada wasn't one of their first states. they only set up shop in 2014. they need the right government incentives and they -- it took a while to get those in place in nevada. once they set up shop it went crazy. nevada is largely desert. it is a no-brainer. pe

i know we will talk about warren buffett in a moment. that is just sheer panic.om: i was going to step off the stage and tell them to sell. anytime the world minds up and it seems like it will just continue to draw a line and that curve,nd you're getting close -- just because oil went from 120 down, the next stop is 16. nature.st human we processed things that way. iscontinues until there disruption. even in china, i read as much as it sounds like they are wise to the part i just read of china which is both restrictions on gambling and all of the associated activities -- >> the restrictions on luxury, the consumer, yes. >> they have the best start to the year i read on bloomberg. just when it could not get worse, shoots of the next turn. adopt is you have to as a value investor, you might make money over time but you cannot make money on time. it you cannot deliver tomorrow afternoon. it will happen over time. you end on the companies you invested to reinvest productively overtime. of reinvesting. your returns will follow. i am told 70% of your portfolio is in gl

warren buffett as i told you, paid 6/100ths of his income in taxes. you guys are finally get it. when you see a group of people hanging with obama don't think it's street people trying to describe what it's like being poor, but people trying to get favors. they have been very, very successful with obama believe me when i tell you. >> i like having you here whether you agree with me or not but let's say this, this flat tax system, or some variety of it, let's say somebody earns $20,000 a year, do we still think they should be paying x percentage of their income in that? they're going to be a net recipient of government benefits. >> of course they should be. they should be taxed the same rate. if you want to help them write them a check. tax rate, spending tells people what to do. don't try to include positive incentives in a negative system. what about people who aren't on the codes there, let's say families with kids and you get someone who doesn't file tax return? why should you do a tax treatment for children where you don't hit everyone who has children? >> you're saying tax t

the with senator reid who knows conversations with warren buffett and maybe paul coddle at nvenergy i don't know but knowing senator reid at least a a little bit i wouldn't be surprised if he wasn't involved in some way in some way behind the scenes. >> let's talk about jobs. there have already been hundreds and hundreds of jobs lost in the solar roof industry. these were not bluffs. they basically shut down the companies operating in nevada. what are your thoughts about that? is there a chance for that business to come back in some form, do you think? >> i think there is. it depends on what happens with the petition that was filed by some solar groups yesterday. they filed a referendum petition to take to the voters in november saying we would like to restore net metering to the condition it was in before the legislature acted, which basically resulted in the new rates that we have now that they say are just not viable for their business. so rural -- not rural -- small nevada companies that have shut down and laid off people. big companies that are nationwide that sold systems and st

johnathan: i find it very interesting than the likes of warren buffett say i should pay more tax. treasury would accept that. stephanie: mr. buffett, you are welcome to send a check. mr. bill clinton joins the campaign trail today in new hampshire. when we come back, we will dig a bit more into warren buffett. stick around. ♪ jonathan: good morning, and welcome back to bloomberg . ftse futures, the ftse getting absolutely slammed this morning. -20 points. -32 points, and ugly session. what a way to start 2016. stephanie: if you think about the weeks we are coming off of, there was little to no trading activity. people like to go big and goal on the market. there is continued uncertainty today. starting a year with uncertainty is not good. stephanie: they saw the chinese stock market -- david: they saw the chinese stock market down 7% and saw a real conflict between iran and saudi arabia. stephanie: it is not like the news out of china is that big or that different. this is just a market with so little conviction. breaking news, and matt miller is jumping up and down. matt: gm h

so he's new york's warren buffett.eirdre: as far as next step forward, you know this system so he well, and it seems that they're trying to have a one foot in capitalist system. it's not going to work, is it. >> it's not going to work, especially the chinese leader has now believes he's in a strong state. and that means liberal reform as we know it is not something that he likes because he wants the communist party to control things. you can't do that and have a functions stock market and as we've seen since the july they don't have a functioning stock market anymore. so this is going to be a problem for them going forward, and we're going to have crisis after crisis. deirdre: so china's government is saying market speculators are causing these free falls in the market. they are causing it to fall this far this fast. is there any validity to that at all? >> not really. really what's happening is china's growth model is exhausted. people can see it. the currency is way overvalued. people want to leave -- money is coming

warren buffett's not panicking. warren buffett's thinking about what he's going it buy.e's not thinking about what he's going to sell. >> watching the market from poolside in naples, florida is a lot nicer, isn't it, than watching the market from the pits down there. as we go into a long weekend, kenny, i'm not going to ask you what you think is going to happen on monday, but it is a time that people typically don't want to go in long on a holiday weekend. >> which is exactly why even more so as the day kind of wore on you felt that heaveness. why would you want to go in? why would you step in front of this train at the moment knowing that monday we're closed, the rest of the world is open, a lot it happen in china, a lot can happen in europe, and so therefore it will just create some anxiety, right? as it is, i think next week as dominic pointed out there's a lot of macro data on the calendar, a lot of earnings on the calendar, a lot of reasons why you might get some more volatility. >> now, michael, if indeed we see a sell-off in other parts of the globe on monday, we'

there is irony in that because publicly, warren buffett is known as an amazing stock ticker and thosee real blemishes in his portfolio last year. betty: all right, thank you so much. noah buhayar. hard to be a buffett fan in 2016. let's head to our markets desk. julie hyman has a check on the markets. bowles not doing so well. julie: a few stocks trading higher. the s&p has been bouncing around the lows and making lower lows as the session goes on. it makes an attempt to go a little bit higher and goes lower. that has been happening throughout the session, young as the session is. there are some stocks doing better today and i want to point that out. is rallying. wells fargo called it one of its top retail picks for the year. incidentally, the shares were down around 5% last year, so, recovering that in the first day of trading. gopro is another one of the underperformers from last year. fallen 75% since its ipo and it's even mentioned negatively over the weekend, saying that the stock would fall. nevertheless, we see that 2% rotation, not just from the good performance from last year

coming up next, warren buffett has not bought back berkshire hathaway shares since 2012.k swap influence him to buy back more? amazon feeling pressure from star board, calling for significant changes that the company. is this a proxy fight in the making? on medicalver while leave. we will explain if this is good for investors. ♪ scarlet: you're watching bloomberg. this is your global business report. competition in virtual reality is heating up. how is sony using one of its top-selling products to get in the game. we will hear from the ceo. monsanto posting a smaller than expected loss. we will dig into those numbers. in the u k, one department store reporting cheery holiday sales. how on land sales helped save christmas at john lewis. first, let us start with comments from sony's ceo speaking to bloomberg at the consumer electronics show in las vegas. he given how look on how the virtual reality experience. vr is theation th virtual reality expense we will bring to consumers this year. it will ship later this year. the most important content is the game content. just to

is warren buffett is joining a popular tv show? stay with us.. we will be back in two lukas: a patent application published today (thursday) reveals the social media giant may get into ride sharing. the idea is an expansion of facebook's event feature. the feature would help users share vehicles or find a travel buddy to get to events. it could also connect with someone you can travel with on public transit, like the subway. facebook's patent has yet to be approved. the news comes weeks after facebook announced a partnership with uber to allow users to book cars from facebook's messenger app. lukas: the nation's oldest undergraduate drama troupe has picked actress kerry washington as its "woman of the year." harvard university's hasty pudding theatricals honored the "scandal" star after a parade through harvard square yesterday. the honor included the traditional roast and the presentation of a gold pudding pot. the group said it picked washington because of her extraordinary acting, social engagment all while breaking racial barriers in (kerry w

warren buffett owns the traditional utility, nv be energy. and his cousins pounded solar city, which allows homeowners to lease panels that the but on their roots. last year we saw a legislative fight in nevada and then a hearing in front of the utilities commission that basically rewrote the rules on who it costs for homeowners want to put solar panels on the roof and connect to the grid. essentially, solar city was getting special treatment. areolks who are going solar getting a subsidy, that they were not paying their fair share for the upkeep of the grid. regulators cannot with a ruling that largely agreed with that position. as a result, solar city and other companies have said they are going to stop business in the state. david: what does this mean for folks who are using solar city, they are sitting there with the technology and it's not doing anything? from is still generating the sun, but the economics of the arrangement have changed. this is still an ongoing process. one of the radical things that regulators said is that everyone ha

another company reporting earnings after the bell, warren buffett favorite, ibm.ftware giant has reported 15 straight quarters of zero sales growth. can the ceo turnaround ibm? we will find out more after the bell. ♪ betty: good afternoon, and welcome back to "bloomberg markets." i am betty liu. markets are pretty much mixed. we have come back from the lows of the session to almost flat here -- excuse me, a little bit higher on the s&p. almost flat on the nasdaq. for the dow, up 43 points. time for the business stories -- biggest business stories in the news. the former goldman sachs director is a free man after 19 months of incarceration. the u.s. bureau of prisons confirming his really, says he is free after good behavior. a person familiar with the matter is that he was released two weeks ago and has been living at his manhattan home. he was jailed for leaking tips to raj rajaratnam. a former university of nebraska star is becoming a director of a company with the blessing of college's most famous fans -- yes, it is warren buffett. he says it is a great respons

what he did connect in a couple of reports over the past several sessions warren buffett was buying into pf x., phillips 66. he left the company. here's a guy is not afraid to go in and buy even when volatility is the strongest that we have the ps sex at the moment. it doesn't matter that he assets are huge portfolio lost billions over the last couple of sessions, he was still in probably buying. david: if i had 40 billion eye with a probably be buying two. liz thank you very much, have a great weekend. >> thank you, you too. >> since september the constitution hasn't changed. but the poll numbers have. >> you have a big lawsuit over your head. why are you running and if you become the nominee who the hell those of you can even serve in office? >> i hate to interrupt this episode i saw you on the senate floor flip your vote on crop insurance because they told you in iowa and last week we saw you flip on the vote for ethanol in iowa. that is not conservatism. as political calculation. >> i appreciate you dumping your research folder on the record. >> this is the difference between de

warren buffett said 80% of his working day is dedicated to reading. >> in fact, the author of "how rich people think," he interviewed 1200 rich people you get a cold. you can't breathe through your nose. suddenly, you're a mouthbreather. a mouthbreather! how can anyone sleep like that? well, just put on a breathe right strip and pow! it instantly opens your nose up to 38% more than cold medicine alone. so you can breathe and sleep. shut your mouth and say goodnight mouthbreathers. breathe right and my fico credit score's on here. yeah! we give you your fico credit score. for free! awesomesauce! the only person i know that says that is... julie? we've already given more than 175 million free fico credit scores to our cardmembers. apply today at discover.com eat up, buddy. you'll get it this time. ok not too quick don't let go until i say so. i got you... start strong with the lasting energy of 100% you're doing it! whole grain quaker oats. and off you go. north korea claims it has tested a hydrogen bomb. there is no confirmation from the u-n or other countries. the u-s is keeping a close

warren buffett said 80% of his working day is dedicated to read zblg author of how rich people people over three decades all of them to educate themselves. >> does reading prompter count that's "america's money." >> vet a great day. you get a cold. you can't breathe through your nose. suddenly, you're a mouthbreather. a mouthbreather! how can anyone sleep like that? well, just put on a breathe right strip and pow! it instantly opens your nose up to 38% more than cold medicine alone. so you can breathe and sleep. shut your mouth and say goodnight mouthbreathers. breathe right discover card hey! so i'm looking at my bill and my fico credit score's on here. yeah! we give you your fico credit score. for free! awesomesauce! the only person i know that says that is... lisa? julie? we've already given more than 175 million free fico credit scores to our cardmembers. apply today at discover.com yeah ok not too quick don't let go until i say so. i got you... start strong with the lasting energy of 100% from the 9-1-1 call that saved a man's life. disaster struck in missouri when rivers flooded

:08 "the reality is, if you won that much money, you're no different that...you know i'm sure warren buffett has security around him, or a famous actor." the winner shovld have some things in place to protect themselves and that ckpot. stay with tv9. one and a half billion dollars. and the jackpot could grow even more before tomorrow's drawing if strong sales continue. but one financial expert says think twice before buying a ticket. he says winning that big of a jackpot will change your life for better and for worse. no matter how large the lottery jackpot gets the odds of winning are one in over 292 million. the winner could get annual 29 years. or could choose a lump-sum of at least 930 million dollars before taxes. kcrg t-v nine's brady smith looked into the pros and cons of winning a monster jackpot. powerball ticket machines like this one at hawkeye convenience have been hot. bob huber of solon bought five, and knows how he'd start spending the winnings. 15:10-:13 "pay off the mortgage first probably."15:18-:21 "new truck, nice vacation, probably go to australia or something." but jeff

people would argue that that is not fair because if you take away-- if you say the tax is 25%, warren buffett losing 25% of his money is not as impactful on him as a person who earns minimum wage losing 25% of his money. >> can we change the rules and every time we say warren butt ef-- buffett we have to drink. >> trevor: we can do that. i won't say it again. >> no, i think that right now there are many wealthy people in our country who pay no taxes. there are many wealthy corporations who pay no taxes. if you had a 14.5% rate, some people would pay more. but i want a government smaller. see i quait the bigger the government is, the more freedom you have to give up. so i want a smaller government so people are left alone and are more free. >> trevor: people left alone to do what? >> whatever the hell they want to do. i want people to be left alone. i don't want the government telg you what you can smoke, what you can drink or what you can read. >> trevor: i think now that you mentioned it, drugs is up there. that's nice. >> i thought my agent said we would not talk about president. >> trevor:

. >>> 2015 was also a bad year for warren buffett, he lost $11 billion. shares of his company slid 11%. but he's still the world's third richest man, his personal fortune is estimated at $63 billion. >>> and you may be feeling a little bit richer this morning after a year of low gas prices. 2015 ended with the national average price at exactly $2. aaa estimates each licensed driver saved almost $600 over the past year and the outlook is good for 2016. >>> and a milestone the world's largest mcdonald's has served its last big mac. located on international drive in orlando, the iconic structure was built to look like a giants box of fries. who eat at that restaurant it's being replaced with an even bigger mcdonald's being built right next door. it's set to open in february with plenty of room. 19,000 square feet. >>> when we come back -- a new legal battle stemming from the charges facing bill cosby. >>> and hold those tigers, ox okay couldn't. clemson will play for the top prize. college sports is coming up next. coughing...sniffling... and wishing you cou