Munger advised giving wealth to children, even if it makes them less ambitious

David Senra recounted Charlie Munger’s advice on inheritance: when asked whether parents should give money to their children, Munger said they should, or the children might resent them. Asked whether that would make the children less ambitious, Munger reportedly replied that some of his children had a couple of hundred million dollars and were indeed less ambitious—“So what?” Senra said he appreciated the directness of the answer.