So another great fortune is going to just causes. The BBC reported today that Microsoft co-founder Paul Allen has said he will commit the majority of his estimated $13.5bn (£8.8bn) fortune to philanthropy after his death. He already is heavily involved in philanthropy having set-up a charitable foundation 20 years ago that has given $400m. He has personally donated a further $600m.

He has taken heed of the call by Mr Gates and fellow billionaire Warren Buffett when they urged America's richest individuals recently to pledge half of their fortunes to charity. Although some of Ireland's wealthy are planning similar deeds, there are plenty here with wealth who should take heed of this.