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Switch to Forum Live View Billionaires pledge to donate fortunes to charity
4 years ago  ::  Aug 05, 2010 - 4:02PM #1
Jeanninehunter
Posts: 168

More than three dozen billionaires representing some of America's wealthiest individuals and families pledged to donate half their wealth to charity. They joined Microsoft Corp. co-founder Bill Gates and billionaire investor, who are America's two wealthiest individuals, with a combined net worth of $90 billion, according to Forbes, MSNBC reported. 


Thirty eight other billionaires who signed The Giving Pledge "include New York Mayor Michael Bloomberg, entertainment executive Barry Diller, Oracle co-founder Larry Ellison, energy tycoon T. Boone Pickens, media mogul Ted Turner, David Rockefeller, film director George Lucas and investor Ronald Perelman," according to MSNBC.


Gates and Buffett estimated that the Giving Pledge could yield $600 billion for charities.

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4 years ago  ::  Aug 05, 2010 - 4:59PM #2
Weepingangelofthetrees
Posts: 2,053

I'd be more than happy to send them a post card with my name and address on it. Wink


"Remember, Jesus would rather constantly shame gays than let orphans have a family."
Stephen Colbert
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4 years ago  ::  Aug 05, 2010 - 5:02PM #3
Erey
Posts: 17,351

I hope they choose their charities well.  Organizations that will use the funds responsibly and in a substainable manner. 

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4 years ago  ::  Aug 05, 2010 - 5:52PM #4
solfeggio
Posts: 8,528

Where billionaires giving away money is concerned, I'll believe that when I actually see it happening. 


However, assuming that this does come to pass, I'd be very interested in knowing just which charities will receive the largesse, and how much they will receive.


 

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4 years ago  ::  Aug 05, 2010 - 5:55PM #5
Iwantamotto
Posts: 7,785

Aug 5, 2010 -- 4:59PM, Weepingangelofthetrees wrote:

I'd be more than happy to send them a post card with my name and address on it.




LOL, yeah, there's no greater charity than the "Me Charity".

Knock and the door shall open.  It's not my fault if you don't like the decor.
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4 years ago  ::  Aug 05, 2010 - 6:17PM #6
solfeggio
Posts: 8,528

You know, if you come right down to it, I'll bet that if all those billionaires got together and pooled their considerable resources, they could probably send a check to every needy family in the U.S.


They could set up some sort of central clearing-house from which would be distributed application forms that would go out to all the people on welfare.  Families would be given the form, and they would have to provide some sort of proof that the breadwinner was out of work and they were going to lose their house, or that they were homeless and living a car, or other dire situation.  Families with kids would be given priority.


Nobody should have to live on the street. 


 


 

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4 years ago  ::  Aug 06, 2010 - 9:21AM #7
TemplarS
Posts: 6,250

Aug 5, 2010 -- 5:52PM, solfeggio wrote:


Where billionaires giving away money is concerned, I'll believe that when I actually see it happening. 






Well, in fact, many billionaires do give substantial sums of money already.  Well, why not, they can certainly afford it.  It's not like this will impoverish them.


One caveat in the present case, however, is that some of this giving is not going to be immediate.  It will  be in the form of estate distributions upon death. 


The point is, for one person, or even a family, I can't even conceive of what a person could do with a billion dollars.


Let's see, a $25 million yacht, a $15 million plane, figure a half dozen $10 million homes- what do they do with the other $900 million?


 


 

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4 years ago  ::  Aug 06, 2010 - 9:29AM #8
Cesmom
Posts: 4,252

Aug 5, 2010 -- 5:52PM, solfeggio wrote:


Where billionaires giving away money is concerned, I'll believe that when I actually see it happening. 


However, assuming that this does come to pass, I'd be very interested in knowing just which charities will receive the largesse, and how much they will receive.


 





Warren Buffett has always had plans to contribute a great deal of his fortune to charity, and Gates has done a lot of work in this arena.  They appear to be working to get other extremely wealthy folks to jump on the bandwagon.


Mr. Buffett plans to give away 85 percent of his fortune, or about $37.4 billion, all in Berkshire stock. Of that amount, he will channel the greatest share, about $31 billion, into the Gates Foundation. The Gates Foundation, dedicated to improving health and education, especially in poor nations, is already the United States' largest grant-making foundation, with current assets of almost $30 billion. Mr. Buffett's huge contribution may permanently solidify that philanthropy's standing as the biggest and most influential organization of its kind. Mr. Buffett will join Mr. and Mrs. Gates as a trustee of their foundation.


www.nytimes.com/2006/06/26/business/26bu...


The other charities that Mr. Buffett will divide about $6 billion in stock among are the Susan Thompson Buffett Foundation, which is named after Mr. Buffett's wife and emphasizes family planning, abortion rights and anti-nuclear proliferation issues; the Howard G. Buffett Foundation, which is named after and run by one of Mr. Buffett's two sons and focuses on environmental and conservation issues; the Susan A. Buffett Foundation, which is named after and run by Mr. Buffett's daughter and supports educational opportunities for low-income children; and the NoVo Foundation, which is run by Mr. Buffett's other son, Peter Buffett, and has focused on education and human rights.

Our need to learn should always outweigh our need to be right

It is the mark of an educated mind to be able to entertain a thought without accepting it.

More people would learn from their mistakes if they weren't so busy denying them.
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4 years ago  ::  Aug 06, 2010 - 9:32AM #9
Cesmom
Posts: 4,252

Aug 6, 2010 -- 9:21AM, TemplarS wrote:


The point is, for one person, or even a family, I can't even conceive of what a person could do with a billion dollars.


Let's see, a $25 million yacht, a $15 million plane, figure a half dozen $10 million homes- what do they do with the other $900 million?





Well, there are a lot of stories of people broke after winning the lottery because they thought the same thing.  Once they had the $25 million yacht and all those homes, etc, they underestimated how much it would cost to continue having those things...paying taxes on it, maintenance, insurance, etc.  But, you're right, billions of dollars is a ridiculous amount of money.

Our need to learn should always outweigh our need to be right

It is the mark of an educated mind to be able to entertain a thought without accepting it.

More people would learn from their mistakes if they weren't so busy denying them.
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4 years ago  ::  Aug 06, 2010 - 10:36AM #10
Hatman
Posts: 9,634

i, too, would be MOST interested in the list of "qualified recipients" of such largess, directly due to cites like these:


"We operate here under directives which emulate from the White House... The substance of the directives under which we operate is that we shall use our grant making power to alter life in the United States such that we can comfortably be merged with the Soviet  Union."
-- Rowan Gaither, President of the Ford Foundation, 1954
Source: stated to Congressional Reese Commission investigator Norman Dodd


 “[The task is to] covertly lower the standard of living, the whole social structure, of America so that we can be merged with all other nations.”


~ Rowan Gaither[Horace Rowan Gaither, Jr.] (1909-1961) Attorney, investment banker, President of the Ford Foundation (1953-1956)


Date: 1954


Source: stated to Congressional Reese Commission investigator Norman Dodd


"It is also true that this group, from its control of funds, academic recommendations, and research or publication opportunities, could favor persons who accepted the established consensus and could injure, financially or in professional advancement, persons who did not accept it. It is also true that the established group, by its influence on book reviewing in The New York Times, the Herald Tribune, the Saturday Review, a few magazines, including the liberal weeklies, and in the professional journals, could advance or hamper any specialist's career. It is also true that these things were done in the United States in regard to the Far East by the Institute of Pacific Relations, that this organization had been infiltrated by Communists, and by Communist sympathizers, and that much of this group's influence arose from its access to - and control over - the flow of funds from foundations to scholarly activities."


~Carroll Quigley(1910-1977) Professor of History at Georgetown University, member of the Council on Foreign Relations (CFR),mentor to Bill Clinton
Source: stated in his book "Tragedy & Hope", 1966


"The best way to put more money in people's wallets is to leave it there in the first place."
-- Edwin Feulner(1941- ) Founder and President of the Heritage Foundation


“If there’s one thing the American experiment proves, it’s the power of freedom to transform lives. If you let people control their own destinies, there’s no limit to what they can achieve. But if you bind them with the straitjacket of central planning, smother their creativity with over-regulation, fence them in with high tariffs and take their hard-earned money with high taxes, you kill their dreams even as you wreck an economy. That’s the central lesson of the ‘2008 Index of Economic Freedom,’ just released by The Heritage Foundation and The Wall Street Journal. A country-by-country survey of how free people are worldwide to direct their own economic fortunes, the Index repeatedly demonstrates the vital link between freedom and prosperity. Simply put, the freer people are, the more an economy grows—and the more everyone benefits... Economic freedom is about more than just the bottom line. When you give people the liberty they crave, you do more than boost an economy—you make it possible for men and women to improve their lives. In the words of the Declaration of Independence, they’re free to engage in ‘the pursuit of happiness.’ And as the Index proves, it’s a virtuous cycle that leaves everyone better off than they were before.”


Rebecca Hagelin


"There is a de facto “secret government” operating nationally and internationally and involved in the highest circles of the U.S. government, exercising an impact over domestic policies and economics ranging between extreme influence to, at times, outright control. This extreme influence to outright control naturally includes the Presidency. The de facto “secret government,” much of whose intellectual—and financial—muscle are to be found in the New York office of the CFR, the great tax-free foundations, and certain international firms and corporations."
-- Mike Culbert
Source: in Independent-Gazette (Richmond, California, 27 June 1974), in reference to his discussions with Charles Colson (a member of Nixon’s cabinet) on the almost total control of U.S. presidents by the outside forces.


“Although large corporations have created many enjoyable products and services, there are numerous costs associated with them that are rarely analyzed in the mainstream media. Corporations now control much of the world's resources, technology, money, and power. Of the 100 largest economies in the world, 51 of them are not nations, but corporations. The top 200 corporations have combined sales of over 7 trillion dollars—greater than the combined Gross National Product of all but nine of the largest nations and more than the combined economies of 182 nations. They account for 28 percent of the world's Gross Domestic Product, yet, they only employ a tiny fraction of the world's population—less than one-third of one percent.1”


1Sarah Anderson & John Cavanagh, Top 200: The Rise of Global Corporate Power (Washington, DC: Institute for Policy Studies, 1996), 1 July 2000 www.corpwatch.org/trac/corner/glob/ips/top200.html and David C. Korten, The Post-Corporate World (San Francisco: Berrett-Koehler Publishers, West Hartford, CT: Kumarian Press, 1999) p. 42.


~William C. Gladish, USAF pilot(ret), MS Aeronautical Sciences, founder of Critical Decision Foundation www.acriticaldecision.org/links/about-th...


"The Council on Foreign Relations, another member of the international complex, financed by the Rockefeller and Carnegie Foundations, overwhelmingly propagandizes the globalist concept. This organization became virtually an agency of the government when World War II broke out. The Rockefeller Foundation had started and financed certain studies known as the War and Peace Studies, manned largely by associates of the Council; the State Department, in due course, took these studies over, retaining the major personnel which the Council on Foreign Relations had supplied."
-- Rene A. Wormser, Chief Counsel to the Reece Committee, which investigated the power and influence of Tax Exempt Foundations during the 1950’s
Source: Foundations: Their Power and Influence (1958)


And i have one other opinion piece that's a worthwhile read, but i'll put it on it's own post.


With goodwill to all the People-


Hatman


 

"History records that the moneychangers have used every form of abuse, deceit, intrigue, and violent means possible to maintain their control over governments by controlling money and it's issuance."
-- James Madison(1751-1836), Father of the Constitution for the USA, 4th US President
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