Billionaire Buffett to give away his wealth

know1

http://www.marketwatch.com/News/Story/Story.aspx?dist=newsfinder&siteid=google&guid=%7B677259D4-F475-4F3F-AF43-EC09D3EF319F%7D&keyword=

And I'm sure that the money will be utilized much better than the way our government does. This is what I'm talking about when I say that we would be better off if most social programs were handled privately through charity and donations.

farfromglorified

Cool stuff.

chopitdown

it's cool that he's doing it but isn't it funny that the Bill Gates foundation is getting most of it...one billionaire giving help to another billionaire's foundation (which does a lot of good and is a great thing and I'm glad they're getting the money rather than the gov't).

jeffbr

chopitdown wrote:

it's cool that he's doing it but isn't it funny that the Bill Gates foundation is getting most of it...one billionaire giving help to another billionaire's foundation (which does a lot of good and is a great thing and I'm glad they're getting the money rather than the gov't).

I don't find it funny at all. It makes perfect sense. The Gates foundation is one of the most efficient charitable foundations out there in terms of dollars that make it to the actual recipients. It is also of large enough scale that real change can happen. Plus, Buffet and Gates are friends. Add to that the fact that Gates is leaving Microsoft in a couple of years to devote himself to full-time work with the foundation, and it looks like Buffet couldn't have made a better decision.

farfromglorified

jeffbr wrote:

I don't find it funny at all. It makes perfect sense. The Gates foundation is one of the most efficient charitable foundations out there in terms of dollars that make it to the actual recipients. It is also of large enough scale that real change can happen. Plus, Buffet and Gates are friends. Add to that the fact that Gates is leaving Microsoft in a couple of years to devote himself to full-time work with the foundation, and it looks like Buffet couldn't have made a better decision.

I think the better decision would have been to give $40 billion to one person....one person with the power to change the world with his mind. I don't think Bill Gates is that person now, though he once was. That said, I don't know if that person exists.

Milhouse VanHouten

I can't stand his song "Margaritaville".

Uncle Leo

All board politics aside. Good for him. Very commendable.

chopitdown

jeffbr wrote:

I don't find it funny at all. It makes perfect sense. The Gates foundation is one of the most efficient charitable foundations out there in terms of dollars that make it to the actual recipients. It is also of large enough scale that real change can happen. Plus, Buffet and Gates are friends. Add to that the fact that Gates is leaving Microsoft in a couple of years to devote himself to full-time work with the foundation, and it looks like Buffet couldn't have made a better decision.

i wasn't trying to say that it was "ha ha" funny. But when you see the title Billionaire Buffet to give away his wealth and he is giving it to the foundation of one of the richest men in the world, i'm sorry but it's funny. I never questioned the decision and I think it's a great one...sorry if you didn't get that from my post.

killroy

This is really great stuff. I wish all the best to the people who choose to directly influence the problems the world faces today. I mean, it's 37 billion dollars!?!
I can't even imagine how much money that really is.

One question, though. If I remember correctly, didn't Eddie used to bash Bill Gates, playing "Soon Forget" for him or something at some point? If it's true, this is one thing where I completely disagree. Whatever the reasons Gates runs the charity foundation, and it seems genuine, it's good that such large amount of money goes to the ones who really need it.

know1

chopitdown wrote:

i wasn't trying to say that it was "ha ha" funny. But when you see the title Billionaire Buffet to give away his wealth and he is giving it to the foundation of one of the richest men in the world, i'm sorry but it's funny. I never questioned the decision and I think it's a great one...sorry if you didn't get that from my post.

There's a reason they became some of the richest men. They're smart and very business-savvy. Who better to run a charity???

chopitdown

killroy wrote:

This is really great stuff. I wish all the best to the people who choose to directly influence the problems the world faces today. I mean, it's 37 billion dollars!?!
I can't even imagine how much money that really is.

if you gave away 100,00 dollars each and every day it would take you 1013 years to give away 37 billion dollars... it's a lot of money

chopitdown

know1 wrote:

There's a reason they became some of the richest men. They're smart and very business-savvy. Who better to run a charity???

exactly and they are opportunistic and with that kind of funding they should do VERY well with their charity work

fife

i think that this is great and i hope that the money goes to the people who really need it. i have to give credit when credit is due and wow does Gates, Bono and Buffett deserve credit.

killroy

chopitdown wrote:

if you gave away 100,00 dollars each and every day it would take you 1013 years to give away 37 billion dollars... it's a lot of money

LOL!!!

I guess I'll have to find three more extra jobs and find a way to beat death. But... I can do it!

know1

"Buffett said there had never really been a question of whether he would give his money away, saying, "I'm not an enthusiast for dynastic wealth, especially when the alternative is six billion people much poorer (than we are) having a chance to benefit from the money.""

farfromglorified

know1 wrote:

"Buffett said there had never really been a question of whether he would give his money away, saying, "I'm not an enthusiast for dynastic wealth, especially when the alternative is six billion people much poorer (than we are) having a chance to benefit from the money.""

It's kind of mind-boggling to think about the fact that this guy could cut a check for $7 to every person in the world.

I hope Buffet and the Gates foundation understand what it takes to cash a check, however.

keeponrockin

I think its a great idea.

Abuskedti

know1 wrote:

http://www.marketwatch.com/News/Story/Story.aspx?dist=newsfinder&siteid=google&guid=%7B677259D4-F475-4F3F-AF43-EC09D3EF319F%7D&keyword=

And I'm sure that the money will be utilized much better than the way our government does. This is what I'm talking about when I say that we would be better off if most social programs were handled privately through charity and donations.

How can you be so sure?

and though it may be true - if it is, its just another indication of where we are headed.

farfromglorified

Abuskedti wrote:

if it is, its just another indication of where we are headed.

We're already there kiddo.

SundaySilence

Without the estate tax (which Buffett supports) less would leave their estates to charity.

farfromglorified

SundaySilence wrote:

Without the estate tax (which Buffett supports) less would leave their estates to charity.

Without the estate tax, many would leave more leave more to charity.