Money 40 billionaires pledge to give away half of wealth - Page 4

|Zach| · 08-04-2010, 12:31 PM

Gates, Buffett lead campaign to persuade America's wealthiest to donate their fortunes

little over a year after Bill Gates and Warren Buffett began hatching a plan over dinner to persuade America's wealthiest people to give most of their fortunes to charity, more than three-dozen individuals and families have agreed to take part, campaign organizers announced Wednesday.

In addition to Buffett and Gates — America's two wealthiest individuals, with a combined net worth of $90 billion, according to Forbes — 38 other billionaires have signed The Giving Pledge. They 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.

"We're off to a terrific start," Buffett, co-founder and chairman and CEO of Berkshire Hathaway, said in a conference call also attended by Bloomberg and San Francisco hedge-fund manager Tom Steyer and his wife Kat Taylor, founder of OneCalifornia Bank.

Buffett said he and Gates, the Microsoft co-founder, and Gates' wife Melinda made calls to fellow billionaires on the Forbes 400 list of wealthiest Americans — in many cases, people they had never met — to try to persuade them to join the giving pledge.

"We contacted between 70 and 80 people to get the 40. A few were unavailable. We don’t give up on them. Every saint has a past, every sinner has a future. We’ll keep on working," Buffett said.

Bloomberg, who made the bulk of his estimated $17.5 billion fortune from financial news and information services company Bloomberg L.P., said it didn't make sense to leave everything to his children and have them go through life as members of "the lucky sperm club."

"You don’t want to leave them so much money that it ruins their lives," Bloomberg said. "You want kids who can look back and say, 'Yeah my family helped me but I did something on my own.'
"
Added Steyer: "We need to support each other. I look at this as replanting your garden so that future generations will have a full bounty of crops."
The United States has roughly 400 billionaires — about 40 percent of the world's total — with a combined net worth of $1.2 trillion, according to Forbes. If they all took the pledge, that would amount to at least $600 billion for charity.

The 40 names that have pledged to date have a combined net worth surpassing $230 billion, according to Forbes. Several of them have said they plan to give away much more than 50 percent of their wealth. Buffett has promised to donate more than 99 percent of his wealth.

http://www.msnbc.msn.com/id/38556042/ns/us_news-giving/

LaChapelle · 08-04-2010, 04:59 PM

Is it the old money that's not letting go
I could understand that

vailpass · 08-04-2010, 05:05 PM

Quote:

Originally Posted by LaChapelle

Is it the old money that's not letting go
I could understand that

Yep. That's how it got old.

BIG_DADDY · 08-04-2010, 05:39 PM

With that kind of money Gates can vaccinate the world

boogblaster · 08-04-2010, 05:49 PM

its some kind of tax shelter

**Rausch** · 08-04-2010, 05:51 PM

Quote:

Originally Posted by Adept Havelock

Nice, every idea comes around again. Jonathan Swift would be so pleased.

http://art-bin.com/art/omodest.html

Quote:

”I have been assured by a very knowing American of my acquaintance in London, that a young healthy Colorado child well nursed is at a year old a most delicious, nourishing, and wholesome food, whether stewed, roasted, baked, or boiled ...”

InChiefsHeaven · 08-04-2010, 07:11 PM

The hatred for the rich and successful always puzzles me. They make a shit load of money (and also create a lot of prosperity for others while they are making a shit load of money) and that's evil. Then they make a huge gesture to give a huge percentage of it away to charity, and that's evil.

America. Who knew?

Bearcat2005 · 08-04-2010, 07:23 PM

Quote:

Originally Posted by Marcus_Halberstram

We have to provide food and shelter for the homeless, and oppose racial discrimination and promote civil rights, while also promoting equal rights for women. We have to encourage a return to traditional moral values. Most importantly, we have to promote general social concern and less materialism in young people.

What about Sri Lanka?

BigChiefFan · 08-04-2010, 10:50 PM

"Every saint has a past, every sinner has a future. We’ll keep on working," Buffett said.

That's a weird ass quote.

BIG_DADDY · 08-04-2010, 10:55 PM

Quote:

Originally Posted by InChiefsHell

The hatred for the rich and successful always puzzles me. They make a shit load of money (and also create a lot of prosperity for others while they are making a shit load of money) and that's evil. Then they make a huge gesture to give a huge percentage of it away to charity, and that's evil.

America. Who knew?

That's a very vague statement. Who hates all rich people? If you could be specific it would help.

HoneyBadger · 08-04-2010, 11:12 PM

Quote:

Originally Posted by Detoxing

Guess it's time for me to start a charity. Hrmm....maybe a Charity to help all the reeruns on ChiefsPlanet? What should I name it though?

C.P.R.=ChiefsPlanet reeruns.

BIG_DADDY · 08-04-2010, 11:20 PM

Quote:

Originally Posted by BigChiefFan

"Every saint has a past, every sinner has a future. We’ll keep on working," Buffett said.

That's a weird ass quote.

Great quote. What I get from that is irregardless of where an individual is on the path we need to all need to keep working from that point to advance. I could elaborate if I thought anyone cared to hear it.

googlegoogle · 08-05-2010, 01:52 AM

which charities?

InChiefsHeaven · 08-05-2010, 05:35 AM

Quote:

Originally Posted by BIG_DADDY

That's a very vague statement. Who hates all rich people? If you could be specific it would help.

OK, hate is a strong word. I guess the cynicism is what gets me. Just read the thread, there are a few posts full of cynicism, and some outright vitriol towards rich people simply because they are rich people. Like that makes them evil and untrustworthy, that their motives are all driven by money and greed etc.

It was just a passing comment is all.

RJ · 08-05-2010, 08:27 AM

That is very kind and generous of those 40 people and families. Kudos to them.

BIG_DADDY · 08-05-2010, 09:02 AM

Quote:

Originally Posted by InChiefsHell

OK, hate is a strong word. I guess the cynicism is what gets me. Just read the thread, there are a few posts full of cynicism, and some outright vitriol towards rich people simply because they are rich people. Like that makes them evil and untrustworthy, that their motives are all driven by money and greed etc.

It was just a passing comment is all.

Fair enough.

08-04-2010, 12:31 PM
\|Zach\| For The Glory Of The City Join Date: Sep 2002 Location: Kansas City Casino cash: $3006768	40 billionaires pledge to give away half of wealth Gates, Buffett lead campaign to persuade America's wealthiest to donate their fortunes little over a year after Bill Gates and Warren Buffett began hatching a plan over dinner to persuade America's wealthiest people to give most of their fortunes to charity, more than three-dozen individuals and families have agreed to take part, campaign organizers announced Wednesday. In addition to Buffett and Gates — America's two wealthiest individuals, with a combined net worth of $90 billion, according to Forbes — 38 other billionaires have signed The Giving Pledge. They 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. "We're off to a terrific start," Buffett, co-founder and chairman and CEO of Berkshire Hathaway, said in a conference call also attended by Bloomberg and San Francisco hedge-fund manager Tom Steyer and his wife Kat Taylor, founder of OneCalifornia Bank. Buffett said he and Gates, the Microsoft co-founder, and Gates' wife Melinda made calls to fellow billionaires on the Forbes 400 list of wealthiest Americans — in many cases, people they had never met — to try to persuade them to join the giving pledge. "We contacted between 70 and 80 people to get the 40. A few were unavailable. We don’t give up on them. Every saint has a past, every sinner has a future. We’ll keep on working," Buffett said. Bloomberg, who made the bulk of his estimated $17.5 billion fortune from financial news and information services company Bloomberg L.P., said it didn't make sense to leave everything to his children and have them go through life as members of "the lucky sperm club." "You don’t want to leave them so much money that it ruins their lives," Bloomberg said. "You want kids who can look back and say, 'Yeah my family helped me but I did something on my own.' " Added Steyer: "We need to support each other. I look at this as replanting your garden so that future generations will have a full bounty of crops." The United States has roughly 400 billionaires — about 40 percent of the world's total — with a combined net worth of $1.2 trillion, according to Forbes. If they all took the pledge, that would amount to at least $600 billion for charity. The 40 names that have pledged to date have a combined net worth surpassing $230 billion, according to Forbes. Several of them have said they plan to give away much more than 50 percent of their wealth. Buffett has promised to donate more than 99 percent of his wealth. http://www.msnbc.msn.com/id/38556042/ns/us_news-giving/
Posts: 54,754

08-04-2010, 04:59 PM	#46
LaChapelle Banned Join Date: Mar 2009 Casino cash: $10004900	Is it the old money that's not letting go I could understand that
Posts: 8,588

08-04-2010, 05:39 PM	#48
BIG_DADDY THE RED MENACE Join Date: Aug 2000 Location: Texas Casino cash: $2558410	With that kind of money Gates can vaccinate the world __________________ The diabolical genius of Marxism-Socialism is that it provides the emotional and intellectual road map for autocrats to persuade millions of people to support their own enslavement to government. ~Mark Levin April 15, 2019
Posts: 32,522

08-04-2010, 05:49 PM	#49
boogblaster MVP Join Date: Sep 2005 Location: Verdigris Valley Campsite Casino cash: $10004900	its some kind of tax shelter __________________ WR or S please
Posts: 10,305

08-04-2010, 07:11 PM	#51
InChiefsHeaven Rockin' yer FACE OFF! Join Date: Feb 2003 Location: Omaha, Nebraska Casino cash: $565437	The hatred for the rich and successful always puzzles me. They make a shit load of money (and also create a lot of prosperity for others while they are making a shit load of money) and that's evil. Then they make a huge gesture to give a huge percentage of it away to charity, and that's evil. America. Who knew? __________________ We have a million reasons for failure, but not one excuse... Die Donks, DIE!! Holy Crap fellas!!! We did it!!! THREE TIMES!!!
Posts: 27,268

08-04-2010, 10:50 PM	#53
BigChiefFan MVP Join Date: Feb 2001 Location: In the Top 10 Casino cash: $9924205	"Every saint has a past, every sinner has a future. We’ll keep on working," Buffett said. That's a weird ass quote. __________________ A 35 year drought can make you thirsty.
Posts: 15,777

08-05-2010, 01:52 AM	#57
googlegoogle Banned Join Date: Nov 2008 Casino cash: $10004900	which charities?
Posts: 4,700

08-05-2010, 08:27 AM	#59
RJ Supporter Join Date: Oct 2000 Location: In a shotgun shack Casino cash: $9895202	That is very kind and generous of those 40 people and families. Kudos to them.
Posts: 14,940