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40 billionaires to give away 1/2 of their wealth - what's the catch?

Discussion in 'Political Discussion' started by DisgruntledTunaFan, Aug 4, 2010.

  1. DisgruntledTunaFan

    DisgruntledTunaFan Rookie

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    [​IMG]

    More than three dozen of America's wealthiest individuals and families have joined Bill Gates and Warren Buffett in agreeing to give away at least half their fortunes to charity.


    The announcement was made Wednesday by The Giving Pledge, an effort officially launched by Gates and Buffett earlier this year to persuade the richest people in America to commit to giving the majority of their wealth to the philanthropic causes and charitable organizations of their choice, either during their lifetime or after their death.

    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 are taking the give-it-away 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.

    40 billionaires pledge to donate half their wealth - U.S. news - Giving - msnbc.com
  2. khayos

    khayos Rookie

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    More proof that we don't need the government to redistribute wealth -- charity starts with the individual.
  3. DarrylS

    DarrylS PatsFans.com Supporter PatsFans.com Supporter

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    That to whom much is given, much is expected...

    Nice job
  4. Holy Diver

    Holy Diver Rookie

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    #80 Jersey

    Bravo...

    Glad to see my boss on that list!



    and Bloomberg's quote about lucky sperm is amusing.

    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."
    Last edited: Aug 4, 2010
  5. efin98

    efin98 Rookie

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    Who can blame him for not wanting to leave it all to his kids to squander and sully...

    The Hilton kids. Andrew Luster. Woddy Johnson's daughter(may she RIP). The list of rich trust fund kids sullying their parents' and grandparents' fortunes is a mile long.

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