Why wait? There is functionally no difference between $1b and $147b. He would get to see the fruits of his efforts if he spends it now.
this post was submitted on 27 Nov 2024
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Because if it takes 10 years to donate that much and the market stays at its 10 year average growth they stand to have something like 190b dollars left when they are done donating that 149b.
With that logic he should give it to Jeff Bezos so he can keep growing it after he's gone.
As long as the promise is on the horizon and they don't ever pay up then poor idiots will keep making excuses for them to not dump their ill gotten gains back into the system they stole it from!
I feel like you are inventing the concept of an endowment from first principles.
What do you mean?
I once met a wealth manager for a billionaire whose entire job was to donate money as effectively as possible, focusing on infrastructure and education projects in Central and South America. She explained that the challenges are often unexpected.
For example, most smaller local organizations struggle to absorb large sums of money efficiently. Take, for instance, a group that builds homes for those in need. A sudden donation of millions of dollars can be too difficult to manage efficiently. So they try to be mindful of local needs, build trust, and build long-term partnerships.
So, why not just support many small communities? Well, a billion dollars could fund a thousand 1 million$ projects. That’s why this billionaire hired multiple wealth managers just to handle donations. That chat changed my perspective on how difficult it can be to give away large amounts of money.
Still, I’d rather them pay fair taxes.
I was about to say, they should just pay taxes, after all this is what government is for.
But if they donate enough then we will never force them to give up all their excess wealth.
And they like having excess wealth, a lot, like most rich people have hoarding mental disorders.
None of them really want to better society, they just want us to not rip all their skin off and redistribute their wealth so our economies benefit everyone again.
It reminds me of this thing I read where countries would give all these donated designer clothes to some country, only for it to collapse their economy because making clothes was one of the only jobs available there.
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"Dragon gives away hoard after death. That will fix all the lives he ruined, right?"
How did he ruin lives? Didn't he mostly make his money playing stocks and investing in stuff?
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Fuck Warren Buffett. He’s just another scumbag who has soaked up wealth by taking full advantage of neoliberal economics. There are no good billionaires.
People are so stupid, they look at that figure and go "147 billion. Huh"
That cunt is a fucking greedy evil bastard and is literally causing children to starve to death because people can't afford food. This evil shit has $18 for every man, woman and child on earth. Think about that.
I'm not some sort of reactionary but I'm astonished how people don't realise just how much suffering these evil fuckwits are causing.
Burn the cunt on a stake
He’s entered the Rockefeller stage of his life. Build a bunch of community shelters or rebuild America’s railroad network or something useful, Warren.
There comes a certain point where wealth ceases to be a blessing, and managing it becomes a full time occupation. I can respect this decision.
All the more reason to level the playing field, eh?
I would respect it more if I wasn't so jaded, perhaps. But there's been just too many charity foundations involved in scandals of one type or another.
So, yes, let's level the playing field! I'm with you there...
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Anyway I can email him asking for a couple hundred thousand? Drop in the bucket, he wouldn't even notice, yet my life would be changed forever.
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Buffett gives money to Bill Gates to avoid dynastic wealth. Hmm
Not Bill Gates, the Bill & Melinda Gates Foundation. "The primary stated goals of the foundation are to enhance healthcare and reduce extreme poverty across the world, and to expand educational opportunities and access to information technology in the U.S.".
Yes that is the goal they State and the propaganda they write.
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No shit. What else would he do with it? Cling on to his fortunes while descending into the particular pits of the underworld?
That is Elon's plan.
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