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40 Billionaires Pledge To Give Away Half Of Wealth

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40 billionaires pledge to give away half of wealth

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.

"We’ve really just started, but already we’ve had a terrific response,” Buffett, co-founder and chairman and CEO of Berkshire Hathaway, said in a statement. “At its core, the Giving Pledge is about asking wealthy families to have important conversations about their wealth and how it will be used.

"We’re delighted that so many people are doing just that – and that so many have decided to not only take this pledge but also to commit to sums far greater than the 50 percent minimum level.”

Bloomberg, who made his fortune from financial news and information services company Blomberg L.P., added: "If you want to do something for your children and show how much you love them, the single best thing — by far — is to support organizations that will create a better world for them and their children. And by giving, we inspire others to give of themselves, whether their money or their time.”

CNN founder Ted Turner said he felt compelled to give back. "I’m particularly thankful for my father’s advice to set goals so high that they can’t possibly be achieved during a lifetime and to give help where help is needed most," he said. "That inspiration keeps me energized and eager to keep working hard every day on giving back and making the world a better place for generations to come.”

Gates, the Microsoft co-founder, and Buffett launched "The Giving Pledge" in June. The effort could funnel a colossal amount of money into nonprofit groups. If the individuals on the Forbes 400 list of richest Americans pledged half their net worth to charity, that would amount to $600 billion, according to Fortune magazine.

The United States has roughly 400 billionaires, about 40 percent of the world's total, according to Forbes. The 40 names that have pledged to date have a combined net worth surpassing $230 billion.

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Is this the rich saying "don't go after us when it all gets really bad. See we are good, we give away money".

Can't take it with you.

Good causes or the government, I know which I'd choose.

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Is this the rich saying "don't go after us when it all gets really bad. See we are good, we give away money".

Bingo!

They don't fancy being the ones hanging from lamposts.

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Can't take it with you.

Good causes or the government, I know which I'd choose.

Didn't Teddy once utter something about the world being full of useless eaters? Do you think he's having a change of heart?

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Didn't Teddy once utter something about the world being full of useless eaters? Do you think he's having a change of heart?

Comes across as a bit eccentric.. sort of a Prince Charles kinda character.

But actually find myself agreeing with some of his basic statements.

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Is this the rich saying "don't go after us when it all gets really bad. See we are good, we give away money".

Unnecessarily sour.

Probably more a case of a gang of people who, having proven most of their lives that they can see better than most others and act decisivey on the knowledge have decided they can see better than the idiot governments their idiot compatriots elect and have decided to do stuff they want to.

It's what people with foresight and independence tend to do.

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There was an interesting Moneyweek article a few weeks back pointing out that many of the public displays of billionaires giving away their money are just that - public displays.

Apparently some use these displays to buy power, to influence people and to set up numerous trusts to which they then appoint and employ former politicians.... allegedly.

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Unnecessarily sour.

Probably more a case of a gang of people who, having proven most of their lives that they can see better than most others and act decisivey on the knowledge have decided they can see better than the idiot governments their idiot compatriots elect and have decided to do stuff they want to.

It's what people with foresight and independence tend to do.

I don't disagree with what you say but (I include myself in this as well) how much is enough?. Not exactly the" Widows Mite" for any of them (or me for that matter). I always feel I am a hypocrite for some reason when I give to owt these days.

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I don't disagree with what you say but (I include myself in this as well) how much is enough?. Not exactly the" Widows Mite" for any of them (or me for that matter). I always feel I am a hypocrite for some reason when I give to owt these days.

Not sure anyone IS crediting them with the Widows Mite, that was raised on this thread in the opposite.

I just find the knee-jerk antipathy to anyone successful a bit tiresome sometimes, especially when I'm quite sure these guys could find ultimate security at a tiny fraction of the price they are paying here and the accusation (endorsed so enthusiastically by another) was was so poorly thought out.

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Is this the rich saying "don't go after us when it all gets really bad. See we are good, we give away money".

There should be a World pledge to force banks to charge Credit Card users the full price for using them, instead of the Banks Taxing the poor + non-users by pushing up the price of everything we buy by 5-8% which is the charges retailers add to all products, to cover their bank charges for Credit Card use!

By scrapping the hidden "Bank Tax" and "BBC tax" it gives an instant boost of up to 15% in income to millions in the UK for minimal hassle! (6% of annual dole money is taken off you for a TV licence - an even higher percentage if you are on income support!)

What Party/Politicians could resist claiming doing that?

Billionaire double standards - giving it away with one hand

With the other hand grasping, they are already 'invested' up to the hilt to cream/skim Billions more off the Earth general population in Green & Eco technologies.

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Not sure anyone IS crediting them with the Widows Mite, that was raised on this thread in the opposite.

I just find the knee-jerk antipathy to anyone successful a bit tiresome sometimes, especially when I'm quite sure these guys could find ultimate security at a tiny fraction of the price they are paying here and the accusation (endorsed so enthusiastically by another) was was so poorly thought out.

Who was showing antipathy towards rich people? Certainly not me. When times are getting very hard you'd have to be an idiot not to do something to appear more down to earth. Sensible people don't want to appear rich when others are struggling.

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That's a good story. I hope those remaining billionairres who hoard their wealth for unknown reasons look at themselves in the mirror and think to themselves - perhaps I can afford to give to charity now too. This will bring enormous wealth to humankind. That's cheered me.

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Not sure anyone IS crediting them with the Widows Mite, that was raised on this thread in the opposite.

I just find the knee-jerk antipathy to anyone successful a bit tiresome sometimes, especially when I'm quite sure these guys could find ultimate security at a tiny fraction of the price they are paying here and the accusation (endorsed so enthusiastically by another) was was so poorly thought out.

I agree. These people, the billionaires, are being generous, and they deserve the happiness which I believe they will get as a result.

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Who was showing antipathy towards rich people? Certainly not me. When times are getting very hard you'd have to be an idiot not to do something to appear more down to earth. Sensible people don't want to appear rich when others are struggling.

The premise - that this is a cynical ploy to buy safety - is childish, because how much safety could a mere billion buy?

No, the whole tenor betrays a simplistic antipathy to wealth which is a recurrent feature of this forum, regrettably. Far more likely is that suggestion that having achieved far beyond any possible material personal need, these guys have pondered what they do next and have come to this thought. Perhaps they are old, bored, or simply seeking a new objective - it's what restless minds do - but it is unlikely to be driven by shallow considerations like buying off the mob, especially when that mob is far easier bought off with bread and circuses.

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Is this the rich saying "don't go after us when it all gets really bad. See we are good, we give away money".

Looks like today's generation of big philanthropists. The 'merkins have an honourable tradition of it, and I expect these billionaires are familiar with Carnegie's words about those who die rich.

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Good on the billionaires. The whole point of accumulating such vast capital is to see that it is deployed wisely.

"The 40 names that have pledged to date have a combined net worth surpassing $230 billion."

Apropos of nothing, I read that the total outstanding student debt in the US is $730bn, of which 60% is in default, deferment or forbearance ($438bn).

Even billionaires can't change much really in the grand scheme of things.

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Which charities are they actually giving the money to? It could be the billionaires' benevolent fund!

Exactly...... and all tax deductible.

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  • 140 Brexit, House prices and Summer 2020

    1. 1. Including the effects Brexit, where do you think average UK house prices will be relative to now in June 2020?


      • down 5% +
      • down 2.5%
      • Even
      • up 2.5%
      • up 5%



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