When I was young and getting my driving license in Madrid I had to take a bus to the place were exams were done, in the south of Madrid(Mostoles). A friend of mine worked on IKEA and he told me that it was a lot of expectation as the founder had gone to Spain and it was taking the same bus that I took in order to visit the stores in Spain. It was surprising to me that someone owning billions will take the bus, while…
Ikea founder leaves fortune to no one, structures it to ensure it lasts forever
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Re: Ikea founder leaves fortune to no one, structures it to ensure it lasts forever
#12https://en.m.wikipedia.org/wiki/Perimeter_Institute_for_Theo...
https://en.m.wikipedia.org/wiki/Howard_Hughes_Medical_Instit...
Re: Ikea founder leaves fortune to no one, structures it to ensure it lasts forever
#13When I was young and getting my driving license in Madrid I had to take a bus to the place were exams were done, in the south of Madrid(Mostoles). A friend of mine worked on IKEA and he told me that it was a lot of expectation as the founder had gone to Spain and it was taking the same bus that I took in order to visit the stores in Spain. It was surprising to me that someone owning billions will take the bus, while…
Re: Ikea founder leaves fortune to no one, structures it to ensure it lasts forever
#14"The structure, which Kamprad established in the 1980s, assures that the Almhult, Sweden-based company stays outside the family’s direct control." "His wealth will now be dissipated " "Kamprad was not interested in money" Does anyone care about money less than Billionaires?
Re: Ikea founder leaves fortune to no one, structures it to ensure it lasts forever
#15"The structure, which Kamprad established in the 1980s, assures that the Almhult, Sweden-based company stays outside the family’s direct control." "His wealth will now be dissipated " "Kamprad was not interested in money" Does anyone care about money less than Billionaires?
When you have $2.50 to your name, but you have to feed your family for the next week, you care a lot about money because you might die. I suspect billionaires see money more like kids collecting stickers. It's just a game, constantly trying to get more, for no obvious reason.
If you're Gates, you likely feel an immense obligation to not destroy $100 billion (as with Buffett), as it's meant to be put to use as a public good. That has also become his professional life. And ideally you conservatively grow it further, to be able to bring that many more resources to bear on extremely expensive problems.
Re: Ikea founder leaves fortune to no one, structures it to ensure it lasts forever
#16Re: Ikea founder leaves fortune to no one, structures it to ensure it lasts forever
#17No medical or research institute, or Foundation, in there? It’s always nice when someone donates to the sciences or arts in perpetuity. https://en.m.wikipedia.org/wiki/Perimeter_Institute_for_Theo... https://en.m.wikipedia.org/wiki/Howard_Hughes_Medical_Instit... https://en.m.wikipedia.org/wiki/Getty_Foundation
Re: Ikea founder leaves fortune to no one, structures it to ensure it lasts forever
#18Earlier quoted context omitted.
When you have $2.50 to your name, but you have to feed your family for the next week, you care a lot about money because you might die. I suspect billionaires see money more like kids collecting stickers. It's just a game, constantly trying to get more, for no obvious reason.
You might die, or your ego doesn't want to be injured by asking for help? There's a distinction.