"virtually" wonder why it needs to be qualified like this.
Because keyboard-warrior pedants will moan if he bought himself a $200K Porsche (0.0001% of that $200B) or even just a dinner for his kids...
My new deadline: 20 years to give away virtually all my wealth
41–50 of 704 posts
Re: My new deadline: 20 years to give away virtually all my wealth
#42Re: My new deadline: 20 years to give away virtually all my wealth
#43Re: My new deadline: 20 years to give away virtually all my wealth
#44How much power is concentrated in the hands of individuals... It's great that Gates is choosing to use that power philanthropically, but it also raises questions about the long-term role of private wealth in solving public problems.
Well, it's not as if the public sector is solving many problems these days. We seem to have decided, collectively, that we'd rather have more problems.
At least that's what we've been voting for.
Re: My new deadline: 20 years to give away virtually all my wealth
#45"virtually" wonder why it needs to be qualified like this.
"all his wealth" would mean ALL of his wealth, which is unrealistic.
Saying "99.999%" of my wealth invites critics later on when he donates "99.98%".
Substitute "virtually" by "almost" and it's the same. It's just style.
Re: My new deadline: 20 years to give away virtually all my wealth
#46Say what you want, but I respect this a lot. Sure as hell beats giving it all to your kids.
You don't have to love Gates or everything the foundation does to recognize that putting billions toward global health and poverty is way better than setting up a dynasty or letting it sit in investments
Re: My new deadline: 20 years to give away virtually all my wealth
#47[flagged]
> So he’s going to selflessly donate it to himself to save himself from taxes? What a hero.
You don't really "save yourself from taxes" by donating money to charity.
Option A: sell stock for $100, pay taxes of $20, spend $80 on yourself Option B: donate stock of $100 to charity, and spend $0 on yourself
Which of these options leaves Gates with more money in his pocket to spend on himself?
Giving money away doesn't save you from taxes on your income; you just forego the income entirely. The money is gone. It's no longer yours. Why would you be paying taxes on it?
Re: My new deadline: 20 years to give away virtually all my wealth
#48One of the great tragedies of the world is that while he is arguably the philanthropist with the highest positive impact in human history, a significant part of the population seems to still think he is the literal Antichrist.
Re: My new deadline: 20 years to give away virtually all my wealth
#49It's interesting he decided to go this way rather than put it into a sustainable trust and just trickle money out indefinitely.
I suspect he believes that these causes need shock therapy. To eradicate a disease, you are better off doing it all in one go.
I also wonder if he looks at something like the Ford Foundation and realize in the long run that any charitable trust will just turn into an overstuffed political advocacy group that does little to advance his charities or even his legacy.
Re: My new deadline: 20 years to give away virtually all my wealth
#50Gates seems like a real embodiment of "Effective Altruism".
1. Get a bunch of money by any means necessary.
2. Donate/invest in altruistic causes.
Unfortunately, most people that use effective altruism to justify themselves hoarding wealth seem to forget the second part.