Second richest man in the world gives all his money to charity

Gone West

Apparently he's stepping down as exec chairman of Microsoft, and giving his entire $58billion fortune to charity.
Well, to the bill and melinda gates foundation charity, but still.
Hats off to the lad.
If you had 30 billion euro and worked your ass off for 30 years to get it, would you give it all to charity?

http://www.dailymail.co.uk/news/worldnews/article-1027878/Bill-Gates-pledges-58-billion-fortune-charity--children.html

(no I don't read the daily mail)

dade

didn't his buddy do teh same thing recently

mikemac

dade wrote: »

didn't his buddy do teh same thing recently

Warren Buffet, financial genius.
Started a small fund and built his way up.

Afaik, he is going to give each of children 1 million dollars and no more as he is afraid more money would ruin them.
A man of principles! :cool:

Sucks to be his child though and you get 1 million and you were expecting tens of billions. Just to put it in perspective

Edit: Chuck Feeny has given $1 billion to projects in Ireland. Legend too imo!

Rob_l

micmclo wrote: »

Warren Buffet, financial genius.
Started a small fund and built his way up.

Afaik, he is going to give each of children 1 million dollars and no more as he is afraid more money would ruin them.
A man of principles! :cool:

Sucks to be his child though and you get 1 million and you were expecting tens of billions. Just to put it in perspective

Well he seems to have the right idea when you look at many of the trustafarians attitudes especially the extreme end of it in the americas.

I think fair play to bill gates he cant take all that money with him, he will still have more than enough and his share of microsoft and he is managing to really make a difference in the world. So fair play to him

jcrowbar

Sucks to be his child though and you get 1 million and you were expecting tens of billions. Just to put it in perspective

Didn't something similair happen to Paris Hilton not so long ago?

Mind you she'll make her money prostituting herself to the TV netwoks anyway.:rolleyes:

sam34

just from reading the thread title i thought you meant he was giving all his dosh away right now, and i was thinking wtf, but he's talking about leaving it in his will to charity, which i think is fair enough.

also, thought he was worlds richest man- if he's second, who is richest (and does anyone have his contact details )

ScumLord

What a tit.

The Bollox

fair play to him. not many people would do that

monkeyfudge

sam34 wrote: »

just from reading the thread title i thought you meant he was giving all his dosh away right now, and i was thinking wtf, but he's talking about leaving it in his will to charity, which i think is fair enough.

also, thought he was worlds richest man- if he's second, who is richest (and does anyone have his contact details )

The Ikea guy is supposed to be richer... but I think it depends on what you count as money and how you count it.

dade

i assume he's giving it to them when he croaks it and not now. imagine the wife if he retires next week and gives all the money away the same day. "sorry love it's off to walmart for a trolley i spotted a nice place under a bridge for us to move to"

Robbo

monkeyfudge wrote: »

The Ikea guy is supposed to be richer... but I think it depends on what you count as money and how you count it.

I'm pretty sure little allen keys and half-assembled furniture don't count as legal tender.

Tabnabs

Robbo wrote: »

I'm pretty sure little allen keys and half-assembled furniture don't count as legal tender.

Does in Sweden

LouOB

I smell a charity swindle even before they guy is dead
That much money swishing around in one organisation is looking for trouble imo

Hello - how much money has been pumped into Africia and other countries for politicians and developers to hoover it up without it reaching the people that need it

Steve_o

dade wrote: »

i assume he's giving it to them when he croaks it and not now. imagine the wife if he retires next week and gives all the money away the same day. "sorry love it's off to walmart for a trolley i spotted a nice place under a bridge for us to move to"

You'd imagine so... if not then its off to Judge Judy with the Gates's...

Also, Dont some of his kids have top jobs in microsoft and earn millions themselves...?

Run_to_da_hills

I now feel guilty about all those bootleg copies of Windows that I have been using in the past.

Rb

LouOB wrote: »

I smell a charity swindle even before they guy is dead
That much money swishing around in one organisation is looking for trouble imo

Hello - how much money has been pumped into Africia and other countries for politicians and developers to hoover it up without it reaching the people that need it

Agreed. Such a sum of money is bound to bring out the dark side in at least one of the people involved in the organisation.

However, fair play to him.

prendy

it will change the world economy when he dies as poorer countries will suddenly have more wealth. its some gesture though, kinda like robin hood!

as for his kids i think the figure is $10m each, they are all on the board of Microsoft so get a very health annual dividend/salary so they'll manage!:D

Sherifu

I think Bill is smart enough to have some good people in charge.

jcrowbar

Sherifu wrote: »

I think Bill is smart enough to have some good people in charge.

Sure, like steve balmer?

pickarooney

He's givin' all his cash away but whitey ain't gittin' none. The big racist!

Pompey Magnus

micmclo wrote: »

Warren Buffet, financial genius.
Started a small fund and built his way up.

Afaik, he is going to give each of children 1 million dollars and no more as he is afraid more money would ruin them.
A man of principles! :cool:

Sucks to be his child though and you get 1 million and you were expecting tens of billions. Just to put it in perspective

I'm pretty sure I remember reading in the paper last month that each child would only get $10,000. How rubbish is that?

Heisenberg.

This post has been deleted.

sam34

Depeche_Mode wrote: »

I'm pretty sure I remember reading in the paper last month that each child would only get $10,000. How rubbish is that?

tbh, i wouldnt have a problem with that. it really annoys me that people expect so much inheritance from their parents. these parents (generally) have worked hard for their money, have provided for their kids while they were kids, and provided for an education for them to allow them get jobs. thats a parents job done, in terms of financial commitment, as far as i see it. (exceptions being if an adult offspring has a chronic illness preventing them from working).

if the parents then decide to give their money to any cause, well, thats their right.

a sibling of mine is expecting cash from our parents, who recently sold an investment property, and my sibling thinks they should give us all approx 50k!! now, firstly, giving us all 50 thousand would amount to more than what they got for the house. but secondly, why should they?? they ensured we all had an education, so we all thankfully have jobs. they struggled to provide for us in the recession days of the 80s. this is their nest egg and i think they deserve to enjoy it- let them go to a garage and pay up front for a bmw/merc/whatever, or go on fab holidays etc, whatever they want to do.
they certainly should not feel obliged to give any of us anything. if they offered me money id politely refuse it.

adults shouldnt expect their parents to fund their lives/lifestyles imo

humanji

Run_to_da_hills wrote: »

I now feel guilty about all those bootleg copies of Windows that I have been using in the past.

No you're not

The Scientist wrote: »

$58bn would only feed Africa for about a week.

Not if he buys them Koka Noodles. It'll last them years and they'd have a good variety of flavours!

Or, he could feed them with $58bn worth of rat poison, thus solving the hunger problems. And if they go down the Soylent Green route, it'd save any future hunger problems.

Robbo

The Scientist wrote: »

$58bn would only feed Africa for about a week.

You've never heard of the Eurosaver menu?

latenia

Depeche_Mode wrote: »

I'm pretty sure I remember reading in the paper last month that each child would only get $10,000. How rubbish is that?

TBH if it is only $10,000 they should tell him to shove it up his ass. That small an amount is taking the piss.

Gone West

The Scientist wrote: »

$58bn would only feed Africa for about a week.

Incorrect, its a bit of a myth that most people in africa are starving!
King Zanzobar the fifth's western union money release fee is going somewhere

600 out of the 800 million people in africa (rough enough numbers) are not malnourished.
58bn would feed all of africa, including the wealthy nations, and all the people who are not hungry for three weeks, and it would feed the malnourished people for about 4 months solidly.


(since youre a scientist, the disparity in the numbers occurs because most malnourished people live in countries where prices are a good bit cheaper)

Gone West

latenia wrote: »

TBH if it is only $10,000 they should tell him to shove it up his ass. That small an amount is taking the piss.

Ok, would you turn down 10 grand from your dead father? Would you tell him to shove it up his ass?
Obviously he is making a statement, and trying to get them to earn their own keep. Again, fair play.
I'm reasonably sure that they are already living and will probably continue to live at the top 0.001% of the world's wealth anyways, I'm sure they're not going hungry.

Jay P

He already has the record for the largest donation to charity. I dunno how much, but I assume it was lots and lots. I'm fairly sure he announced this a few years ago, that he would be giving up his fortune to charity and staying o in Microsoft in some Executive job for life.

latenia

FuzzyLogic wrote: »

Ok, would you turn down 10 grand from your dead father? Would you tell him to shove it up his ass?
Obviously he is making a statement, and trying to get them to earn their own keep. Again, fair play.
I'm reasonably sure that they are already living and will probably continue to live at the top 0.001% of the world's wealth anyways, I'm sure they're not going hungry.

I'm not disputing the concept of not leaving them so much money that it ruins them personally. If he wanted to leave them nothing then make it $0. If he wanted them to be comfortable then make it $5 million. 10k is the equivalent to him of about 20c. A piss take.

Gone West

No, 10k is fine, a months wages or whatever, but still ensures that they're gonna have to work!
$5 million is making them millionaires.

Jigsaw

Obviously Mr Gates does not believe in the old adage that charity starts at home.

If I was one of Bill Gates kids, I'd be pi$$ed off in a way words could not adequately express.

But then again I am selfish. I love earning, having and spending money. I want material things. I want more money than anyone else I know.

After my immediate family, my only love is money.

latenia

FuzzyLogic wrote: »

No, 10k is fine, a months wages or whatever, but still ensures that they're gonna have to work!
$5 million is making them millionaires.

10k won't even cover the therapy bills they're going to face as a result of having Bill Gates as their dad.

gabgab

Gotta agree with this,

If you were a waiter, would you take a tip of 10cent, Fuzzy Logic?

Its nonsense, whilst I agree with the idea behind it, I think lots of people are missing a big point, how many self made billionaires out there were what you would describe as excellent parents?

These people while very driven, determined, mostly follow a similar pattern, working relentlessly and letting nothing get in their way to achieve their goal, then realising that there is more to life than material wealth,

While these are excellent qualities in a business person, they rarely allow time for a father or mother to be around, watching a match, helping with homework, all the normal stuff

Terry

The Scientist wrote: »

$58bn would only feed Africa for about a week.

Not if you teach them how to fish.

gabgab

Hilarious reply :D

Idbatterim

the kids are only getting $1 million! why not keep the money and just donate the insane interest on that amount!

Mweelrea

I love the way people are saying only $1 million.
True its not a fraction of what they could be given but its a substantial amount of money to be given and never have done a days work.

seamus

I would imagine that Bill Gates' kids are already insanely wealthy and by the time he actually does shuffle off, they'll be high-level executives or running their own successful companies.

I find it quite stupid that people expect anything from their parents' will. They spend the first 18-25 years of your life wiping your arse, putting a roof over your head, food down your throat and a school chair under your arse.

And you're pissed off because they won't save every other penny so you can blow it on a new kitchen when they die?

ejmaztec

Can I donate my debts to his charity?

Wazdakka

Terry wrote: »

Not if you teach them how to fish.

Give a man a fish and he will be hungry tomorrow...
Teach a man to fish....
And he will sit in a boat with his mates drinking beer for the next two weeks

titan18

I'm pretty sure they're getting like $17 million each,not $10000

KnifeWRENCH

sam34 wrote: »

also, thought he was worlds richest man- if he's second, who is richest (and does anyone have his contact details )

Carlos Slim Helu - a Mexican businessman. Made his fortune investing in telecom and financial companies.

http://money.cnn.com/2007/08/03/news/international/carlosslim.fortune/

leninbenjamin

square_igloo wrote: »

Carlos Slim Helu - a Mexican businessman. Made his fortune investing in telecom and financial companies.

http://money.cnn.com/2007/08/03/news/international/carlosslim.fortune/

i thought Buffet is?

KnifeWRENCH

leninbenjamin wrote: »

i thought Buffet is?

Hmmm...according to Wikipedia you're right! Buffet is a mere $2bn richer than Helu.
And I read a big article in a paper about Helu being the richest.

IKEA man is only 7th.....LOSER!!

http://en.wikipedia.org/wiki/List_of_billionaires

jesus_thats_gre

This proves conclusively that Microsoft is evil...

slipss

sam34 wrote: »

tbh, i wouldnt have a problem with that. it really annoys me that people expect so much inheritance from their parents. these parents (generally) have worked hard for their money, have provided for their kids while they were kids, and provided for an education for them to allow them get jobs. thats a parents job done, in terms of financial commitment, as far as i see it. (exceptions being if an adult offspring has a chronic illness preventing them from working).

if the parents then decide to give their money to any cause, well, thats their right.

a sibling of mine is expecting cash from our parents, who recently sold an investment property, and my sibling thinks they should give us all approx 50k!! now, firstly, giving us all 50 thousand would amount to more than what they got for the house. but secondly, why should they?? they ensured we all had an education, so we all thankfully have jobs. they struggled to provide for us in the recession days of the 80s. this is their nest egg and i think they deserve to enjoy it- let them go to a garage and pay up front for a bmw/merc/whatever, or go on fab holidays etc, whatever they want to do.
they certainly should not feel obliged to give any of us anything. if they offered me money id politely refuse it.

adults shouldnt expect their parents to fund their lives/lifestyles imo

Well said. I couldn't agree more if I spent a lifetime studying agreement at the Cambridge School of Concurrency....or something. I simply can't stomach let alone understand any adult that still expects mammy and daddy to hand them over pocket money. Once you turn 18, work or starve. Your parents have just spent the last 2 decades making sacrifices and depriving themselves of things to pay your way for you. For someone to then expect to be given more for nothing is sickening. I mean, if my parents decided to leave me something in thier will I would be extremely grateful but I certainly would never expect them to.

tech77

ejmaztec wrote: »

Can I donate my debts to his charity?

LOL.
Fair play to him, always thought he was a decent enough sort tbh.

To the person who asked who's the richest person in the world:
Isn't it some Mexican telecom mogul with a funny name?

That amount of wealth is mind-boggling though- there are so many ways of imagining it:
Every time you hear figures like, say, the total credit card debt of the Irish people, or something similar, i sometimes think "Bill Gates could pay that off tomorrow".

Tar.Aldarion

micmclo wrote: »

Warren Buffet, financial genius.
Started a small fund and built his way up.

Afaik, he is going to give each of children 1 million dollars and no more as he is afraid more money would ruin them.
A man of principles! :cool:

Sucks to be his child though and you get 1 million and you were expecting tens of billions. Just to put it in perspective

Edit: Chuck Feeny has given $1 billion to projects in Ireland. Legend too imo!

That Buffet guy also gave huge amounts to Limerick university to help it run I believe.

Rb

titan18 wrote: »

I'm pretty sure they're getting like $17 million each,not $10000

Indeed, I heard it was substantially more than €10k too.

Rb

On the subject of greedy children/inheritance.

Leona Helmsley left her cat $12 million when she died last year, and divided the rest of her cash up between her family except for two grandchildren who she apparently had a personal feud with.

This week the Manhattan courts have decided to reduce the $12 million to $2 million and split the cash between the two grandchildren that were excluded due to her apparently having an "unfit mind" when writing the will.

Absolutely disgusting behaviour by both her grandchildren and the Manhattan courts. The woman designated who she wanted the money to go to, and the courts overturn it.

(link)

Oh well, lets hope karma plays its part and wipes out said grandchildren before they get the chance to enjoy it.