Over 30 Billionaires join Buffet-Gates; Pledge 50%+ of Wealth

[alltherage]

NEW YORK - More than 30 U.S. billionaires pledged on Wednesday to give away at least 50 percent of their wealth to charity as part of a campaign by investor Warren Buffett and Microsoft founder Bill Gates.

Among the billionaires joining the campaign are 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 and investor Ronald Perelman, according to The Giving Pledge campaign.

Link

This is pretty cool... I didnt think they'd get this kind of response.

[VladtheImpaler]

My excitement is nothing compared to the excitement felt by their families.

[Prototype]

I gave 50% of my Wealth... $0.00.

[peter12]

What? We don't need a massive, bureaucratic federal government to promote and distribute altruism and charity?!

[Azure]

Originally Posted by peter12

What? We don't need a massive, bureaucratic federal government to promote and distribute altruism and charity?!

No kidding.

I wonder how many billions this will equal in the end. Huge contributions across the board.

And I'd trust a private organization run by some of the brightest people in the world to be able to make a difference before I'd trust the government.

[Barnes]

I wish my name was T. Boone Pickens.

[Table 5]

I'm not a big fan of inherited wealth. It generally does more harm than good.

You tell em T-Boone. The less annoying and lazy trust fund babies, the better. There's no swifter way to ruin somebody's drive in life then to give them everything they could ever want at the start.

[peter12]

Originally Posted by Table 5

You tell em T-Boone. The less annoying and lazy trust fund babies, the better.

You're the guy in NYC, right? I can see why you'd think that. I've never seen so many "Marc Jacob" clad lazy people in the middle of a Wednesday than I did in SOHO.

[zuluking]

Dirty capitalist pigs!

[Table 5]

Originally Posted by peter12

've never seen so many "Marc Jacob" clad lazy people in the middle of a Wednesday than I did in SOHO.

I know a few people like that....trust fund babies with all the opportunity in the world, but who have absolutely no direction in their life. Floating from one menial job to another....not really because they need to, but just for something to do. Peter Pan syndrome to the max.

Still better than the JAPs...

[Fozzie_DeBear]

Buffet and Gates for a Nobel Prize?

[SilverGS]

Wow. I mentioned this exact concept to a friend about 10 years ago.

I am glad that many are doing it.

[alltherage]

Originally Posted by SilverGS

Wow. I mentioned this exact concept to a friend about 10 years ago.

I am glad that many are doing it.

Crap, OK you can have the Nobel Prize then.

[CaptainCrunch]

So then bill gates told me to give half my money to charity

I said I ain't givin up no three fiddy

[Phanuthier]

Originally Posted by alltherage

Link

This is pretty cool... I didnt think they'd get this kind of response.

Buffet and Gates are exactly what the world needs - someone to take the first step and get the ball rolling.

[afc wimbledon]

Originally Posted by Barnes

I wish my name was T. Boone Pickens.

You dont need money to have a cool name, 'Boots' Bellagio for instance.

[MarchHare]

Originally Posted by Table 5

You tell em T-Boone. The less annoying and lazy trust fund babies, the better. There's no swifter way to ruin somebody's drive in life then to give them everything they could ever want at the start.

I read a story a few weeks ago about a rich Chinese man who was giving away all of his wealth to charity. When asked what his children thought of this, he said (paraphrasing), "If they are competent, they won't need my money to succeed. If they're not competent, then giving it to them is the worst thing I could possibly do for them." Warren Buffett also famously said, "I want to give my children enough money so they can do anything, but not so much that they can do nothing."

[J pold]

Warren Buffet is a modern day hero.

[Hack&Lube]

Originally Posted by Patrick Bateman

Now, John, you've got to wear clothes in proportion to your physique. There are definite do and don'ts, good buddy of wearing a bold striped shirt. A bold stripe shirt calls for solid colored or discreetly patterned suits and ties. Yes, always tip the stylist 15%. Listen, John, I've gotta go, T. Boone Pickens just walked in. Just joking. No, don't tip the owner of the salon. Okay John? Right? Got it.

[Calgaryborn]

Im not so sure this is great news. I was listening to an interview the CBC had with Ralph Nador a few months ago. He was out selling his new book and implied that what Gates and Buffet were doing was his idea. He said that Gates joined up with Buffet and George Soros after reading advanced copies of his new book.

In his book Nador suggests the best way to better the lives of the poor wasn't in hand outs or even digging wells, providing plant seeds, ect. I forget what he called that kind of charity but, basically he seen it as changing very little long term. What Nador was suggesting is that the money should be invested in organizations whoes aim is the changing of governmental policies to make them more favourable to the poor. I don't think he was thinking so much about the governments of these poor countries but, rather the Western ones. I could be wrong on that one though.

What is scary is the thought of the kinds of millions these guys have being used to influence politics for the poor. Our governments already often seems to be out of step with the needs of the average citizen. The influence such wealth could have on our political leaders can't be good. Basically in Ralph Nador's model you take the Billion dollars you were going to give away in Africa and use it to support organizations who will work towards getting people elected to public office who will spend 10 times that in aid to Africa. Unfortunately that means guys like you and me see more of their limited wealth taken away.