This is awesome. I'm not even jealous that he won. I'd have donated some (like everybody else), but I dream of buying a couple houses and a bunch of awesome cars with a lotto win. I'm glad it went to him and he's doing this with it and not somebody like me (and including me).
On further reflection, I'd be impressed if he kept the $40M and gave away the $1.1B. Sounds like this $40M is chump change to him. Not that it isn't a great gesture these days when many rich people (Gates and Buffet excluded) are only interested in adding to their fortunes. But nowhere near "giving 'til it hurts". He likely won't notice the $40M.
He's not worth $1.1B. He was the CEO of a company worth that much, he didn't own the company. I'm sure he had shares and as mentioned made enough to take care of his family for life, but he's not a billionaire
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On further reflection, I'd be impressed if he kept the $40M and gave away the $1.1B. Sounds like this $40M is chump change to him. Not that it isn't a great gesture these days when many rich people (Gates and Buffet excluded) are only interested in adding to their fortunes. But nowhere near "giving 'til it hurts". He likely won't notice the $40M.
My theory is that "giving 'til it hurts" is a virtue borne of poverty, which is why it is so rare among the middle class and the wealthy. The only people I personally know who are voluntarily committed to sacrificing their wealth never had much to begin with.
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On further reflection, I'd be impressed if he kept the $40M and gave away the $1.1B. Sounds like this $40M is chump change to him. Not that it isn't a great gesture these days when many rich people (Gates and Buffet excluded) are only interested in adding to their fortunes. But nowhere near "giving 'til it hurts". He likely won't notice the $40M.
The company that he was CEO of sold for $1.1 billion. That doesn't mean he received the entire payout.
On further reflection, I'd be impressed if he kept the $40M and gave away the $1.1B. Sounds like this $40M is chump change to him. Not that it isn't a great gesture these days when many rich people (Gates and Buffet excluded) are only interested in adding to their fortunes. But nowhere near "giving 'til it hurts". He likely won't notice the $40M.
hmmm, can you please post your net worth and yearly donations to chartiable organizations.
Okay. I misread... I thought he was the sole owner of the company when it was sold. But I gather that he is still quite well off.
UC: I'd have to sit down with a calculator to figure my net worth. But doing some quick calculations it comes out to 6.2% of my net pay. That may be too little in your eyes, but it is more than many others.
Seriously, if someone already quite wealthy gives $40M winnings to charity that is awesome, but pales to a blue collar worker that is going to scrape by for the rest of his life doing the same thing. It is wonderful that this guy is sharing the wealth. But it would be beyond mind bottling for the average Joe to do the same thing.
Okay. I misread... I thought he was the sole owner of the company when it was sold. But I gather that he is still quite well off.
UC: I'd have to sit down with a calculator to figure my net worth. But doing some quick calculations it comes out to 6.2% of my net pay. That may be too little in your eyes, but it is more than many others.
Seriously, if someone already quite wealthy gives $40M winnings to charity that is awesome, but pales to a blue collar worker that is going to scrape by for the rest of his life doing the same thing. It is wonderful that this guy is sharing the wealth. But it would be beyond mind bottling for the average Joe to do the same thing.
Where are people calling for "the average Joe" to do the same thing? I suspect $40 million is still a large pay cheque for this fella, as we have established his didn't pocket the $1.1 billion.
It annoys me that people down grade/discount this decision because he is well off.
For the record, I am not well off (though I fit the CP 1% criteria, and I grew up poor)
Last edited by undercoverbrother; 12-18-2013 at 12:10 PM.
Reason: stupid brain
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Where are people calling for "the average Joe" to do the same thing? I suspect $40 million is still a large pay check for this fella, as we have established his didn't pocket the $1.1 billion.
It annoys me that people down grade/discount this decision because he is well off.
For the record, I am not well off (though I fit the CP 1% criteria, and I grew up poor)
I agree it is annoying , the charities he is donating to are getting the same amount of money regardless of how much he is worth. The fact that he wasn't seeking attention and his wife lost her battle with cancer shows this cause is close to his heart.
On further reflection, I'd be impressed if he kept the $40M and gave away the $1.1B. Sounds like this $40M is chump change to him. Not that it isn't a great gesture these days when many rich people (Gates and Buffet excluded) are only interested in adding to their fortunes. But nowhere near "giving 'til it hurts". He likely won't notice the $40M.
What an outrageous post. You do realize that if he were going by your standards, and donated 6.2% of his net pay, he would have had to have earned over $645 million to give this $40 million away? $40 million is hardly chump change. I find it irritating that some people just seem to give to charity so that they can thumb their noses down on those whom they deem to be "less charitable".
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Who is giving to charity so they can thumb their noses at others?
Like I said, I thought he was the sole owner when the company sold. I stand corrected. But if he was worth $1.1B I stand by the sentiment that giving $40M would not hurt him much financially.
I don't understand the anonymous bit. I do understand that if you win the lottery, you have to agree to allow your picture and name to be used. But when asked what you are going to do with it you can just say "I don't know yet." and then anonymously donate it to whatever charities you see fit.
Last edited by Devils'Advocate; 12-18-2013 at 12:41 PM.
Of course it matters. TDA can't set himself up to feel superior without first trivializing a $40 million charitable donation.
You are going to have to explain that one... Because I certainly know I am not "giving 'till it hurts". I know many people who give more than I both monetarily and with their time. I would not hold myself up as a good example of generosity.
So in a way, it was probably better for society as a whole that a rich person won this rather than just the Average Joe, since it's all being donated.
To me, it doesn't matter if someone is donating out of the goodness of their heart, or if it's for personal glory. Technically, they're still both for self satisfaction. And besides, a donation is a donation.
Hong Kong charities see a ton of donations every year, because the rich people love showing off their wealth and going on TV to hand over a big novelty cheque. But the result is the same. The money goes towards a good cause.
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Only to antagonize TDA, I think it's better that someone wealthy won.
It's more likely they'll donate the whole sum, vs having some butt-hurt whiner, who won't nearly donate as much to Not-for-Profit, which in turn benefits the community I live in with greater affect.
