Bill gates: will not pass down fortune to children.

Discussion in 'Wall St. News' started by MohdSalleh, Sep 21, 2010.

  1. Marc Faber said he was talking to Bill at a party and Bill said to him he would move his entire company to Asia tomorrow if it was possible.

    To me that doesnt sounds like a guy who has given up on chasing higher financial rewards.:p
    #31     Sep 22, 2010
  2. tim888


    It will happen one day.
    #32     Sep 22, 2010
  3. I think it is hard to image giving up so much $$$$ for regular folk who frequent ET. Most think that money in itself is IT and cannot understand people like Gates and many before him who after achieving billions decided to spend it on something worthwhile. Perhaps after all the glitz, cars, houses and riches, Bill realized that there is more to life than bling.
    #33     Sep 22, 2010
  4. Global poverty is a never ending story. It does not matter how many billions of dollars you donate to charity. There is not enough money for 7 billion people. Just imagine if there are 7 billion cars on this earth.

    According to UN or World health organization there are 1 billion hungry people. They do not have food to eat. How will you feed 1 billion people?
    #34     Sep 22, 2010
  5. Economic mobility != Social mobility
    #35     Sep 22, 2010

  6. $20 billion may not even be enough to clean the site and compensate those affected
    By the gulf spill.
    Global poverty is a big task for sure.
    #36     Sep 22, 2010
  7. Pekelo


    It happens to almost all really rich people and they want something substantial to leave behind. The Carnegie library system, Frick art collection, Paul Allen's Jimi Hendrix shrine, whatever...

    Poverty itself will always exists, Bill would have been wiser and more patriotic if he donated for job creation or making an institute for the research of alternative energy...
    #37     Sep 22, 2010
  8. jonp


    Agree with most everyone here, old rich people literally do become socialist and manic. I've seen it firsthand twice with people that I know well. His kids will never need to work, and although there's nothing wrong with leaving inheritance to an organization (I'm sure he left his kids an ample amount), the cause he's chasing is clearly impossible, maybe not even beneficial, possibly unpatriotic. Let all that money go to a research institute or a school or something more productive than feeding people who are already diseased and useless to this world. If you want to save them take them out of their corrupt and baron land of Africa and emigrate them all to different countries where they will have a job and some food. Obviously that wouldn't go down too smoothly either. Well some people were born to suffer, someone tell Bill Gates to stop trying to solve the worlds' most ancient problems with a few american dollars. Let him adopt some african children like brangelina and michael jackson.
    #38     Sep 22, 2010
  9. Agreed completely. The best place for all that wealth is as capital in a productive, efficient company that creates jobs and societal wealth. The details of who actually owns the capital doesn't really matter as long as it is used efficiently.

    With rich people, the waste comes in when they decide to consume huge portions of their wealth to satisfy selfish personal desires--such as monstrous homes, 200 ft yachts, etc.

    Warren Buffet, by accumulating enormous wealth and alwasy keeping it working efficiently, without wasting any on superficial consumption, has done more for society than any humanitarian ever could.
    #39     Sep 22, 2010
  10. There are thousands of Verterans who could use some financial help. There are tens, possibly hundreds of thousands of Americans living in abject poverty. Yet this dope chooses to give his money to some corrupt African government which will do nothing but enrich the officals who oppress their people.
    It's painfully obvious that any success Mr. Gates has enjoyed was the result of dumb luck. He has no brains!
    #40     Sep 22, 2010