What do people do with all this money? This isn't a rhetorical question; I'd really like to know what these people intend to do with such fortunes. I assume part of it is really stocks, and so it's company worth rather than personal worth, but still, I can't see ever needing more than, say, $2-3 million over the course of my entire life.
Now three girls at once? I'm still looking. I keep it on my christmas list, but my roommates keep telling me they can't find another girl whose worthy;-{
1. House 2. People to take care of house(inside and out) 3. People to take care of money 4. Lawyers 5. People to take care of kids 6. Material things(jets, boats, cars) 7. Food(200-300 a day could be easily spent on one person) 8. List goes on.
But I think Gates really does give alot away, granted he has alot to give away. Sorry no link.
Interestingly enough Bill G. has more than twice what Paul Allen has in his piggy bank, but Paul Allen seems to be in the newspaper around here(Pacific Northwest) a lot more than Bill. Usually, it's either because he owns the Portland Trailblazers, or it's because he gave a bunch of money to some random charity. He seems like a really good guy.
So I'm guessing hes given around 0.1% of his wealth away. The guy gives away millions but has almost 50 billion dollars, am I supposed to be impressed? I'd be impressed if the man gave away a few billion dollars at a time and not in stupid ways. When he spends money on schools I'm impressed when he actually builds a school, but usually he does not build a school, usually he just donates Microsoft products (big deal) to schools.
Bill Gates does give stuff, but not as much as he should. Ted Turner gives more
So I'm guessing hes given around 0.1% of his wealth away.
Try about 60%. There was a Businessweek article in December 2002 that ranked the biggest philanthropists in the world [businessweek.com] (not sure if non-subscribers can read this article from the archives) -- he's ranked #1 in terms of amounts given. My eyeball estimate is that he's #6 in terms of percentage of wealth given (which is somewhat misleading, since Gordon Moore and James Stowers apparently committed more money than they were worth, and so would be ranked #1 and #2 in terms of percentage).
I'd be impressed if the man gave away a few billion dollars at a time and not in stupid ways. When he spends money on schools I'm impressed when he actually builds a school, but usually he does not build a school, usually he just donates Microsoft products (big deal) to schools.
Gates's main focus is eradicating diseases in developing countries. Yeah, that's really stupid. He has also given the largest single private grant in history [nptimes.com] -- for a global vaccine program. Again, very stupid. Whatever.
BTW, Larry Ellison (Oracle) is ranked #1 for biggest cheapskate [businessweek.com] -- he has given away 0.4% of his worth. Steve Ballmer is the 5th biggest cheapskate. And, to me, worst of all, given who he is and what he stands for for so many people, Warren Buffett is the 6th biggest cheapskate -- he's given away only $230 million of his $36 billion.
Well, he didn't write one big check for $25 billion. He's been steadily giving it away for quite a while now. His % ownership of MSFT has gone way, way down in the last 10 years. Why do you think this would make huge headlines? Maybe you have to flip past the front page to read about it. Is Salon [salon.com] bribed or paid for? How about the BBC [bbc.co.uk]? What kind of proof would satisfy you?
HeHe this interesting epople around here hate Gates yet he has donated alot of his money.
Their Reaction? I want proof, proof, proof!!
Oh you have proof? Well then....it's all blood money anyway! Kill Gates! Kill Gates!
People who used M$ are losers and too stupid to use computers. And, and I hate the world!... and I hate rich people!... I have to go to detention tomorrow at my junior high at that sucks man.
But I think Gates really does give alot away, granted he has alot to give away.
Quicky google:
Bill gates donates:
$100 Million Aids,
$20 million for new LCS building,
$37 Million to Combat Hepatitis B in China
$51m to schools
$25M for AIDS vaccine
1 billion to quake fund
$3.34 billion to charities that help fund health and education projects worldwide... this is over the last 4 years and equals about
10% of his total wealth.
That means if he continues at the same rate he'll have given away most of his w
Didn't he say he was planning on giving most of it away by the time he's dead and leaving just $1 millon per dependent (though they may not be so dependent by that time)?
If you look at it this way Bill Gates is almost a modern day Robinhood. Stealing from the rich (via the MS tax - anyone who can afford a PC must at least be above the proverty line) and giving to the poor
The more money you have, the more you can imagine spending money on. You and I never think about buying our own private luxury yacht, complete with crew, helicopter, etc., because it's so beyond what we can afford. When, however, you look at your bank balance and realise that you can, but you just need to double your estate to make it worthwhile...
well you only have so much time in a day so not everyone wants to spend money on junk.
I myself would personally spend my money going out to parties, hanging with girls, hosting parties at my mansion, you know like Mr.Hefner.
I'd use my money to surround myself with ladies and party. I could do that at home and it wouldnt really cost alot of money, I could be set with just a billion dollars, hell I could be set with 100 million.
I'm sure anyone could think of ways to spend more than that... I mean think about it. Would you like a house on South Beach? Another one in Greece? Maids for both? A Delorian? A yacht? A yacht for your maids? A small fleet of luxury airplanes? A large reputable university? A President? A cure for AIDS? A solution to world hunger?
Any one can give out any amount of money. Because in fact money is not really paper bills, but rather power to do as you please.
Bill Gates is giving away quite a lot, and he built a new house and I am sure he doesn't eat cheap pasta with cheap ketchup every day. Paul Allen is a co-founder of a new super radio telescope, that will be used for SETI and other projects. He is also rumoured to be funding the Scaled Composites space project.
yes, bill gates is giving away computers running windows w/o giving free updates for life. so he's really just making another future revenue stream, isn't he?
How about becoming the biggest philanthropist ever. Do a little digging and you'll find Bill Gates has and will be giving away a lot of his fortune. Checkout this http://www.techweb.com/tech/opinion_mad/20030314_m ad . Say what you will about his business practices and products ( Lord knows you guys already have) but giving away 95% of your wealth isn't all that bad, is it?
Ah, but he isn't giving away 95% of his wealth. Or at least, not in the straightforward sense of the phrase.
He's actually investing 95% of his wealth in "foundations". The foundations then invest the money in places like the stock market. The profits they make from other people then get spent on charity.
So none of Gates' money actually gets given away. It stays with the foundation. It's just leverage to extract charity funds from other people.
The problem with property rights is that they start where the rich define them.
The richest family in my province, last I heard anyway, is in the cattle business. They own hundreds of thousands of acres of grazing land.
What did they pay for it? Nothing. They came along and put up a fence around it. Why do they own that land? Why could the governments of the time parcel out the whole of North America, despite the fact that there were people here, and expect that those "property rights" would be respected?
Look, society enforces and protects property rights, against foreign AND domestic transgresion. I mean, police exist in large part to protect property rights, as does the military. You point about the initial land rights is valid, but somewhat irrelevant. I suggest that property taxes is a better tax system than income taxes.
Income taxes don't "tax the rich," they tax the prosperous, that's an IMPORTANT difference. The "rich" don't want a free economy. The rich want a system that
What do people do with all this money? This isn't a rhetorical question; I'd really like to know what these people intend to do with such fortunes. I assume part of it is really stocks, and so it's company worth rather than personal worth, but still, I can't see ever needing more than, say, $2-3 million over the course of my entire life.
You obviously don't live in the San Francisco Bay Area. A nice (but not extravagant) house in a good neighaborhood will set you back $1 million and it you'd be supprise
Technically you can live very comfortably on $25k/year. It all depends on how you want to live. Are you happy making dinner every night, renting a house (or buying a small house), and driving a Honda Civic. Or do you need to eat at fancy restaurants, have a couple of sports cars (and an SUV of course) and need a large house in an upscale neighborhood?
What we WANT drives what we consider comfortable, and some people will never be happy because there is always more stuff to buy. Unfortunatly many people find they are not happy in life and think if they could just buy a better car, or a bigger house, or a few more computer parts then they would be happy. Of course that never works. It really is no different with the middle class or the super rich.
They invest it actually....
Most of BillG's wealth is in MS stock.
And at that point, you can invest in things because you want them to succeed, not because they seem like terriffically viable business propositions.
Just wait... If you have the money, will you want your kids to go to the public schools? And even if you do, what will your wife say? Okay, now you're spending $20K - $30K per year for their education. If you've got millions in the bank, will you and your wife still be satisfied in your 1800 SF house? Suddenly, you're looking at $500K (or in some areas, $1000K) houses. Are you going to stick your old 'student' furniture in your new McMansion? Better head over to Ethan Allen to get some nice pieces at
Since you're serious, you should put on your thinking cap and figure it out. Assuming this is net worth and these people draw only a few million in cash per year out of their nest egg, here's some ideas to get you started. I'm assuming they actually want to continue working full time at their job rather than take the lottery-winner's fantasy road of never working again:
Buy free time by hiring professional servants to do all your mundane chores. Driving, laundry, c
Million-dollar crack rock, expensive women (whores and otherwise), expensive mansions, etc. etc.
Having practically infinite spending power would fuck with your head, I think. You'd lose all grasp of what value is, and how much a 10 spot is actually worth. You could literally burn money to stay warm with that much cash. Meanwhile, these guy's weekly (maybe daily?) income is probably larger than the annual budget for some small countries.
"Be there. Aloha."
-- Steve McGarret, _Hawaii Five-Oh_
I've always wondered... (Score:5, Interesting)
What do people do with all this money? This isn't a rhetorical question; I'd really like to know what these people intend to do with such fortunes. I assume part of it is really stocks, and so it's company worth rather than personal worth, but still, I can't see ever needing more than, say, $2-3 million over the course of my entire life.
Re:I've always wondered... (Score:2, Interesting)
Really mees up thier children's world view.
Re:I've always wondered... (Score:1)
I'll tell you what I would do with all that money. (Score:5, Funny)
Re:I'll tell you what I would do with all that mon (Score:2)
Now three girls at once? I'm still looking. I keep it on my christmas list, but my roommates keep telling me they can't find another girl whose worthy
Re:I'll tell you what I would do with all that mon (Score:1)
Re:I've always wondered... (Score:2)
But other places to spend:
1. House
2. People to take care of house(inside and out)
3. People to take care of money
4. Lawyers
5. People to take care of kids
6. Material things(jets, boats, cars)
7. Food(200-300 a day could be easily spent on one person)
8. List goes on.
But I think Gates really does give alot away, granted he has alot to give away. Sorry no link.
Re:I've always wondered... (Score:2)
Gates has given Millions of dollars away. (Score:1)
So I'm guessing hes given around 0.1% of his wealth away. The guy gives away millions but has almost 50 billion dollars, am I supposed to be impressed? I'd be impressed if the man gave away a few billion dollars at a time and not in stupid ways. When he spends money on schools I'm impressed when he actually builds a school, but usually he does not build a school, usually he just donates Microsoft products (big deal) to schools.
Bill Gates does give stuff, but not as much as he should. Ted Turner gives more
The Biggest Philanthropists (Score:4, Informative)
Try about 60%. There was a Businessweek article in December 2002 that ranked the biggest philanthropists in the world [businessweek.com] (not sure if non-subscribers can read this article from the archives) -- he's ranked #1 in terms of amounts given. My eyeball estimate is that he's #6 in terms of percentage of wealth given (which is somewhat misleading, since Gordon Moore and James Stowers apparently committed more money than they were worth, and so would be ranked #1 and #2 in terms of percentage).
I'd be impressed if the man gave away a few billion dollars at a time and not in stupid ways. When he spends money on schools I'm impressed when he actually builds a school, but usually he does not build a school, usually he just donates Microsoft products (big deal) to schools.
Gates's main focus is eradicating diseases in developing countries. Yeah, that's really stupid. He has also given the largest single private grant in history [nptimes.com] -- for a global vaccine program. Again, very stupid. Whatever.
BTW, Larry Ellison (Oracle) is ranked #1 for biggest cheapskate [businessweek.com] -- he has given away 0.4% of his worth. Steve Ballmer is the 5th biggest cheapskate. And, to me, worst of all, given who he is and what he stands for for so many people, Warren Buffett is the 6th biggest cheapskate -- he's given away only $230 million of his $36 billion.
Re:The Biggest Philanthropists (Score:1)
Re:The Biggest Philanthropists (Score:2)
Their Reaction? I want proof, proof, proof!!
Oh you have proof? Well then
Kill Gates! Kill Gates!
People who used M$ are losers and too stupid to use computers. And, and I hate the world!
I have to go to detention tomorrow at my junior high at that sucks man.
Re:I've always wondered... (Score:2)
Re:I've always wondered... (Score:2, Interesting)
Re:I've always wondered... (Score:2)
Re:I've always wondered... (Score:3, Interesting)
The more money you have, the more you can imagine spending money on. You and I never think about buying our own private luxury yacht, complete with crew, helicopter, etc., because it's so beyond what we can afford. When, however, you look at your bank balance and realise that you can, but you just need to double your estate to make it worthwhile...
Re:I've always wondered... (Score:1)
well you only have so much time in a day so not everyone wants to spend money on junk.
I myself would personally spend my money going out to parties, hanging with girls, hosting parties at my mansion, you know like Mr.Hefner.
I'd use my money to surround myself with ladies and party. I could do that at home and it wouldnt really cost alot of money, I could be set with just a billion dollars, hell I could be set with 100 million.
Re:I've always wondered... (Score:4, Interesting)
Any one can give out any amount of money. Because in fact money is not really paper bills, but rather power to do as you please.
Re:I've always wondered... (Score:1)
But you'd never even use all the stuff you buy, at some point you have to give the money away.
I could only spend maybe a hundred million or so and thats my limits. I'd buy everyone in my family a house, I'd buy myself a house, and then what?
The rest of my time would be spent partying or traveling around giving money away.
Re:I've always wondered... (Score:2)
Spend it, frivously.
Think $100 hamburgers and $150 martinis.
Think walking away from a blackjack table after losing hundreds of thousands of dollars.
Think paying someone hundreds of dollars an hour to do your hair.
Think dozens of cars.
Etc.
Re:I've always wondered... (Score:2)
Re:I've always wondered... (Score:1, Interesting)
Re:I've always wondered... (Score:2)
What do you think they will do with it? (Score:1)
They will put it in the bank and save it!
Why do you ask stupid questions? You know damn well Bill Gates isnt the richest man in the world because he actually spends his money.
Re:I've always wondered... (Score:1)
Re:I've always wondered... (Score:2)
He's actually investing 95% of his wealth in "foundations". The foundations then invest the money in places like the stock market. The profits they make from other people then get spent on charity.
So none of Gates' money actually gets given away. It stays with the foundation. It's just leverage to extract charity funds from other people.
Invest it (Score:2)
If the people are smart, their net worth increases over time.
If not, they lost money, and the money flows to people with a better use of that capital.
That money is used to create and expand businesses, loan money to governments, loan money to businesses, etc.
That's how the economy works. Those with capital (from production or from investments of previous produc
Re:Invest it (Score:2)
The richest family in my province, last I heard anyway, is in the cattle business. They own hundreds of thousands of acres of grazing land.
What did they pay for it? Nothing. They came along and put up a fence around it. Why do they own that land? Why could the governments of the time parcel out the whole of North America, despite the fact that there were people here, and expect that those "property rights" would be respected?
A
Property Rights and Taxes (Score:2)
Look, society enforces and protects property rights, against foreign AND domestic transgresion. I mean, police exist in large part to protect property rights, as does the military. You point about the initial land rights is valid, but somewhat irrelevant. I suggest that property taxes is a better tax system than income taxes.
Income taxes don't "tax the rich," they tax the prosperous, that's an IMPORTANT difference. The "rich" don't want a free economy. The rich want a system that
Re:I've always wondered... (Score:3, Insightful)
Mostly, wealthy people give their money away. Heard of Carnegie Hall?
Re:I've always wondered... (Score:1)
What do people do with all this money? This isn't a rhetorical question; I'd really like to know what these people intend to do with such fortunes. I assume part of it is really stocks, and so it's company worth rather than personal worth, but still, I can't see ever needing more than, say, $2-3 million over the course of my entire life.
You obviously don't live in the San Francisco Bay Area. A nice (but not extravagant) house in a good neighaborhood will set you back $1 million and it you'd be supprise
Re:I've always wondered... (Score:1)
Re:I've always wondered... (Score:5, Insightful)
What we WANT drives what we consider comfortable, and some people will never be happy because there is always more stuff to buy. Unfortunatly many people find they are not happy in life and think if they could just buy a better car, or a bigger house, or a few more computer parts then they would be happy. Of course that never works. It really is no different with the middle class or the super rich.
Finkployd
Re:I've always wondered... (Score:2)
Re:I've always wondered... (Score:2)
I think I've heard the likes of this before. Guess Bill knows this limit doesn't hold. 8-)
Re:I've always wondered... (Score:2)
Wife and kids (Score:2)
Re:I've always wondered... (Score:1)
Since you're serious, you should put on your thinking cap and figure it out. Assuming this is net worth and these people draw only a few million in cash per year out of their nest egg, here's some ideas to get you started. I'm assuming they actually want to continue working full time at their job rather than take the lottery-winner's fantasy road of never working again:
Re:I've always wondered... (Score:2)
Having practically infinite spending power would fuck with your head, I think. You'd lose all grasp of what value is, and how much a 10 spot is actually worth. You could literally burn money to stay warm with that much cash. Meanwhile, these guy's weekly (maybe daily?) income is probably larger than the annual budget for some small countries.