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[Cyan]

Why dont these ultra rich people donate all this money NOW, instead of some indeterminate future. If you have 800 million why cant you donate 10 million a year?

Its not like any human being need a billion dollars to live

Typically they do. Tim Cook gave away $100 MM a year or two ago. Bill Gates has already given out a major chunk of his fortune to start his foundation. etc.

What this pledge is about is giving your fortune to charity on your death, rather than turning it into dynastic wealth.

 

[DOWN]

Don't pledge to give it away, what kind of bollocks is that? Start now, you got so much that you could give away most of it and it would make no difference to your life.

He will have much more to give away if he waits, but he's stated to have privately been giving presently as well and is just not very public about it.

 

[Mineshaft_Gap]

Use the money to fund suicide hotlines for your overseas slave laborers, you fuck.

 

[aygomyownroad]

If you can afford it then good on you. I won't be able to afford millions when I die but I will he donating some of my future estate to charity.
Its not a competition, but good on him donating his wealth.

No matter how small a donation we can all help others. This is the key issue of this story is to get exposure to leave your money to charity and help others

 

[Meicyn]

It is incredible how someone can pledge a crapload of money to charity without any strings attached, and you can generate a thread full of bitchy people who are unhappy because the pledge isn't meeting their arbitrary terms on how someone else's money should be donated.

 

[Orbis Tabula]

Good for him. The more people that do this, the better.

 

[Cybrwzrd]

Good for Tim, but it is still a drop in the bucket compared to the cash reserves that his company is hording and preventing from being used. Apple could literally take the interest (7%) on their cash reserves of 155-170 billion dollars and employ 250k people 50k/year to do absolutely nothing and not deplete their cash reserves.

 

[NZOO]

I've yet to see a majority of their money in action.

 

[retrogamer84]

I was going to say that it sucks for the kids, but I see he has none. Good for him for doing something positive with his money.

 

[entremet]

I've yet to see a majority of their money in action.

Why would you see it? A lot of it going to the 3rd world.

 

[YoungHav]

Charities will just skim $$$ off the top. Why not start your own charitable organization or give $ directly to the X most poorest families in America?

 

[Not]

I think everyone should do this. Wills are kinda messed up IMO.

and by "this" I mean ^^^^^^^ the post above mine. we should have a way to give directly to the poorest families.

 

[Ominym]

It is incredible how someone can pledge a crapload of money to charity without any strings attached, and you can generate a thread full of bitchy people who are unhappy because the pledge isn't meeting their arbitrary terms on how someone else's money should be donated.

Can't have a thread on the internet about money without someone else telling you how to spend it.

 

[Cyan]

I think everyone should do this. Wills are kinda messed up IMO.

and by "this" I mean ^^^^^^^ the post above mine. we should have a way to give directly to the poorest families.

https://www.givedirectly.org/

 

[BobLoblaw]

I'm really glad some of these extremely wealthy people are willing to do this. Says a lot about who they are. I just hope that the charities they leave their money to view their money in the same manner.

 

[Interframe]

Didn't Steve own 4 Mercedes AMG models? I wouldn't consider that the same as living a frugal life.

I don't think he owned those cars necessarily because he was rich and to show off, he just loved being surrounded by the best possibly designed products one could use, as a product guy himself.

 

[Guevara]

I just wish these big companies were as magnanimous about repatriating corporate cash and paying taxes. Tax revenue does a lot of great things too, you know.

 

[Flo_Evans]

I just don't understand the motivations of some people like this.

Like once I get past 100mil I am done working for life.

IDK running the richest company on earth could give you a boner for awhile but if you are not going to buy mansions and fast cars whats the point of accumulating that much wealth?

I guess build up more to give away. Just seems kind of pointless to me. Like I can see if your job really is your passion but hawking consumer electronics?

If I was Tim cook right now I would just retire and build robots and make them fight each other and put it on youtube.

 

[Cyan]

I just wish these big companies were as magnanimous about repatriating corporate cash and paying taxes. Tax revenue does a lot of great things too, you know.

Publicly-traded companies essentially can't be magnanimous. Tim Cook can give away his personal fortune all he wants, but the minute he starts being magnanimous with Apple's money, the shareholders will be after his head.

 

[legbone]

man, that's cool. wish my name was charity. seriously tim if you are reading this i could use like 50k tops to fix my life. oh well, now where did i put those bootstraps?

 

[Mato]

Post death? Some of these guys might not even get to die, transhumanism and all.

 

[jstripes]

To be fair to Jobs he did give tons to charity. He just refused to tell anyone when he was alive:
http://mobile.news.com.au/finance/m...not-doing-enough/story-e6frfmd9-1226650636880

That's the thing. He didn't want people to base their opinion of him on how much money he gave to charity. It was no one's business.

Too many public figures use charity as good PR. Smile for the camera, hand over an oversized cheque.

 

[Not]

https://www.givedirectly.org/

lol awesome. I will keep this on my radar

 

[mackaveli]

Good for Tim, but it is still a drop in the bucket compared to the cash reserves that his company is hording and preventing from being used. Apple could literally take the interest (7%) on their cash reserves of 155-170 billion dollars and employ 250k people 50k/year to do absolutely nothing and not deplete their cash reserves.

Where do you get 7% from?

 

[King_Moc]

Good man. I don't believe in forced 100% inheritance tax, but it's great when people do it.

 

[King_Moc]

Charities will just skim $$$ off the top. Why not start your own charitable organization or give $ directly to the X most poorest families in America?

It's incredibly hard to do this without literally travelling to each individual family in person to hand them the money. Typically, the governments of these countries are corrupt in the extreme, and the money won't get to it's intended destination without you taking it yourself. I'm in a charity organisation and we ran into this problem when trying to help with schools in Jamaica.

 

[speculawyer]

Can't take it with you.

 

[AngryMoth]

Good on him. You've kind of got to be an aresehole I think if you're a billionaire and you don't leave most of you're money to charity

 

[Cyan]

lol awesome. I will keep this on my radar

It's a great charity; on my regular donation list.

 

[subrock]

Bravo Tim. I'm glad at least some people with money have hearts

 

[Air]

Tim just seems like a really great guy to be around.

 

[sant]

Didn't Steve own 4 Mercedes AMG models? I wouldn't consider that the same as living a frugal life.

When you're a billionaire that is being frugal. Students at my university drive Mercedes and BMWs

 

[sant]

I just don't understand the motivations of some people like this.

Like once I get past 100mil I am done working for life.

IDK running the richest company on earth could give you a boner for awhile but if you are not going to buy mansions and fast cars whats the point of accumulating that much wealth?

I guess build up more to give away. Just seems kind of pointless to me. Like I can see if your job really is your passion but hawking consumer electronics?

If I was Tim cook right now I would just retire and build robots and make them fight each other and put it on youtube.

People that successful enjoy working, that's why they made it

 

[TheJLC]

That's dumb, why not just give it to me?

 

[3N16MA]

That's a surprisingly low net worth for the CEO of Apple actually.

But still, awesome. Good to see more people signing 'The Giving Pledge' or equivalent.

Not really. He is not a founding member and was a Senior Vice President before coming CEO.

 

[Warm Machine]

Use the money to fund suicide hotlines for your overseas slave laborers, you fuck.

Technically Foxxcon has a lower suicide rate per capita than Canada.

 

[Jimrpg]

Why dont these ultra rich people donate all this money NOW, instead of some indeterminate future. If you have 800 million why cant you donate 10 million a year?

Its not like any human being need a billion dollars to live

They probably do they just don't need to say it all the time.

 

[Bessy67]

Nice gesture I guess, but if you're just going to give away all your money anyways why are you drawing such an exorbitant salary? Like, pay your employees more or make your products cheaper...

 

[Frosty Droid]

They probably do they just don't need to say it all the time.

Actually the wealthy give a lower portion of their income to charity than middle and working class folks.

 

[GK86]

Mad respect to him.

 

[Stumpokapow]

Nice gesture I guess, but if you're just going to give away all your money anyways why are you drawing such an exorbitant salary? Like, pay your employees more or make your products cheaper...

If Tim Cook didn't take any compensation at all this year, and all of that money was reinvested in making Apple's products cheaper, the average iPhone would be 52 cents cheaper if you did not give any discount to the iPad or Macs. If you wanted to share the discount across iPhones, iPads, Macs, and Apple TVs, the average product would be 35 cents cheaper. Does this seem like something that's going to make a difference?

 

[soul creator]

I'd actually recommend taking a huge chunk, and buying off enough politicians to implement some liberal ass policies.

Don't just give it to a charity that helps the sick, give it to some crooked politicians on the condition that they'll pass single-payer health insurance!

 

[Stumpokapow]

I'd actually recommend taking a huge chunk, and buying off enough politicians to implement some liberal ass policies.

Don't just give it to a charity that helps the sick, give it to some crooked politicians on the condition that they'll pass single-payer health insurance!

If a billion dollars could buy off enough politicians to swing policy, then 1,600+ other people could do the same thing, most in a more conservative direction than him. Why is there so little money in politics?

 

[soul creator]

If a billion dollars could buy off enough politicians to swing policy, then 1,600+ other people could do the same thing, most in a more conservative direction than him. Why is there so little money in politics?

damnit

My dream of corporations and liberal rich CEOs playing the dirty politics game better than US conservatives remains just a dream...

 

[Stumpokapow]

damnit

My dream of corporations and liberal rich CEOs playing the dirty politics game better than US conservatives remains just a dream...

 

[Flo_Evans]

People that successful enjoy working, that's why they made it

Are you calling me lazy?!

 

[giga]

Terrible waste of money. Should've invested it in Blackberry and saved all those jobs in Waterloo.

 

[MutFox]

Good, nice change from what Jobs was.

 

[jediyoshi]

Why dont these ultra rich people donate all this money NOW, instead of some indeterminate future.

Because then you're essentially wasting money. If you can decrypt more efficient, effective ways for money to be utilized, then things work out better in the long run. The end means isn't simply funding existing programs and organizations.

 

[Mammoth Jones]

Good.

At the end of the game the king and the pawn go back into the same box..