Thirty US billionaires pledge to give away half their fortunes to charity

guardian ^ | 4 August 2010 | Andrew Clark

[JoeProBono]

The world of philanthropy got a huge financial boost today as more than 30 American billionaires pledged to give away at least half of their fortunes to charitable causes, signing up to a campaign launched by Warren Buffett and Bill Gates.

In an unprecedented mass commitment, top figures including New York's mayor Michael Bloomberg, the hotel heir Barron Hilton, CNN media mogul Ted Turner, and the Star Wars director George Lucas lent their names to the "giving pledge", an initiative founded last month to encourage America's richest families to commit money to "society's most pressing problems".

The pledge is not a legally binding contract but is described as a moral commitment. Buffett, the legendary Nebraska-based financier known as the "sage of Omaha", welcomed the influx of support: "At its core, the giving pledge is about asking wealthy families to have important conversations about their wealth and how it will be used. We're delighted that so many people are doing that."

[norraad]

I kinda feel that way, but I’m not sure why, could you elaborate ?

[outpostinmass2]

Yeah I can’t wait. I still remember when Ted Turner donated $1 Billion to the U.N. Talk about gone in 60 seconds.

He would have been better off burning $1 Billion in dollar bills at a coal powered electricity generating plant then giving it to those criminals.

[DaxtonBrown]

Where do I sign up for the gravy train?

[bluecollarman]

Well that’s just silly. They should donate it back into the treasury. Obama knows how to spend it wisely.

[lonestar]

I wouldn't mind giving half away...and still having several billion left. The government is taking a lot anyway.

I would hope they preach that they didn't amass their wealth by being on entitlement programs.

I wonder how many are having a change of lifestyle. Notta!

[Alex Murphy]

What would be the goal of this?

A backdoor way of announcing that changes are afoot for federal deductions on charitable giving.

[N. Theknow]

Speaking of billionaires giving away money; did Ted Turdner ever follow through on his pledge to the UN?

[Pharmboy]

You are most welcome. As I just learned, these were codified by Maimonides.

[cripplecreek]

In this case they’re probably giving 50% to each other and the government will likely match it for another 50% and everybody but the taxpayer is happy.

[angcat]

Rich idiots. I would never give mine away. If I had it that is.

[fml]

According to Loomis, Buffett and Gates, who share a commitment to charity and to the Democratic Party, summoned a group of billionaires to dinner in New York City. David Rockefeller -- whose granddad cornered the market in kerosene, then gasoline – played host and invited this billionaire boys club to share their calling. Two subsequent dinners were held, expanding the group invited to take the plunge to about thirty. Areas of charitable concern shared by America’s very richest, Loomis says, include “education, culture, hospitals and health, the environment, public policy, the poor generally.” Generally. http://www.counterpunch.org/ginsburg08042010.html

Bunch of doubletalking pompous a**es

[Busywhiskers]

“But when you give to the poor, do not let your left hand know what your right hand is doing,so that your giving will be in secret; and your Father who sees what is done in secret will reward you.”

Matthew 6:3,4

[SumProVita]

““But when you give to the poor, do not let your left hand know what your right hand is doing,so that your giving will be in secret; and your Father who sees what is done in secret will reward you.”

Matthew 6:3,4”

This is spiritual truth with regard to such giving. I have to wonder...to WHICH charities will they be giving? Have any of them prayed for direction on this? Am I becoming far too cynical or...?

[freedomfiter2]

By charity they mean they’re going to set up left wing foundations.

[livius]

The big “issue” for all of them is “population control.” So look for Planned Parenthood to become rich beyond its wildest dreams.

I don’t know why it is that the ultra-rich always want to stamp out the very thing that made them rich, other people.

All of the foundations already funded by these men contribute huge amounts of money to things like abortion in Latin America and Africa, deceptively named pro-abortion organizations such as Catholics for a Free Choice, etc.

[Sarajevo]

I’ll believe it when I see it.

[mjp]

more than 30 American billionaires pledged to give away at least half of their fortunes to charitable causes

so that there can be a movement toward the dream or liberals of a utopia of redistributionism with a guaranteed level of wealth for all, and some with more than enough, but no one with too much.

[SumProVita]

Evil becomes more and more blatant, doesn’t it?

[rpierce]

Excellent post! Thanks for making me aware of that list (and Maimonides)

Here's the (slightly different) list from Wikipedia:

Charity (Tzedakah) One of the most widely referred to sections of the Mishneh Torah is the section dealing with Tzedakah. In Hilkhot Matanot Aniyim (Laws about Giving to Poor People), Chapter 10:7-14, Maimonides lists his famous Eight Levels of Giving:

1. Giving an interest-free loan to a person in need, giving a grant to a person in need.
2. Giving tzedakah anonymously to an unknown recipient via a person (or public fund) which is trustworthy, wise, and can perform acts of tzedakah with your money in a most impeccable fashion.
3. Giving tzedakah anonymously to a known recipient.
4. Giving tzedakah publicly to an unknown recipient.
5. Giving tzedakah before being asked.
6. Giving adequately after being asked.
7. Giving willingly, but inadequately.
8. Giving "in sadness" - it is thought that Maimonides was referring to giving because of the sad feelings one might have in seeing people in need (as opposed to giving because it is a religious obligation; giving out of pity).

Source:http://en.wikipedia.org/wiki/Maimonides

[KosmicKitty]

I thought it was Oracle of Omaha.

And how come Bill Gates, with all the money he’s giving away, buy his wife another pants suit?? Every time I see Melinda Gates, she’s wearing the exact same thing.