So he never actually gave them $1 billion, did he?
Seems like his phony-balony wife (Fonda) welched out on some deal similar to that too.
TED'S EXCELLENT DONATION:............1. BY SETTING UP THE TED TURNER FOUNDATION 2. WITH TIME WARNER STOCK IN WHICH HE HAS $15 per share CAPITAL GAINS a. He will save $170,000,000 on capital gains tax b. He will get $396 million back on his income tax, and c. He will save $550 million in estate tax (this is money that his heirs would have to pay the government) BUT HERE IS THE FUN PART! He will liquidate the stock gradually in order to make the gifts. If the stock price doubles in ten years HE CAN GIVE A BILLION DOLLARS TO THE U.N. AND STILL HAVE A BILLION DOLLARS IN HIS FOUNDATION. ...........................................................................................................................................................................Turner has pledged $1 billion in Time-Warner stock at today's value. If the stock price falls, the donation will drop by the same amount, he said; but if the stock price rises, the United Nations won't get more than $100 million a year.