No, Bill Gates ain't dying, the bitch is just pregnant.
Posted on 07/13/2022 7:27:26 PM PDT by E. Pluribus Unum
Billionaire Microsoft co-founder Bill Gates said Wednesday that he plans to give his wealth to his foundation.
In a Twitter thread that doesn’t allow replies, Gates announced he was transferring $20 billion to the Bill and Melinda Gates Foundation’s endowment this month and will increase spending to $9 billion per year by 2026.
“As I look to the future, I plan to give virtually all of my wealth to the foundation,” Gates wrote. “I will move down and eventually off of the list of the world’s richest people.”
Gates is currently the fourth-richest person on earth and has a net worth of about $129 billion, according to Forbes magazine. Gates has also been characterized as the largest private owner of farmland in the United States, owning over 260,000 acres of land.
“I have an obligation to return my resources to society in ways that have the greatest impact for reducing suffering and improving lives,” Gates added on Twitter. “And I hope others in positions of great wealth and privilege will step up in this moment too.”
According to FoundationSource, private foundations such as the Bill and Melinda Gates Foundation are classified as tax-exempt 501(c)(3) organizations by the Internal Revenue Service. They are not subject to either federal or state estate taxes.
“Being self-funded is an advantage, enabling foundations to avoid the IRS tests that are required of public charities. Although not prohibited from doing so, private foundations do not typically engage in fundraising,” the website says.
Bill Gates, Melinda French Gates, and Warren Buffett founded the Giving Pledge about 12 years ago, asking wealthy individuals to commit to donating more than half their fortunes to various causes. In his Twitter thread, Gates also thanked Buffett—also one of the richest people in the world—for donating to the Bill and Melinda Gates Foundation in recent years.
Farmland Purchase In recent days, Gates has courted controversy in North Dakota after a Gates-associated entity, Red River Trust, purchased 2,100 acres of farmland in the state for $13.5 million. But on June 29, North Dakota’s attorney general cleared the sale of the land after finding that it complies with state laws.
“I’ve gotten a big earful on this from clear across the state, it’s not even from that neighborhood,” Doug Goehring, the state agricultural commissioner, told local media. “Those people are upset, but there are others that are just livid about this.”
When asked about why he purchased so much farmland in recent years during a Reddit thread, Gates said that “my investment group chose to do this. It is not connected to climate.”
“The agriculture sector is important. With more productive seeds we can avoid deforestation and help Africa deal with the climate difficulty they already face. It is unclear how cheap biofuels can be but if they are cheap it can solve the aviation and truck emissions,” Gates said.
His delivery is…. well…. Interesting, but Alex Jones has been far more right than wrong. He was calling most of this 20+ years ago.
No, Bill Gates ain't dying, the bitch is just pregnant.
I was just going to say, when one gives away their possessions, they are planning a Darwin Award winning exit.
I concur 100%. Started finding those old clips and wow!
He will control the money in the foundation. Pure virtue signaling.
If he wants to REALLY do something, promise every kid in Alabama or Mississippi or some other impoverished state that he will pay for college for every child making straight “A”s in school.
Oh great. He’ll give it to a congregation at his church of the
Open Constitutional Rights Deniers.
Who is he kidding?
We’re still dealing with the likes of the Ford Foundation and
other Communist leaning enterprises.
If done with a residual trust, your estate and anything earned on it becomes essentially tax free. All the smart wealthy people do it. It’s how they don’t pay taxes and pass thier wealth onto thier kids. Do you really think they pay the highest tax rate?
Which almost entirely goes to other nations. ( I looked it up)
For those who don’t know, foundations are a tax shelter for the very wealthy. Giving “donations” to their foundation protects those funds from a variety of taxes, including income taxes, estate taxes, gift taxes, and capital gains, among other benefits.
Change the tax laws to prevent this. Non-profit institutions are the last untaxed part of our society. They should all be taxed!
The Ford Family has had nothing to do with the Ford Foundation since about 1966.
“...the greatest impact for reducing suffering and improving lives...”
Would that include the elimination of the Blue Screen of Death?
‘Sounds like a great inheritance tax dodge !’
Just as anyone of us would do, and every American should do and that’s to find a tax dodge to keep your hard earned cash aways from the Feds.
Good for Gates.
“Can a Trust Protect Assets from a Lawsuit?”
“In October 2006, the Bill & Melinda Gates Foundation was split into two entities: the Bill & Melinda Gates Foundation Trust, which manages the endowment assets and the Bill & Melinda Gates Foundation, which “... conducts all operations and grantmaking work, and it is the entity from which all grants are made”...” https://en.wikipedia.org/wiki/Bill_%26_Melinda_Gates_Foundation
https://www.assetprotectionplanners.com/asset-protection-trust/lawsuit/
Didn’t Asimov write about this?
only a
five year old
believes any of this
Yuge tax dodge...
Translation..... IT’S ALL MINE....Bitches.
Must be hard for him to watch his ex-wife cuckold by another dude, and spend huge sims of his wealth without care of his wishes.
Melinda gates emasculated Bill more than anyone ever could.
She probably has his manhood still in her handbag.
Anyone who establishes a foundation after their death should make sure it has an expiration date to it, no longer than 20 years.
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