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Billionaire James Sorenson leaves his [entire] fortune to charity
Deseret Morning News ^ | Monday, Feb. 4, 2008 11:54 a.m. MST | By Jasen Lee

Posted on 02/04/2008 12:08:29 PM PST by Dr. Zzyzx

The family of Utah inventor and billionaire philanthropist James LeVoy Sorenson said today that he willed his entire personal fortune to charity.

Sorenson died of cancer last month at age 86.

Last year, Forbes Magazine estimated his wealth to be approximately $4.5 billion.

Sorenson was known for his numerous medical inventions and successful business endeavors, in addition to his dedication to charitable causes. His son, James Lee Sorenson, said his father had talked about leaving his vast fortune behind to help various worthy causes.

"Over time, particularly the last 10 to 20 years having been successful, he asked himself, 'What is it that I can do with my wealth?' And he came to this conclusion."

James Lee Sorenson said the Sorenson Legacy Foundation will administer and choose which deserving organizations will receive gifts from his father's estate. Previous beneficiaries of gifts from the foundation have included Gallaudet University in Washington, D.C., a college for deaf and hard of hearing students, and the University of Utah.


TOPICS: News/Current Events; US: Utah
KEYWORDS: billionaires; charity; philanthropy
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To: merry10; dmw; RoosterRe; Cinnamon Girl; MinorityRepublican; patriot_wes; SweetCaroline; ...
Previous beneficiaries of gifts from the foundation have included Gallaudet University in Washington, D.C

Deaf/Hard of Hearing ping list
with interests in health and society

61 posted on 02/04/2008 8:26:14 PM PST by wallcrawlr
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To: rogue yam
So you would prefer the Feds confiscate the money of billionaires?
62 posted on 02/04/2008 8:35:34 PM PST by trumandogz
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To: bikerman

That’s what making taxes retroactive is all about, Charlie Brown.


63 posted on 02/04/2008 8:37:43 PM PST by InvisibleChurch (" Nobody likes weepy meat." -- Mayor Quimby)
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To: socialismisinsidious
Much to admire.

I hope you are right that the family can benefit from this setup. I believe firmly in the morality of any legal maneuver that defeats the taxman, but I also think that one's family should come first.

Otherwise it's like leaving your money to General Motors because you liked the guy who sold you your Chevy.

64 posted on 02/04/2008 8:53:21 PM PST by hinckley buzzard
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To: Bloody Sam Roberts

Fed wise it should be down to about 20% this year, under the tax relief passed back in Bush’s first [?] term, the estate tax diminished to 0%, IIRC, by 2010, but then sunsets back to 55% if it isn’t made permanent before then...


65 posted on 02/04/2008 8:57:17 PM PST by Axenolith (Brother, Can you spare a tagline?)
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To: Mr. K

¡Besa mi culo!


66 posted on 02/04/2008 9:00:14 PM PST by SoCal Pubbie
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To: rogue yam

Yeah, he could have left some of it to me. I’m a victim of over-taxation. When do I get some much needed relief?


67 posted on 02/04/2008 9:14:42 PM PST by Pining_4_TX
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To: Inyo-Mono

Commercial gray, actually. And that was his headquarters...


68 posted on 02/04/2008 9:31:13 PM PST by Technocrat (Romney-Thompson 2008)
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To: trumandogz
So you would prefer the Feds confiscate the money of billionaires?

Dude, I said "Strike three."

69 posted on 02/04/2008 9:37:22 PM PST by rogue yam
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To: rogue yam

Okay, just keep the Trumandogz Foundation in mind when you write your will.

I promise that I will do many great things that would meet your approval with your 4.5 Billion.


70 posted on 02/04/2008 10:09:43 PM PST by trumandogz
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To: Bloody Sam Roberts
What is the justification for this tax?

I hear ya. I'm guessing that the only justification is that the person who the money belonged to can no longer complain.
71 posted on 02/05/2008 5:37:11 AM PST by socialismisinsidious ( The socialist income tax system turns US citizens into beggars or quitters!)
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To: wallcrawlr

One of the well-known products of Sorenson is the videophone used for the deaf and hard of hearing.


72 posted on 02/05/2008 8:29:28 AM PST by MinorityRepublican
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To: rogue yam; ckilmer

Amazing that you all can find something to fear in this man’s incredible generosity.


73 posted on 02/05/2008 8:33:15 AM PST by gracesdad
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To: gracesdad

Amazing that you would post such an insubstantial reply so late in this thread.


74 posted on 02/05/2008 9:19:50 AM PST by rogue yam
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To: rogue yam

Hmm, so posting late in a thread carries a higher burden of substantiality? I’ll keep that in mind.


75 posted on 02/05/2008 9:34:22 AM PST by gracesdad
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To: gracesdad

Yes it does. Just like in real life.


76 posted on 02/05/2008 9:38:52 AM PST by rogue yam
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To: gracesdad

no it doesnt


77 posted on 02/05/2008 6:36:08 PM PST by wallcrawlr
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To: rogue yam
Wasn't he a frequent bilderburg attendee?
78 posted on 02/05/2008 6:40:09 PM PST by eyedigress
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To: Technocrat

Thank you. I just got off my Sorenson VRS. Seriously! I was just talking to my daugther at deaf school. You have made life easier for me today. You made my night.


79 posted on 02/07/2008 7:35:22 PM PST by merry10
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