Deaf/Hard of Hearing ping list
with interests in health and society
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.
Deaf/Hard of Hearing ping list
with interests in health and society
That’s what making taxes retroactive is all about, Charlie Brown.
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.
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...
¡Besa mi culo!
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?
Commercial gray, actually. And that was his headquarters...
Dude, I said "Strike three."
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.
One of the well-known products of Sorenson is the videophone used for the deaf and hard of hearing.
Amazing that you all can find something to fear in this man’s incredible generosity.
Amazing that you would post such an insubstantial reply so late in this thread.
Hmm, so posting late in a thread carries a higher burden of substantiality? I’ll keep that in mind.
Yes it does. Just like in real life.
no it doesnt
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.
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