The rich gives to the ????

Discussion in 'Community Discussion' started by iSaint, Jun 25, 2006.

  1. iSaint macrumors 603

    iSaint

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    #1
    Warren Buffet is going to give all of his money away.

    Front page at CNN.

    Has Bono talked to this guy? $40B US could go a long way to AIDS research and hunger in Africa!
     
  2. iGary Guest

    iGary

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    #2
    He must be sick - he originally said he would not give away his money until he died. Most of it is going to the Billy and Melinda Gates Foundation.
     
  3. Chundles macrumors G4

    Chundles

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    #3
    US$40B would go really well helping Africa and AIDS and hunger and all that.

    So would US$39.9B, I could put 100 million US dollars to pretty good use :D ;)
     
  4. ham_man macrumors 68020

    ham_man

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  5. eva01 macrumors 601

    eva01

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    #5
    i am expecting at least a million out of this

    Or at the very least donate some money to Jordan Hospital so we can redo the Maternity Ward
     
  6. dmw007 macrumors G4

    dmw007

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    #6

    So could I! :D
     
  7. Ugg macrumors 68000

    Ugg

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    #7
    Actually, the Gates Foundation focuses on Africa. Bill Clinton's foundation has teamed up with Billy G. on a number of AIDS issues and Gates is really focused on finding new treatments for Malaria and other diseases that the drug companies won't.

    This is great news and Warren Buffett is one of the few people I can truly say I respect unconditionally.
     
  8. w_parietti22 macrumors 68020

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    #8
    hey! the Bill and Melinda Gates Foundation is a great foundation... even if it was started by the founder of MS.
     
  9. iSaint thread starter macrumors 603

    iSaint

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    #9
    Malaria can be greatly reduced by having a cleaner lifestyle, etc. I'm guessing anyway...

    I just can't fathom that much money in a foundation. I mean, they have to spend some of that! I would imagine they could have a huge impact above and beyond what they are already doing in the US and the world.
     
  10. Mechcozmo macrumors 603

    Mechcozmo

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    #10
    Good for him. There are far worse places for that money to go. Glad to hear that he is putting those billions to use. Can't take it with you.

    That said, this seems more like an old man's final wish more than something done, "from the goodness of your heart," as a few billion of that could have been spent over the preceding years.
     
  11. angelneo macrumors 68000

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    That's a crapload of money, I hope they use it wisely, people tends to spend without any thoughts when there is so much money in one place.

    EDIT:
    I think iGary is just talking about why Warren Buffett changed his mind, not the foundation he is donating to.
     
  12. kretzy macrumors 604

    kretzy

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    #12
    I've always thought it would be really nice if all of these extremely rich people would give everyone on the planet a billion dollars - they have the ability to do it. Somehow, I think the effect on the global economy wouldn't be that great though. :(
     
  13. gauchogolfer macrumors 603

    gauchogolfer

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    #13
    To be fair, by him giving away his fortune, almost all of which is in Berkshire Hathaway stock, he's also committing his company and shareholders to the same sort of philanthropy. It's not something that he can just do unilaterally with no consideration of the effect on the other 70% of his company (he owns roughly 30% of BH stock). If these foundations start selling off the stock he gives them, that could have a negative effect on the price.
     
  14. MongoTheGeek macrumors 68040

    MongoTheGeek

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    #14
    The easiest way to stop malaria is to re-legalize DDT.

    Yes it is a lot of money for a foundation but that is probably one of the reasons he picked the gates foundation. It makes him the second largest donor.

    True. That is one of the things holding Hershey foods back. Their largest shareholder is the Milton Hershey School

    Berkshire stock is highly sought out after though and people who own it tend not to sell it. As long as Warren Buffet is still at the helm the price won't fall precipitously which could be the reason that he is selling now rather than later.
     
  15. iGary Guest

    iGary

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    #15
    Where did I say it was a bad organization? :confused:
     
  16. Ugg macrumors 68000

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    #16
    He's giving them 5% of the total every July. That means roughly $1.85 billion per year over a 20 year span. ALL of the money he gives them needs to be spent the year it is received and Bill and Melinda need to remain at the helm of the Foundation in order for it to receive the gift.

    Malaria is carried by mosquitoes which are ubiquitous in many parts of the world. I'm not sure what you mean by a "cleaner" lifestyle but an individual's lifestyle has little to do with the chance of contracting malaria.

    Many strains of malaria are becoming resistant to the most commonly used drugs. Even the old standby quinine, is more or less useless in many areas. Since it's almost impossible to eradicate mosquito breeding areas in the tropics, it's imperative that a low cost drug be developed to fight the disease.
     
  17. WildCowboy Administrator/Editor

    WildCowboy

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    #17
    A friend of mine founded Amyris Biotechnologies a few years back. In collaboration with UC Berkeley and the Institute for One World Health (a non-profit drug company), they've made tremendous strides in malaria treatments. The $43 million grant they received from the Gates Foundation certainly helped. I'm definitely looking forward to see what the Gates Foundation can do with the Buffett capital behind it. They've essentially doubled the size of what was already the world's largest philanthropic organization.
     
  18. benthewraith macrumors 68040

    benthewraith

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    #18
    While I agree and sympathise with the ideals of the One Campaign, I hate giving my money to such campaigns that will only serve to give money to corrupt African dictators that will pocket the money in their Swiss Bank Accounts. I think the objectives of the One campaign are to encourage and pay stable nations to airdrop food and medical supplies into impoverished regions and less stable nations rather than give money directly to corrupt dictatorial governments on the prayful chance that they'll actually give food to the starving. :rolleyes:

    As for AIDS research, producing a better countermeasure for trying to get the Immune System to stay strong is a must. However, we should be trying to prevent the spread of the disease as much as trying to find a way to keep the Immune System strong. There can never be a cure because the virus changes it's protein coat so easily that the Immune System can't get ahold of it. :( It's the same reason there isn't yet to be a vaccine.

    Besides, as much as I care for those in other countries, shouldn't we also be caring about the impoverished in our own nation?
     
  19. benthewraith macrumors 68040

    benthewraith

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    #19
    In rare instances where people are being killed by the millions because of this disease, I can understand and would agree with the use of DDT.
     
  20. iSaint thread starter macrumors 603

    iSaint

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    #20
    Yes, I had not considered that when I made my first post. They are already doing so much with education...why not poverty in the US?
     
  21. celebrian23 macrumors 65816

    celebrian23

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    #21
    As would I.
     
  22. zap2 macrumors 604

    zap2

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    #22

    what about John Lennon? I mean he was pretty rich, and he died with it


    And do you really think Bill Gates is going to be dirt poor at the time of this death? No matter how long bill lives, he will not have to worry about money, and still be "rich"


    I don't like your saying very much:p
     
  23. ham_man macrumors 68020

    ham_man

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    #23
    John Lennon died suddenly. I'm sure if he had lived into old age, he would have given to charity.

    And Bill Gates will be rich until he dies, but if I had to guess, much of his wealth will go to the foundation.

    :rolleyes:
     
  24. MongoTheGeek macrumors 68040

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    #24
    Don't know about the One campaign. The Gates's foundation does most of its third world donations with micro-loans. Its hard for 3rd world dictators to skim off of a $500 check.

    I am quite certain that a cure is possible for people in the early stages. The best bet is to work on eradication. 1 disease has been eliminated. Another is almost gone. AIDS is a perfect candidate to be number 3.

    The poor in the US are middle class in 3rd world countries. The working poor are upper middle class.


    His plan is to leave only enough so his kids don't have to work. Grandkids will have to earn their place in the world.
     
  25. Abstract macrumors Penryn

    Abstract

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    #25
    You can ALWAYS make a statement like that.
     

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