Bill Gates's philanthropy costs him richest-man title

[Freddie Stubbs]

Source: Reuters

NEW YORK — Bill Gates didn't lose his title as the world's richest man last year; he gave it away by plowing billions into his charitable foundation, experts say.

Forbes will release its 2011 billionaires list on Wednesday and Gates, investor Warren Buffett and last year's richest man, Mexican tycoon Carlos Slim, will almost certainly be in the top three. The trio have topped the list for the past five years.

But it would be no contest if Microsoft co-founder Gates had not already given away more than a third of his wealth to the Bill and Melinda Gates Foundation, which focuses on global health and development and U.S. education. (Msnbc.com is a Microsoft-NBC Universal joint venture.)

"It wouldn't be a competition," said David Lincoln, director of global valuations at wealth research firm Wealth-X. "(Gates) would have a comfortable margin if he had never discovered philanthropy."

Read more: http://www.msnbc.msn.com/id/41970988/ns/business-world_business/

[Vincardog]

1. I'd prefer that Gates kept his money and they were not working so furiously to privatize our schools

[RandomThoughts]

2. Money that advocates for a position someone holds is not charity.

That is trying to buy some social effect with money. It has strings.

Roll With It - Steve Winwood
http://www.youtube.com/watch?v=fWptXUblA4E


Although he may be doing some good, and some bad, don't confuse that with charity.

[pnwmom]

3. True, but all the money they're spending on third-world

health IS charity.

http://www.gatesfoundation.org/global-health/Pages/overview.aspx

[crazyjoe]

4. But but, they aren't spending money, they are giving discounts on licensing for their software. :-)

[RandomThoughts]

9. I was commenting on the school comment.

He has advocated for health in many areas, he also is an advocate for population control, so that could be an issue.


But anyways, he has alot to give away before any of that is even relevant.

On a side note.

I am still due beer and travel money and many experiences.

[The Nexus]

11. And tax deductable. nt

[Rebubula]

7. OK...

...so when you donate money - do you just give it to a random company\organization? Hand it off to a receptionist of a large building and hope it goes somewhere good?

No...you give it to a group with the idea that you can have a positive effect on society. Mr. and Mrs. Gates just have a lot more than you and have the ability to focus the money better.

Unless you know his motives, he is doing the same thing that I do when I give money to American Cancer society or House of Ruth. Those are the only places I donate (except major tragedies) - am I just a jerk trying to forward my personal causes?


I agree that he is not the 2nd coming of Mother Theresa - but to demonize or discount his contributions is myopic.

[n2doc]

5. Some call it philanthropy. Others call it social engineering

Others call it deliberate imposition of a particular philosophy by bribery, graft and intimidation.

Benign, Mr. Gates is not.

[TBF]

14. Exactly. I would refer to it as "distraction". nt

[Rebubula]

15. The people...

...on the receiving end of his largess may have a different opinion.


There will always be people that are rich and people that are poor. I consider it a good thing when rich folks don't just act like hoarding assholes and actually attempt to help people.

[TBF]

16. Sorry, I'm not buying your delusional American Dream. nt

[Rebubula]

17. A dream = reality?

OK.

I agree that things could be better - but knowing human nature and knowing human history, this dichotomy is not changing anytime soon. So I will remain happy that some people with an insane amount of money are trying to do something for people in lesser circumstances.

You are welcome to be unhappy.

[TBF]

19. If people are not unhappy with this system they are not paying attention -

or they still have something to lose. That will change as things get even worse.

[Rebubula]

21. I think that we sort of agree

I just have become inured to the world and the way humans are. I have little hope that we will rise above all of human history any time in our (or our Great-great.....grandkids ) lifetime.

I like to find beauty in the midst of ugliness. It helps me stay sane.

[TBF]

29. We do agree there -

It may not come in our lifetime, but I stopped mincing words awhile ago because I decided to stop pretending. There is still plenty to find joy in I agree, the arts, our families, friends ...

[n2doc]

22. People getting paid usually do

"It is difficult to get a man to understand something, when his salary depends upon his not understanding it!"- Upton Sinclair

[provis99]

26. Gates doesn't give money to poor people.

Your entire statement is unfounded.

[Rebubula]

28. Who then?

Who are the rich people that benefit from his largess?

Please elaborate on where I am wrong.

[LanternWaste]

24. I imagine what one calls it...

I imagine what one calls it is rather more predicated on our own biases than on the thing itself.

[n2doc]

25. True of most things n/t

[xCrushx]

30. His money has helped pay half of my AP exam fee and fund materials for my public school classes

[Rebubula]

6. Simply awesome responses on this thread

A man creates (insert own opinion of MS here) a system that the whole world wants and makes it simple. He amasses more than 75 Billion dollars - gives away more than 1/3 and STILL not a single post (one 1/2 positive post) that credits him.

EVERYONE that gives to charity is doing so with the intent of creating a social change or based on their own agenda. Mr. and Mrs. Gates just have a shit load more than anyone else. Plus, he has no intention of passing on that wealth to his kids. They will certainly never be poor, but he has stated repeatedly that the bulk of his estate will go to charitable causes.


I guess "hate the rich" is in fashion...regardless of what they do.


What a dick - giving his money away to the less fortunate.

[PatSeg]

10. Excellent response

I'm quite sure that if any of us were rich, we would be charitable based on OUR own agenda and there would be those who would be critical of our generosity.

[Mz Pip]

12. +1

[pnwmom]

18. Not a single post that credits him?

http://www.democraticunderground.com/discuss/duboard.php?az=view_all&address=102x4761267#4761278

[Rebubula]

20. Fine...fine...

...you are awesome....


I missed yours as I was typing....


:toast:

[Rex]

39. ROFL!

Guess the "I hate the people that hate the rich people" is still working out fer ya! :rofl:

[AtheistCrusader]

27. I'm a little too appalled to chime in.

But thank you for your post.

[underpants]

31. I was just about to post "Good for him" but then I saw the "Mexican tycoon Carlos Slim" reference

I mean come on.. that is GOLD!!!

Mexican tycoon Carlos Slim

[speltwon]

32. Agree. I have a friend who used to work for the Gates Foundation

She traveled the country installing computer networks in libraries, so that library users even in very isolated locations could have usage of the internet, etc. She also taught librarians how to use the equipment, etc. The man has done a lot of good.

[JackRiddler]

35. What myths would you have believed about Rockefeller, or Vanderbilt, or Boss Frick?

Microsoft suckered IBM into making a big mistake, then used an initial market position to push better products off the market. They destroyed a company with a superior product, DRDOS, by threatening not to allow Windows to any OEM that also offered DRDOS. They did this over and over. In the mid-1990s, the bastards actually hoped to take over the whole Internet (naively, as it turned out).

Gates didn't give away his money, he performed the usual conversion from robber baron to philanthropist that the billionaires before him did.

The Gates Foundation action is in the endowment, not the "philanthropy," and if the money has been "given away," how come the plan is still to have it around in 90 years? Gates endowment grows from year to year (that's in addition to the increased equity).

As for the "philanthropy," that is social engineering on behalf of the rich. He's paying to destroy the teachers' unions and privatize the schools (where surveillance software will police the remaining teachers and "educational" software will do most of the "teaching" and monitor the students) and for medical experimentation on Africans. If you've been around here long enough, you've seen plenty of documentation.

It's sad that the super-rich have their partisans infesting all parties. It would be much better to have a party that actually represented the working people, and not their owners.

PS - Your pretend surprise at the reactions here is disingenuous, given that the original post was pro-Gates. Plenty of people around here think he's holy.

[Frank Booth]

37. Don't forget, people here don't "hate the rich" when it comes to the

rich guy who markets super-cool mp3 players, phones, and pads that make millions of people look cool. Who cares that he doesn't give to charity? He's cool!

[pasto76]

8. what a stupiud headline. How does heloing people "cost" anyone anything?

stupid

[TBF]

13. How "helping" costs.

The thing with charity it is that it allows us an "out" ... we give a bit of funds (or in Bill Gates' case a lot of funds) to organizations we approve and tell ourselves we are "helping". All we are doing is enabling capitalism to continue. "Oh it's not so bad - the rich folks give back some to charity". Well, I believe there are many people on this earth that would like a chance at an equitable playing field rather than a few crumbs some rich guy decides to dole out on any given day.

I give to a few groups - I'm sure most on this site do. But it is like voting, something we do now and then to help out on some level, but it doesn't really change anything in a substantial way.

[Fire1]

23. Oh boo hoo. n/t

[marasinghe]

33. my major problem with this: the palpable asskissing in the headline.

other than some wannabe groupies, some soulless journalist & his single celled readers, who gives a fuck about the "richest-man title"? not even bill gates himself, i would imagine.

[24601]

34. Bill gives it away thereby funding the things HE wants rather than

keeping it until death and turning it over to the government in estate taxes. We're screwed if the people start to believe their spending judgment is just as good or better than Obama's.

[La Lioness Priyanka]

36. i admire bill gates philanthropy. his work in malaria and hiv prevention

in south asian should really be applauded.

:applause:

[Rex]

38. Well you know it is all about who does #1 on whom.

Er I mean who is #1 among The Whom.