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Gates Makes Largest Donation Since 2000 With $4.6 Billion Pledge (bloomberg.com)
From a report: Bill Gates made his largest gift since the turn of the century, giving away Microsoft shares that accounted for 5 percent of his fortune, the world's biggest. The billionaire donated 64 million of the software maker's shares valued at $4.6 billion on June 6, according to a Securities & Exchange Commission filing released Monday. While the recipient of the gift wasn't specified, Gates has made the majority of his donations to the Bill & Melinda Gates Foundation, the charity he and his wife use to direct their philanthropic efforts. It's the largest gift of Microsoft shares that Gates has made since 2000. The 61-year-old gave away $16 billion worth of Microsoft shares in 1999 and $5.1 billion a year later, according to calculations by Bloomberg.
They publish annual reports of where the money goes, and independent auditor reports. It's not like he's spending it on oil paintings of himself. https://www.gatesfoundation.or... https://www.gatesfoundation.or...
I should say the same for you. He wasn't paying taxes before. The parent implies that he needs to pay taxes on it now. He does not - it is paper wealth, and we have no wealth tax. When he dies, his estate would have to pay taxes unless the assets were first donated to a charity. When he dies, he has control over nothing - the trustees of the charity will. He can make his wishes known, and that's it.
W..w..W - Willy Waterloo washes Warren Wiggins who is washing Waldo Woo.
The point that SANE people are getting is there AREN'T any benefits like you suppose.
Let's say you have $1B in unrealized gains. Your tax liability on that is exactly $0.
Supposed you realize the gains, and DO NOT donate. You pay $150M tax, and keep $850M for yourself. However, if you donate the shares, you pay $0 taxes and keep $0 for yourself. Where, exactly, is this supposed 'benefit'? It may be bad financially for the government (aww) if you donate, but it is worse financially for you if you DO donate.
The 'he controls the wealth' is nonsense. The foundation controls the wealth, and their are strict laws on what can and can not be done with the money. Chief among the 'can nots' is that the money can not benefit HIM.
He's given away about 1/3 of his wealth so far. Seems like he is honest in his pledge to me so far. After all, he's only 61 years old right now. https://en.wikipedia.org/wiki/...
Just because I can hook a shark from a boat, I do no offer to wrestle it in the water.