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Bill Gates: "I have no use for money"

Discussion in 'Off-Topic' started by Nuclear, Jan 21, 2013.

  1. Hakeem

    Hakeem

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    You would be surprised. :V
     
  2. Nuclear

    Nuclear

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    Nope, Bill & Melinda Gates Foundation has a status of charitable foundation that enjoys tax exemptions, so there are regulations that apply. For example it must publish annual reports about its doings, and it must not have tight connections with for-profit companies.
     
  3. Hakeem

    Hakeem

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    I'm sure that "connections" are something that can be accurately and strictly governed against the consent of the governed organizations.
     
  4. Nuclear

    Nuclear

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    Yes. I believe they can be observed from the detailed report about the organization's spendings and doings.
     
  5. Lordkoon

    Lordkoon

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    Wrong.

    Every company has to publish annual reports, but not every company has to publish it outside of the governmental regulated areas of state and federal levels. Private foundations are excluded from that requirement.

    Every U.S. and foreign charity that qualifies as tax-exempt under Section 501(c)(3) of the Internal Revenue Code is considered a "private foundation".

    In addition, a private foundation usually derives its principal fund from an individual, family, corporation, or some other single source and is more often than not a grantmaker and does not solicit funds from the public.

    These of course tend to be private foundations. Some private foundations however, (and most public charities) use their received funds to directly engage in service activities themselves and achieve their goals "personally," so-to-speak.

    Examples of a non-operating private foundation would be the Rockefeller Foundation and the Bill & Melinda Gates Foundation.


    Yesterday I emailed my professor about that and I am afraid he agrees. The foundation can be connected to the company without the need to make it public information, thus getting tax reliefs.

    Speculations are not needed, as not even he can be absolutely sure.
     
  6. Edhel-dur

    Edhel-dur

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  7. trolman

    trolman

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    I also heard he was investing in some kind of special condoms.
     
  8. Razosh

    Razosh

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    Yes and I've heard that the tooth fairy comes and picks up my teeth at night in exchange for money.

    But I will say this about Bill Gates he's a great man and if the world were full of people like him the world would be a much better place.
     
  9. Hakeem

    Hakeem

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    It's not that he's great; most people with that kind of cash would be generous with it.

    It's simply that most rich people are, in addition to being rich, terrible people.
     
  10. trolman

    trolman

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  11. Razosh

    Razosh

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    Alright I was wrong and I apologize.
     
  12. Hakeem

    Hakeem

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    Don't worry, I can't tell what's real anymore either.
     
  13. BlackEnvyX

    BlackEnvyX

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    Zombie. Sure, charity may be a way for extra publicity for the company. But you're missing the fact that they could just KEEP the money. I highly doubt one person would go "oh, they didn't help people in Africa, I'm not buying their laptop!"

    People are going to buy their products anyways. Bill Gates is just a very charitable individual who feels like helping people. Have we really come to a day and age when giving back to the community is frowned upon just because of who's doing the giving?
     
  14. Hakeem

    Hakeem

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    That's because you don't see giants competing charity-wise. If you actually saw a company like Microsoft giving actual charity and advertising that they are helping people in Africa, you can bet that a ton of consumers would value that in their shopping decisions. Note: This already happens, just not in all aspects of industry.
     
  15. Statharas

    Statharas

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    I don't see Microsoft products saying "Half your money will go in combating malaria" or stuff like that. Truth is, you only read/hear about it from the media.
     
  16. mikeisman2

    mikeisman2

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    The key is hes still doing something who cares his reasons as long as he is doing something. Zombie do you give up 99% of your income to help people. Its easy to preach about how someones not doing enough but are you doing anything yourself.
    personally i do charity at halfway houses and soup kitchens might i note i don't do it for school and not for hours i coudnt tell you how many hours i have logged for it cause i dont log them i do it because helping people is good. I dont get why people complain about other people helping when they most likely are doing nothing themselves. Yeah hes rich so what your not rich you expect him to just throw all that wealth he "EARNED" to other people. Yeah that would be nice but the reality is thats not happening. Now unless you want do make a new operating system and produce ground breaking technologies and make a killing and donate all your money id stop hating. Because that 1% is still doing a lot of good!
     
  17. Adiktuz

    Adiktuz

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    And also that yes, his donations might be marginal compared to Microsoft's revenue... but don't forget that Microsoft's revenue is not Gates' revenue... and using revenue is not even a good idea since it's not what companies actually gain, it's the profit that matters since it's what stays in the company...

    and also associating his personal life with microsoft is not something that people should do, seriously, it's people like you who like to form a permanent link between a person and his company is what makes these "good" things look bad...

    and really, a lot of wealthy people hog their money... it's nice to see these other wealthy people sharing their blessings...
     
  18. Krolan

    Krolan

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    Well, they can afford it. I agree with Zombie in terms of this being a marketing action. It is. If it wasn't, why wouldn't he spend half his income to something else, since he clearly does not need all that money, to help "even more people". Also, just because most of his money "will be spent in the next 20 years after his death", doesn't mean it will be one day sooner than exactly 20 years later, whatever may be left of it (inflation). Sorry, I'm a big sceptic when it comes to such things.

    Also: Just because there's someone being worse, doesn't make the other better. In General It would be better if all rich people acted like gates, but also in general, it would be even better if all rich people acted like Jesus.

    Just sayin'
     
  19. Basinator

    Basinator

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    I disagree. First off, it is a good thing. Second, Bill is doing a lot of work himself. Do you even know how much he donated? There is no way he would earn even half that much money back by having a good reputation.

    For what does he even need it? He isn't a MS employee anymore, hell, he even has a corporation which does....actually, nothing. Really, it doesn't seem to do anything, and IIRC it does this for a few years already.

    Also, I think he is investing HUGE personal energy into his charity. Why? Because I fucking read his 33 pages blog posting about 3 mysths of development aid. Oh, and he did some Ask Me Anything on reddit too!

    And I am pretty sure it is just the top of the iceberg what I saw from his work for his charity.
    What is wrong about having a lot of money?
     
  20. Mageworld91

    Mageworld91

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    Do you hear that Microsoft acquired Nokia . I'm so boring.