“I will give away virtually all my wealth”: The Microsoft billionaire has pledged his foundation will distribute $US200 billion over the next 20 years.
Still leaves him with just over $1 billion, enough for his great great grandchildren to live comfortably forever. Don’t be fooled, this is about tax breaks, not charity. Once you have over a billion in wealth, you’ve won the game of life. There’s nothing you can’t buy, there’s nothing you can do.
Once you have over a billion in wealth, you’ve won the game of life.
More like the game of 100 lives. I’m using $10m as a gross estimation for what a person living comfortably needs to spend throughout their whole life. Sure it varies by country and other factors, but this amount should more than cover a lifestyle in which you literally don’t need to worry about a thing. No need for sketchy investments either: just stuff it in a deposit and you could live off the interest alone, but that’s assuming you have all the money at once.
Still leaves him with just over $1 billion, enough for his great great grandchildren to live comfortably forever. Don’t be fooled, this is about tax breaks, not charity. Once you have over a billion in wealth, you’ve won the game of life. There’s nothing you can’t buy, there’s nothing you can do.
And don’t forget, this is about laundering reputation. Hence the whole “in 20 years” crap.
More like the game of 100 lives. I’m using $10m as a gross estimation for what a person living comfortably needs to spend throughout their whole life. Sure it varies by country and other factors, but this amount should more than cover a lifestyle in which you literally don’t need to worry about a thing. No need for sketchy investments either: just stuff it in a deposit and you could live off the interest alone, but that’s assuming you have all the money at once.
Truly a financial genius to give up 99% of his wealth for tax breaks…
I figure he donates to his own charity and still has a lot of control over the money either way.
I wonder what thatd look like on his taxes.
Is it really about tax breaks, when the US doesn’t have a wealth tax? Would it prevent his children from dealing with inheritance tax?