Walton, Walton, and Walton as well as Koch and Koch inherited wealth. The Waltons (as I understand it) have no real jobs.
Number 8, Sheldon Adelson is the self-made gambling kingpin who is opposed to the progressive income tax. He prompted my question in Great Debates a week or two ago.
The Koch brothers are famous for keeping congressmen as pets.
On the other hand, Soros, Koch, Koch, Ellison, Buffet and Gates are self-made men and that is a Good Thing.
The top three (all self-made men) are much richer than the rest, and all are very generous men.
Any comments?
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The last guy on the list is Dan Snyder of the Washington Redskins, he is worth only 1.05 billion.
Yeah, the Koch brothers started out immensely wealthy due to the inventions of their father. I’ll give you Buffet, Soros and Ellison. Gates was the beneficiary of his father’s skill in negotiating a contract with IBM that let him keep the rights to MS-DOS and his mother’s political connections. His father did give impress upon him the value of giving back to society.
Am I the only one who remembers when Ted Turner called out Bill Gates because Gates WASN’T giving back much of his wealth to charitable causes?
I don’t have any stats on this, but my recollection is that it was only after that peer pressure from Turner that Bill Gates started ponying up significant amounts for charity.
And, really, when you think about it, if someone is still tops on the richest men in the world list, they’re not giving THAT much of their wealth back.
I disagree. What’s he going to do, write a check for $30,000,000,000? It’s not as simple as throwing your change in the Salvation Army bucket. It’s more logistically challenging, plus, you want to vet the charity so that you know your money is being put to good use.
So, flipping through the photos of these 400 richest Americans, there are two things the vast majority of them have in common;
they don’t believe in the value of cosmetic surgery.
they don’t believe in the value of getting a trainer for work outs.
It is truly amazing that with all that money they wouldn’t invest a few coins in their appearance. Seriously - a good trainer, a few nips and tucks…but then again, with that much money they only need to snap their fingers to get what they want. Maybe they don’t care if they look like sickly bingo players at the local retirement home.
They’re probably too busy to spend the time required. Especially with certain types of surgeries as they may require a lot of postoperation maintenance.
Time is money afterall and any time spent redoing their face or physique is time filed under “Not making a million dollars per minute”.
I believe that exercise is a Good Thing, and that, whenever possible, it’s good for people spend some time keeping their body in shape.
But i think the obsession with cosmetic surgery in our society is pathetic, and if the billionaires don’t indulge in it, then that, at least, is a mark in their favor as far as i’m concerned.
Did you notice the one of the Mars’ grandkids has no photo? If was that rich, people like me would never even know what I looked like. Why would I want me to know?
You notice he was not in the Top Ten? CEO of a company now the most valuable on the NYSE, and he is not even in the Top Ten. I bet when the truth on him comes out he will not be a Nice Guy.
Actually, the further you flip through the more you find people with no photo.
Considering these are billionaires, quite a feat to have no photo of record. Then again, I can think of many reasons for not having a photo, so kudos to them. Would make life a lot easier if people didn’t know you had so much money and can just blend in with your friends at the polo club, or at your private jet hanger, or on your yacht in Monte Carlo - you can pretend you only have $100 million.
As Snarky_Kong pointed out, it’s not just writing out a check and putting it in the mail. Assuming Gates restricts his philanthropy to the Gates Foundation, which takes care of the worthiness issue, there are still tax considerations and such. Besides, it’s not like Mr. Gates keeps his money in a checking account anyway. He’s certainly got some liquid assets – he’s gotta eat, after all. But the majority of his wealth is likely tied up in the various markets, and to liquidate those assets in those amounts would raise regulatory issues, as well as more of the aforementioned tax headaches. He could, theoretically, endow part of the Foundation with shares of Microsoft stock, and there is certainly precedent to do so; the Milton Hershey School in Pennsylvania owns a lot of the stock of The Hershey Company, for example. But there is a lot more to this kind of massive philanthropy than you’d think.