The late Robert Wilson, who was a super smart trader apparently warned Gates about the shaky nature of the pledge.
NyPo reports:
Bill Gates is the richest person in the world — but one retired New York hedge-fund mogul thought the software pioneer’s Giving Pledge was “practically worthless.”
Robert W. Wilson, a well-known philanthropist who had given away $600 million of his fortune as of 2013, abruptly turned aside Gate’s 2010 request that he sign the Giving Pledge.
The pledge pushes billionaires to give away a bulk of their fortune while they are alive, or in their will.
Wilson found especially problematic the pledge’s loophole that allowed signers to gift their wealth to a family-controlled foundation.
“And these foundations become, more often than not, bureaucracy-ridden sluggards,” Wilson wrote to Gates in a June 2010 e-mail, a copy of which was obtained by the website BuzzFeed.
“I’m going to stay far away from your effort,” Wilson told Gates in the same e-mail[...]
Wilson. who made his fortune after founding Wilson & Associates, a hedge fund whose specialty was short-selling, was a champion of Catholic schools and environmental causes.
Gates, who has been famously joined in his Giving Pledge effort by Warren Buffett, was undeterred by the brushoff.
The Microsoft co-founder, worth $78.5 billion, admitted to Wilson in a reply e-mail three days later that “some people set up a foundation without a strong focus or leadership and with high overhead.”
He told Wilson the group of pledge signers “would benefit from your joining in.”
Wilson, by signing the pledge, could inspire younger people to increase their giving, Gates wrote.
Wilson, in a second e-mail to Gates, was a bit more testy.
“You, being a liberal, think you can change people more than I think,” he wrote.
Wilson zeroed in on Gates’ “younger” people focus.
“When I talk to young people who seem destined for great success, I tell them to forget about charities and giving,” Wilson replied to Gates. “Concentrate on your families and getting rich — which I found very hard work.”
“When people reach 50 and are beginning to slow down is the time to begin engaging them in philanthropy,” added Wilson.
Appearing weary of the give-and-take, Wilson signed off simply: “I’d greatly appreciate just leaving it at that.”
Brother Bill would do well to stop trying to save the world (we really don't care what HIS view of the future is) and concentrate on saving his company...
ReplyDeleteAccording to Zambian economist Dambisa Moyo, Bill Gates is killing Africa by creating bureaucracy dependence on "donations" rather than wealth creation. According to his own TED speech 2010, he intends to use his vaccination ruse to wipe out hundreds of millions of people. (Of course he didn't phrase it that way but how else do DECREASE world population through birth control and vaccinations?) His embrace of Monsanto's world domination plan is even more sinister intentionally bringing drought and sickness in epidemic proportions all while he gets richer. And of course the Gates foundation is a financial member of the Lucis subgroup, "The New Group of World Servers". In case you didn't know, the "Lucis" group changed it's name from the Lucifer Trust mid way through the 20th Century and promotes "The Plan" to bring all of civilization under central control. Like all good liberals they don't quite go all the way in their propaganda which, in this case, would mean TRULY giving it all the way and moving into a small ranch home in the Valley.
ReplyDeleteIf you are charitable, you can make donation directly on the ground.
ReplyDeleteThere is no need to sign any pledge or notify anyone other than yourself of your own donation or future donation.
Signing the pledge is just for PR show.
Brother Bill can donate 1 or 2 million to ME with complete confidence that it will be greatly appreciated and that I will live a low-impact life on the earth. Bill, I know that with your NSA buddies, you can track me down and deposit the $$ in my bank account. You will NOT be disappointed.
ReplyDelete:)