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Edited on Sat May-07-11 02:37 PM by Hannah Bell
berkshire shares to the foundation. Their "worth" is whatever they're valued in the market at the time they're cashed out.
He actually "gives" about 5% of those shares a year.
He also sits on the board of the gates foundation. and his children (who run their own private foundations endowed by daddy) will sit on the board when he dies.
2)in return for those donations, gates/buffett get to invest the foundation principal tax-free & direct global economic & social policy without even the inconvenience & scrutiny of an election.
maybe you like being ruled by an unelected, unaccountable class of global aristocrats.
some of us don't.
among the wonderful philanthropists in the gates-buffett "donate all your wealth to charity" gang = pete peterson, who has pledged all *his* wealth to his own foundation, which is devoted to the destruction of social security.
gates-buffett are just a little more slick than that, but the thrust is the same.
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