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Ya my old boss did this (the family foundation style). He was worth about $500M at the time I knew him. And ran his little "charity" that gave away 5% a year M
by elchief 8y ago
Ya my old boss did this (the family foundation style). He was worth about $500M at the time I knew him. And ran his little "charity" that gave away 5% a year
Meanwhile all that money was managed by some hedge fund and was making 30% returns (this was '08, right before the Great Recession)
He owned the most expensive house in the Hamptons and had a private jet and complained about all the sycophants
We did get catered lunches by his personal chef every day at work, so I'm not complaining...
- downandout 8y agoMeanwhile all that money was managed by some hedge fund and was making 30% returns (this was '08, right before the Great Recession) If the charity was making 30% returns, how is that a bad thing? Those gains don't flow back to the donor.
- elchief 8y agoI wouldn't say it's a bad thing. Just contrasting it to the 5% outflow
- throwaway76543 8y agoYour objection is that he earned a 30% return and only donated 5%?
- greedo 8y agoDespite your disclaimer, you are complaining. The scare quotes around charity, the cost and location of his house, his private jet, and his complaint about sycophants; none have to do with the NYT article, just an anecdote from you with your complaints.