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> Surprising, no. He's founder and ex-CEO of Microsoft. > Popular public figure, plus famously finances medical research and charity work. YMMV. A lot of rich
by coribuci 7y ago
> Surprising, no. He's founder and ex-CEO of Microsoft.
> Popular public figure, plus famously finances medical research and charity work.
YMMV. A lot of rich people finance medical research ( some because they are sick) and charity "work" helps them avoid taxes.
- JoeAltmaier 7y agoRead a little more about it. Gates is a major player in medical research.
- paulddraper 7y ago"Actually, I ran the numbers on this, and in this case, it makes financial sense to gain money." Unless your marginal rate is over 100%, you will never save enough money in taxes to make up for it. (Though you can intelligently time and strategize the donations you do make.)
- anonsivalley652 7y agoIn general yes and no, in this case no. I think he sees it as a personal moral obligation by how he was raised. In general, there are some extreme examples: - The Silicon Valley Community Foundation (SVCF) is a non-profit with a multibillion endowment. It's how many American billionaires get tax benefits immediately while transferring assets later. And, the SVCF doesn't do very much community work except for donors' pet projects that may or may not be for the public good. The previous maybe some ostensible philanthropy, but that's not how every very rich person operates: Patriotic Millionaires (calling for more taxes) and The Good Club (Bill Gates, Oprah, Warren Buffett, Ted Turner and more) are definitely counterexamples to the stereotype.