4 ms·
To be honest, since he's giving the money to a non-profit that he owns, we have no idea what the money will be used for. We take his word that it will be used
by koheripbal 4y ago
To be honest, since he's giving the money to a non-profit that he owns, we have no idea what the money will be used for.
We take his word that it will be used for Climate Change.
If he takes $1MM to donate to Harvard to secure a seat for each his children/grandchildren, then that's legal. If he uses it to host parties for the wealthy to "raise awareness", then that's legal. If he uses it to setup hotels, flights, IT servers, consultants, etc, then that's all legal. If he runs for office and uses the money for his campaign, that's all legal.
Moreover, if he gets into office he can now accept donations to his foundation in order to influence policy/laws without much question.
...and for a myriad of other quasi-personal uses, it's basically untraceable as non-profits have low financial reporting requirements.
I am very skeptical of these personally owned family "Foundations".
- ethanbond 4y ago> guy does good thing > but look… he could’ve done bad thing We have every reason to believe Yvon and co. will be handling this responsibly and no reason to believe they will not be.
- itsdrewmiller 4y ago>If he runs for office and uses the money for his campaign, that's all legal. This would definitely not be legal.
- eganist 4y agoIt possibly could be given that the nonprofit is structured as a 501c4 (though not primarily or directly), but it's more likely that this was done to enable lobbying as a primary activity. https://www.irs.gov/charities-non-profits/other-non-profits/social-welfare-organizations https://www.irs.gov/charities-non-profits/other-non-profits/...