6 ms·

> Given that he's pledged to give away his money before death He probably is, but it always surprises me that billionaires think they know when they will die.

by vasco 4y ago

lotsofpulp 4y ago
It seems reasonable to interpret “giving away one’s wealth before dying” to mean that they have a goal to not pass on a significant portion of their wealth to heirs, but rather donate it prior to succumbing to old age. Obviously, it is what it is if one were to die unexpectedly, but that is an obvious caveat that does not need a disclaimer.
- vasco 4y ago
  If it's so obvious maybe it should be obvious that my comment pertains to the fact that if you want to give away your money, give it away. If you're telling people you're giving it away in the future you're just trying to live your whole life getting accolades without actually doing the thing you get accolades for. And then you might even die and not have done it.
  - lotsofpulp 4y ago
    > If you're telling people you're giving it away in the future you're just trying to live your whole life getting accolades without actually doing the thing you get accolades for. Another possibility is they are encouraging others to make the same commitment.
    - vasco 4y ago
      What is more powerful? > JUST IN: CEO of biggest company in the world donates 90% of their wealth. Articles for years about how they did it. > CEO of biggest company in the world joins many others in promising giving away most of their money but not doing it. Mind you, I have nothing against rich people and crazy spending. Just don't pretend like you're so magnanimous if you're not actually doing it.
      - sokoloff 4y ago
        In our world? The second. My prediction is the donation from the Patagonia founder (whose name I have already forgotten) will be written about fewer than 10 times in significant distribution in the two decades from 2025 to 2044. Whereas the giving pledge type of billionaires will be written about more than annually on a per capita basis. It's the same reason I think that politicians are reluctant to quickly deliver on their promises. Because those promises represent pain points which represent the power to get them (and their party) elected in the next election as well. That power goes away if the pain point is solved.
  - llampx 4y ago
    Then you're not a billionaire anymore, you're just some guy.
  - rlpb 4y ago
    Keeping the money isn't necessary as unphilanthropic as you seem to imply. Wealth doesn't typically sit under the mattress doing nothing. While the person is alive, they can control how that wealth is invested, and do good that way. Giving it away while still alive would take it out of their control, and perhaps they think that keeping control will do better from a philanthropic perspective.
    - vasco 4y ago
      That is not the argument. People can keep their money all they want. The annoyance is with trying to get accolades for something they haven't done. It's like me going around saying how in 5 years I'll quit my job and become a pauper that dedicates their life to volunteering.
  - xwdv 4y ago
    The alternative is you could give it away early, get some recognition for a bit, and then after a year or two people have forgotten or don’t give a shit and you have nothing.
    - tchaffee 4y ago
      Another alternative is to give it away quietly on a regular basis and not seek recognition. Which is what Cook has been doing.
  - tchaffee 4y ago
    How would you give away that much money so it has a lasting impact? Lump sum would be risky. You would diversify and do it over time. And he is indeed giving it away. Just quietly. MacRumors reveals that Cook last week donated 10,715 shares to an undisclosed charity. As of the date of the transaction, August 20, 2020 that would put their value at a little over $5M. The gain in value since then means that the shares were worth almost $5.4M as of yesterday’s close. Cook revealed in 2015 that he plans to give away all of his wealth during his lifetime. Cook says that he has already begun donating money quietly, but that he plans to take time to develop a systematic approach to philanthropy rather than simply writing checks. He regularly donates AAPL shares to undisclosed charities.

> Given that he's pledged to give away his money before death He probably is, but it always surprises me that billionaires think they know when they will die.

by vasco 4y ago

> Given that he's pledged to give away his money before death He probably is, but it always surprises me that billionaires think they know when they will die.

lotsofpulp 4y ago

It seems reasonable to interpret “giving away one’s wealth before dying” to mean that they have a goal to not pass on a significant portion of their wealth to heirs, but rather donate it prior to succumbing to old age. Obviously, it is what it is if one were to die unexpectedly, but that is an obvious caveat that does not need a disclaimer.

vasco 4y ago
If it's so obvious maybe it should be obvious that my comment pertains to the fact that if you want to give away your money, give it away. If you're telling people you're giving it away in the future you're just trying to live your whole life getting accolades without actually doing the thing you get accolades for. And then you might even die and not have done it.
- lotsofpulp 4y ago
  > If you're telling people you're giving it away in the future you're just trying to live your whole life getting accolades without actually doing the thing you get accolades for. Another possibility is they are encouraging others to make the same commitment.
  - vasco 4y ago
    What is more powerful? > JUST IN: CEO of biggest company in the world donates 90% of their wealth. Articles for years about how they did it. > CEO of biggest company in the world joins many others in promising giving away most of their money but not doing it. Mind you, I have nothing against rich people and crazy spending. Just don't pretend like you're so magnanimous if you're not actually doing it.
    - sokoloff 4y ago
      In our world? The second. My prediction is the donation from the Patagonia founder (whose name I have already forgotten) will be written about fewer than 10 times in significant distribution in the two decades from 2025 to 2044. Whereas the giving pledge type of billionaires will be written about more than annually on a per capita basis. It's the same reason I think that politicians are reluctant to quickly deliver on their promises. Because those promises represent pain points which represent the power to get them (and their party) elected in the next election as well. That power goes away if the pain point is solved.
- llampx 4y ago
  Then you're not a billionaire anymore, you're just some guy.
- rlpb 4y ago
  Keeping the money isn't necessary as unphilanthropic as you seem to imply. Wealth doesn't typically sit under the mattress doing nothing. While the person is alive, they can control how that wealth is invested, and do good that way. Giving it away while still alive would take it out of their control, and perhaps they think that keeping control will do better from a philanthropic perspective.
  - vasco 4y ago
    That is not the argument. People can keep their money all they want. The annoyance is with trying to get accolades for something they haven't done. It's like me going around saying how in 5 years I'll quit my job and become a pauper that dedicates their life to volunteering.
- xwdv 4y ago
  The alternative is you could give it away early, get some recognition for a bit, and then after a year or two people have forgotten or don’t give a shit and you have nothing.
  - tchaffee 4y ago
    Another alternative is to give it away quietly on a regular basis and not seek recognition. Which is what Cook has been doing.
- tchaffee 4y ago
  How would you give away that much money so it has a lasting impact? Lump sum would be risky. You would diversify and do it over time. And he is indeed giving it away. Just quietly. MacRumors reveals that Cook last week donated 10,715 shares to an undisclosed charity. As of the date of the transaction, August 20, 2020 that would put their value at a little over $5M. The gain in value since then means that the shares were worth almost $5.4M as of yesterday’s close. Cook revealed in 2015 that he plans to give away all of his wealth during his lifetime. Cook says that he has already begun donating money quietly, but that he plans to take time to develop a systematic approach to philanthropy rather than simply writing checks. He regularly donates AAPL shares to undisclosed charities.