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Super Rich Vow to Share Wealth

08/05/2010 12:46 PM

Todays newspapers report that many very wealthy people have agreed to give large sums of money to charity when they die. Since many charities have high overhead costs, several being 70+%, it might make sense for some of the givers to consider contests. Contests have produced very accurate time pieces, a trans-atlantic flight, a sub-orbital space craft, etc. A contest is a super efficient method of accomplishing a goal. There are no cost over runs, no staffing problems, no equipment or facilities worries. Doesn't it make sense for some of the super rich to put up prize money for contest projects today, so they can be here to see and enjoy their investment solving an important problem?

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#1

Re: Super Rich vow to share wealth

08/05/2010 1:06 PM

Well, what makes sense is that people should be able to do what they want with their]/i] money.

If you would like to see the super rich sponsor contests, you could try to appeal directly to them. I know that I (as well as most of us) have no authority to dictate what others do with their charity.

Best of luck.

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#2

Re: Super Rich vow to share wealth

08/05/2010 1:50 PM

Bill Gates has ordered the other billionaires to give away their money as he claims to have done with some of his.

The "contest" concept makes sense, but in reverse. Gates should give money back to Windows users who correctly figure out how to get his stuff to work (virus free). Then the end users will have something left to give to the charity of their choice.

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#4
In reply to #2

Re: Super Rich vow to share wealth

08/05/2010 2:21 PM

I agree completly. It's like buying a car that has 25 parts missing, but you don't know which 25 they are.

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#5
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Re: Super Rich vow to share wealth

08/05/2010 3:01 PM

I guess people are happy buying that "car" and are just thankful they have so much to complain about.

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#9
In reply to #5

Re: Super Rich vow to share wealth

08/05/2010 11:36 PM

Ayn, Bill Rand to the bank.

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#6
In reply to #4

Re: Super Rich vow to share wealth

08/05/2010 3:49 PM

Hey I feel a marketing slogan idea coming on.....

The Microsoft Windows Car, we build it with exactly 25 missing parts so you don't have to worry at nights that the missing parts fell of on the road somewhere. Seat belts and airbags fitted as standard due to random crashes.

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#8
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Re: Super Rich vow to share wealth

08/05/2010 11:30 PM

The MS Car... works well when it starts... and uses digitally encrapted Allen keys for the doors and ignition...

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#3

Re: Super Rich vow to share wealth

08/05/2010 2:20 PM

They could start exercise it before they die. Why wait? Now they are in control of where they spend. After they pass away, others will decide.

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#7

Re: Super Rich vow to share wealth

08/05/2010 4:32 PM

Okay, the skeptic/cynic in me is wondering how many of these super-rich are simply doing this to reduce the inheritance tax their survivors will have to pay* -- and wondering how many of these charities are run by those offspring.

*Which is actually ok by me, since I think 'death taxes' should be abolished; just another way for the politicians to grab some money they don't deserve.

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