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Old 09-13-2018, 05:42 PM   #1
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Default Bezos to donate part of fortune

Bezos passed Gates on the most recent wealthy list because Gates has donated much of his fortune and Bezos has donated very little. This seems to be changing now and I have to admit I am impressed with his plan. He will do a lot of good with this.

Jeff and MacKenzie Bezos create $2 billion fund to fight homelessness

Jeff Bezos has revealed how he plans to donate part of his fortune.
The Amazon CEO and his wife, MacKenzie, will commit $2 billion to fund existing nonprofits that help homeless families and to create a network of preschools in low-income communities. They call their project the "Bezos Day One Fund."


Bezos tweeted a statement Thursday that the fund will issue annual leadership awards to organizations "doing compassionate, needle-moving work to provide shelter and hunger support to address the immediate needs of young families." There will also be full scholarships for Montessori-inspired preschools in "underserved" communities, he said.

Bezos, who also owns The Washington Post and space exploration company Blue Origin, became the world's wealthiest person this year, with an estimated net worth of $164 billion, according to Bloomberg.

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Old 09-13-2018, 08:46 PM   #2
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That’s great.

Now let me take note of something we’re not going to read in the papers:

The world’s uber wealthy often creat philanthropic foundations because they not only build themselves a legacy to be remembered after they’re gone, but also because IRS tax regulations allow them to use these organizational forms as massive tax shelters. Not only are philanthropic foundations able to receive donations that offer tax free opportunities to doners as incentives, but foundations are legally obligated to spend down only 5% of their assets under management in any given fiscal year...while growing the other 95% of their portfolio tax free and investing in all kinds of high yield opportunities not available to ordinary folks. Foundations also serve as financial tools to leverage additional opportunities in emerging market countries by tilting the balance of the economic game to their advantage. Building roads or schools, hospitals or other infrastructure inside poor countries allow the business interests these philanthropic mega-foundations partner with or own themselves to produce huge competitive advantages to their benefactors. They leverage political power this way and often use it to further exploit the local populations by gaining access to cheap labor markets and government assistance in securing natural resources or contracts. I’m not saying foundations don’t do good in the world, but when you look beneath the surface you will often find other motivations are present.
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Old 09-13-2018, 09:45 PM   #3
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That’s great.

Now let me take note of something we’re not going to read in the papers:

The world’s uber wealthy often creat philanthropic foundations because they not only build themselves a legacy to be remembered after they’re gone, but also because IRS tax regulations allow them to use these organizational forms as massive tax shelters. Not only are philanthropic foundations able to receive donations that offer tax free opportunities to doners as incentives, but foundations are legally obligated to spend down only 5% of their assets under management in any given fiscal year...while growing the other 95% of their portfolio tax free and investing in all kinds of high yield opportunities not available to ordinary folks. Foundations also serve as financial tools to leverage additional opportunities in emerging market countries by tilting the balance of the economic game to their advantage. Building roads or schools, hospitals or other infrastructure inside poor countries allow the business interests these philanthropic mega-foundations partner with or own themselves to produce huge competitive advantages to their benefactors. They leverage political power this way and often use it to further exploit the local populations by gaining access to cheap labor markets and government assistance in securing natural resources or contracts. I’m not saying foundations don’t do good in the world, but when you look beneath the surface you will often find other motivations are present.
I don't care about any of that. The fact that he could donate $2 billion for the homeless of America could be a game changer if done properly.
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Old 09-13-2018, 11:13 PM   #4
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I don't care about any of that. The fact that he could donate $2 billion for the homeless of America could be a game changer if done properly.
Key phrase, "if done properly".

What is properly? I can assure you for starters that the $2 billion figure is not going to be spent on the issue. That amount represents the endowment for the foundation. The fund will then spend 5% of that annually, or $100 million. However that doesn't mean that goes straight into the operations part of their budget. That will reflect overhead like salaries, infrastructure, and a variety of other costs. Then there's the question of whether or not the people chosen to run the fund will invest in effective solutions or not. I don't know if Bezos has any kind of predetermined strategy or if he's going to let others decide that.

The Consolidated Appropriations Act of 2018 already targets homelessness with $6.1 billion:

https://www.usich.gov/resources/uplo...cted-final.pdf

How much is fat and how much is not? Who knows? But it's noteworthy that the US Navy is building a new aircraft carrier that costs more than twice that amount.

Priorities....
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Old 09-14-2018, 09:25 AM   #5
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Jeff Bezos has always been kinda screwy ... a real mystery.

The undisputed GOLD STANDARD for philanthropy by the mega-rich is The Giving Pledge. Almost 200 galactically rich members from 20+ countries have joined, pledging to give away the majority of their fortunes during their lifetimes. Gates, Buffett, Jeff Branson, the Bronfmans, Larry Ellison, Arthur Blank, chick who invented Spanks, the Costco guys, Zuckerburg, Bloomberg, Barron Hilton, Elon Musk, Carlos Slim, Paul Allen ... but the richest man in the world is nowhere on the list. Bezos' liberal leanings are well known, but when his neighbor invited him to join the Giving Pledge, he reportedly turned Bill Gates down right to his face.



And just exactly how has Jeff Bezos suddenly this past year skyrocketed from the 7/8 slot all the way up to the #1 richest man on Earth?

I'm not a high-finance expert, but:


How on Earth does all this add up?

All that cash outlay, and still .....

2015: Forbes ranks Jeff Bezos the #15 richest person on Earth with $35B
2018: 3 years later, Bezos is Forbes' #1 richest person on Earth with $112B


He's obviously smarter than I am, just look at him!

I'm sure you're right Guess Who that it could be a game-changer - but I'm smart enough to not be overly impressed with a $2 billion donation from his $112 billion pile. That's like $20 from one of our $1000 paychecks.
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Old 09-14-2018, 10:17 AM   #6
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Jeff Bezos has always been kinda screwy ... a real mystery.

The undisputed GOLD STANDARD for philanthropy by the mega-rich is The Giving Pledge. Almost 200 galactically rich members from 20+ countries have joined, pledging to give away the majority of their fortunes during their lifetimes. Gates, Buffett, Jeff Branson, the Bronfmans, Larry Ellison, Arthur Blank, chick who invented Spanks, the Costco guys, Zuckerburg, Bloomberg, Barron Hilton, Elon Musk, Carlos Slim, Paul Allen ... but the richest man in the world is nowhere on the list. Bezos' liberal leanings are well known, but when his neighbor invited him to join the Giving Pledge, he reportedly turned Bill Gates down right to his face.



And just exactly how has Jeff Bezos suddenly this past year skyrocketed from the 7/8 slot all the way up to the #1 richest man on Earth?

I'm not a high-finance expert, but:


How on Earth does all this add up?

All that cash outlay, and still .....

2015: Forbes ranks Jeff Bezos the #15 richest person on Earth with $35B
2018: 3 years later, Bezos is Forbes' #1 richest person on Earth with $112B


He's obviously smarter than I am, just look at him!

I'm sure you're right Guess Who that it could be a game-changer - but I'm smart enough to not be overly impressed with a $2 billion donation from his $112 billion pile. That's like $20 from one of our $1000 paychecks.
One word..."acquisitions".

Over the last several years Amazon's value has exploded after years of mergers and acquisitions. You don't need to be a finance expert, just remember what it was like playing Monopoly when your brother owned all the good properties and put hotels on them.

The complete list:

https://en.wikipedia.org/wiki/List_o...ions_by_Amazon
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Old 09-14-2018, 11:36 AM   #7
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He can take those steps now by paying his employees more than a pittance. Some Amazon workers live in AUTOMOBILES.
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Old 09-14-2018, 12:05 PM   #8
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He can take those steps now by paying his employees more than a pittance. Some Amazon workers live in AUTOMOBILES.
Lolz.

Rightwads have one set of rules for the Walton family and another for Bezos, right, Drama Llama?
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Old 09-14-2018, 02:03 PM   #9
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Will be interested to read what is done with the money as well as impact.
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Old 09-14-2018, 03:12 PM   #10
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Lolz.

Rightwads have one set of rules for the Walton family and another for Bezos, right, Drama Llama?
You completely ignored my point and tried to turn it into a personal attack.

If that doesn't further prove that you and Wogs are the same person, nothing does!
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Old 09-14-2018, 03:19 PM   #11
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Maybe he can help clean up hickenloopers failed mission here in Denver well he said he was going to fix it and then did absolutely nothing in fact it got worse.
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Old 09-14-2018, 03:50 PM   #12
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Maybe he can help clean up hickenloopers failed mission here in Denver well he said he was going to fix it and then did absolutely nothing in fact it got worse.
Was that Hick's mission when he was Mayor?

Blows my mind how little effort the City has put into helping the homeless long term here in Denver. They even fight good private plans, like the tiny house neighborhood for the homeless.
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Old 09-14-2018, 03:53 PM   #13
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Maybe he could start by offering his employees a living wage?
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Old 09-14-2018, 04:46 PM   #14
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Was that Hick's mission when he was Mayor?

Blows my mind how little effort the City has put into helping the homeless long term here in Denver. They even fight good private plans, like the tiny house neighborhood for the homeless.
My work has a warehouse right at 6th and I 25 I talk to Denver police on a regular basis its a huge problem not only with theft and random fires and drug use and massive trash piles as well as rats the city ends up cleaning.


The Denver cop tells me most are from out of state brought in by hicks open policy and big promises now its a huge problem but they didn't bother to ask what draws them there lol.

https://www.denverpost.com/2018/09/1...ter-park-rats/


Whats funny is they say ( from his camp spot ) there isn't camping legally in city park lol.
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Old 09-14-2018, 04:51 PM   #15
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One word..."acquisitions".

Over the last several years Amazon's value has exploded after years of mergers and acquisitions. You don't need to be a finance expert, just remember what it was like playing Monopoly when your brother owned all the good properties and put hotels on them.

Okay, yes ... those are impressive lists.

But really? He TRIPLED his money ... in just THREE YEARS?!


Don't get me wrong, $2 billion is a mountain of money.

Still ... $2 billion from his $112 billion stack is equivalent to you or I donating a $20 bill from a $1000 paycheck.






. . . . . . . . . . . . . . . ↑ ↑ ↑ ↑ ↑ ↑ ↑ ↑ ↑ ↑ ↑ ↑ ↑

By contrast, the Bill & Melinda Gates Foundation campus and buildings alone will cost a total of $1.5 billion when they're finally completed later this year.

And that's just the campus and buildings alone!
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Old 09-14-2018, 05:31 PM   #16
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Maybe he could start by offering his employees a living wage?
Right?
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Old 09-14-2018, 08:45 PM   #17
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Okay, yes ... those are impressive lists.

But really? He TRIPLED his money ... in just THREE YEARS?!


Don't get me wrong, $2 billion is a mountain of money.

Still ... $2 billion from his $112 billion stack is equivalent to you or I donating a $20 bill from a $1000 paycheck.






. . . . . . . . . . . . . . . ↑ ↑ ↑ ↑ ↑ ↑ ↑ ↑ ↑ ↑ ↑ ↑ ↑

By contrast, the Bill & Melinda Gates Foundation campus and buildings alone will cost a total of $1.5 billion when they're finally completed later this year.

And that's just the campus and buildings alone!
He does for the most part.

Amazon.com Inc Median Hourly Rate by Job
Job Average MinMax
Warehouse Associate 279 profiles $12.84 $11$15
Warehouse Worker 71 profiles $12.75 $10$16
Picker 42 profiles $12.45 $10$16
Get a personalized salary report! Location: Years in Field/Career: Years in Field/Career: United States (change)


https://www.google.com/search?q=aver...hrome&ie=UTF-8

it isn't $15 but not bad.

selecting jobs is based on speed. If you are good you can make money. I hear that the top pickers wear diapers at work so they can select more.
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Old 09-14-2018, 09:30 PM   #18
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Wearing a diaper so you can poop while you work to make up to 16 per hour
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Old 09-15-2018, 12:47 AM   #19
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You completely ignored my point and tried to turn it into a personal attack.

If that doesn't further prove that you and Wogs are the same person, nothing does!
I didn't ignore your point, nitwit - I pointed out your double standard.
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Old 09-15-2018, 09:48 AM   #20
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How many tweety birds does it take to tweet the truth?

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In CorporateWorld, when trouble pops up and things get sticky, CEOs don’t wring their hands and try to dodge the issue. No-sir-ee, the chief gets paid the big bucks to step forward confidently and seize control… by ringing up the company’s PR consultants and having them try to dodge the issue.

Jeff Bezos, Amazon Inc.’s boss, is an expert at this. The uber-rich online marketing colossus has been hit with a long string of exposés about the corporation’s nasty practices. From profiteering as a flagrant tax dodger and predatory killer of independent, local businesses to running a massive network of publicly subsidized warehouses with sweatshop labor, Amazon’s carefully-crafted image as a “cool” company is, well, getting fried in negative headlines and online chatter.

Thus, Bezos (known for thinking outside the cage), has hired a flock of tweety birds to counter the negativity. They are former warehouse workers who now tweet full-time about how absolutely wonderful those warehouse jobs are. The tweeters tell us that air circulation in the warehouses is “very good;” in a 10-hour shift, they assure us, lucky workers get not one, but two 30-minute breaks; and they’re even allowed bathroom breaks (within reason, of course).

Bezos has given his Twitter testifiers the title of Amazon “ambassadors,” and each of their Twitter accounts is branded to look alike, topped with the corporation’s happy smile logo. It’s claimed that the tweeters are not scripted or told what to write — but you can bet every tweet is monitored by corporate supervisors. And note that Amazon won’t let reporters interview any of them.

As Sen. Bernie Sanders said of this PR gimmick: “If Amazon actually paid all its workers a living wage and treated them with dignity, they would not have to pay dozens of people to tweet all day.”
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Old 09-15-2018, 10:51 AM   #21
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I didn't ignore your point, nitwit - I pointed out your double standard.
Here's the double-standard.

Living in cars, working for Amazon: meet America's new nomads
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Old 09-15-2018, 01:07 PM   #22
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The double standard is that you're "concerned" about the welfare of Amazon's workers but not Walmart's workers.

Do I need to draw this with crayons for you?
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