CHECK WITH THE KIDS BEFORE YOU GIVE AWAY THE STORE
howardtullman.substack.com
For years now we’ve been told about billionaires joining the Giving Pledge ( See https://en.wikipedia.org/wiki/The_Giving_Pledge.) to eventually part with large portions of their fortunes when they die. The tax avoidance advantages of such a “charitable” strategy are rarely mentioned in the self-congratulatory and aggrandizing PR announcements that trumpet these “unselfish and wonderous” gestures. And, as far as I can tell, no one has ever tracked, documented, or published the actual transfers of any funds on the occasion of any donor’s eventual passing as opposed to the slavish attention afforded to the flamboyant pledges. In fairness, since the vast bulk of the pledge makers are still in the prime of their lives (other than Warren Buffett who may live forever) and their largely tech-centric fortunes are continuing to grow (at least until the last year or two) – largely tax-free I might add – maybe we all need to be just a little more patient about the prospects of the promises turning into something more tangible.
CHECK WITH THE KIDS BEFORE YOU GIVE AWAY THE STORE
CHECK WITH THE KIDS BEFORE YOU GIVE AWAY THE…
CHECK WITH THE KIDS BEFORE YOU GIVE AWAY THE STORE
For years now we’ve been told about billionaires joining the Giving Pledge ( See https://en.wikipedia.org/wiki/The_Giving_Pledge.) to eventually part with large portions of their fortunes when they die. The tax avoidance advantages of such a “charitable” strategy are rarely mentioned in the self-congratulatory and aggrandizing PR announcements that trumpet these “unselfish and wonderous” gestures. And, as far as I can tell, no one has ever tracked, documented, or published the actual transfers of any funds on the occasion of any donor’s eventual passing as opposed to the slavish attention afforded to the flamboyant pledges. In fairness, since the vast bulk of the pledge makers are still in the prime of their lives (other than Warren Buffett who may live forever) and their largely tech-centric fortunes are continuing to grow (at least until the last year or two) – largely tax-free I might add – maybe we all need to be just a little more patient about the prospects of the promises turning into something more tangible.