| Giving half of the wealth? | |
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| Aug 25, 2010 22:52 |   |
 | Warren Buffett and Bill Gates has started a new campaign to persuade fellow billionaires to commit half of their wealth to good causes, called “the Giving Pledge”. So far, 40 billionaires have promised to join the campaign. The pledge is a moral commitment to give, not a legal contract. It does not involve pooling money or supporting one cause or organization. It's up to each person who signs the pledge how to divvy up their wealth. However, some rich guys also have refused to sign the pledge. German shipping millionaire Peter Kramer called it “a bad transfer of power from the state to billionaires”. He thinks that the giving pledge is a way for the ultra rich to avoid taxes and donate to their favorite interests and hobbies. The US government charges heavy legacy tax. If you have more than 3 million dollars, you need to pay 55 percent as the legacy tax. Thus, some of them just invest their money to charity organizations or foundations to avoid paying legacy tax. How about those Chinese millionaires and billionaires? It is said that Bill Gates and Warren E. Buffett will come to China next month to persuade them to sign the Giving Pledge. To me, I afraid that Gates and Buffett will be disappointed in their China trip. The charity is not mature in China. Few Chinese guys will join this campaign. What do you think? |
Last edited by LONELYJOURNEY: Aug 25, 2010 22:52 | |
| Aug 26, 2010 06:40 | #1 |
| If they have too much money, they can give some to me, I am a charity |
| Aug 26, 2010 12:10 | #2 |
| Damn, Dave, I am late again. Ok, I am next on the line if there is something left after donating to you. Carlos |
| Aug 27, 2010 01:02 | #3 |
| If I get a wedge Carlos I can share with you too, I am not greedy |
| Aug 29, 2010 02:14 | #4 |
| The money is theirs. I don't care how they deal with it. I just care how I can make more money. I don't think Warren Buffett and Bill Gates can persuade any Chinese billionaire or millionaire successfully. |
| Sep 5, 2010 02:28 | #5 |
| No way. According to the news, some wealthy Chinese guys who have received the invitation letter have refused to have dinner with Warren Buffett and Bill Gates. They are afraid that Buffett and Gates might require them to make their commitment to give up their wealth. To those guys, having dinner together is no problem. But giving up their wealth is a big problem. I never expect those rich guys give up their wealth. Whether they donate their wealth or not is none of my business. However, you should have kept your promise once you made your promise. Jackie Chan once promised to donate his dividend from Da Bin Xiao Jiang (a movie made by him). He pomised to donate the money to a school in Wenchuan area. However, the school said that they didn't receive any money from Jackie Chan. I am disappointed at him. |
| Sep 5, 2010 22:34 | #6 |
| BBQQ, Such things have happened many times in China. Some rich people or entertainment stars just make charity as show business. Look at Zhang Ziyi. She promised to donate 1 million to China's Red Cross Society. But she just donated 840000. Later, the public learnt about it. Zhang Ziyi had no other choice but took out 160000. Some enterprises did the same thing like those entertainment stars. This year, a heavy earthquake attacked Yushu area in Qinghai. A gala was held to raise money for the victims in that area. Some enterprises wanted to take this opportunity to advertise themselves. This time, they were required to donate the money first. After the charity organizations confirmed that they received the money, these enterprises appeared on the TV. Really sad. If you promise to donate money, just keep your promise. Otherwise, how could we believe an enterprise that breaks his promise? |
| Sep 5, 2010 22:46 | #7 |
| PS: Chen Guangbiao, one of the richest Chinese people, has released an open letter. In his letter, he claims that he will donate all his property after he dies. He also says "It is an humiliation for him to die as a rich guy." Can we take it as his promise? |
| Sep 12, 2010 04:20 | #8 |
| Chow Yun fat said to newspapers that he will donate all of his wealth after his death. It seems the situation for their canvass to China is not that bad as we think./ |
| Sep 12, 2010 21:45 | #9 |
| That sounds good, ELLIOTT. As I said before, my concern is whether they will keep their promises when the day comes. If you make a promise, just keep it. Don't eat your words. |
| Sep 13, 2010 19:30 | #10 |
| 龔如心 born in SH and established her world wide biz empire in HK, the richest woman in Asia had her whole estate donated to charity. |
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