Bill Gates Loses $11,000,000,000

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Y

Yzzim

Lifer
Feb 13, 2000
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I'll start warming up the soup at the local homeless shelter for him
rolleye.gif
 
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PsychoAndy

Lifer
Dec 31, 2000
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Theres a significant point you are missing.

Last time I checked 50% of the richest people in the world made their $ the old fashioned way.

They inherited it.

Buffett and Gates worked for their $. IIRC, so did Ellison. Self made were the other 50%.

-PAB
 
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pulse8

Lifer
May 3, 2000
20,860
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Originally posted by: Lucky
w00t for warren buffet! :) My father owns a single share in his company.
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I used to work for his former daughter in-law. :p

At least I think that's what her relation was to him. :)

 
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PsychoAndy

Lifer
Dec 31, 2000
10,735
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Originally posted by: PlatinumGold
Buffett and Gates worked for their $. IIRC, so did Ellison. Self made were the other 50%.
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Walmart fortune is on both sides of the story. didn't sam walton earn his??
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That is true. However, apples to apples (no pun intended what with gates as the thread subject) I just think that those who have what they have through inheritance shouldnt be counted with those who have it self made. Dont get me wrong, $ is $, just for a basis of comparison, I'd like to see who actually made their fortunes as opposed to being born into them.

-PAB
 
ElFenix

ElFenix

Elite Member
Super Moderator
Mar 20, 2000
102,407
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not like bill gates and michael dell didn't start life in wealthy parts of town.
 
Amused

Amused

Elite Member
Apr 14, 2001
57,504
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Hasn't Bill been giving a large portion of his money away to charitable causes?

I don't think that's all "lost." Gates has vowed to give every penny he has earned away before he dies.
 
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pulse8

Lifer
May 3, 2000
20,860
1
81
Originally posted by: Amused
Hasn't Bill been giving a large portion of his money away to charitable causes?

I don't think that's all "lost." Gates has vowed to give every penny he has earned away before he dies.
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Except for I think $20 million per child he has.

 
Amused

Amused

Elite Member
Apr 14, 2001
57,504
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Originally posted by: ElFenix
not like bill gates and michael dell didn't start life in wealthy parts of town.
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Bill Gates was born wealthy? That's news to me.
 
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Lucky

Lifer
Nov 26, 2000
13,126
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warren buffet is the same way. he plans to give the vast majority of his money to the buffett foundation. its fascinating to read his opinions on the inheritance tax and how strongly he defends it, considering the position he is in.
 
Amused

Amused

Elite Member
Apr 14, 2001
57,504
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Originally posted by: Lucky
warren buffet is the same way. he plans to give the vast majority of his money to the buffett foundation. its fascinating to read his opinions on the inheritance tax and how strongly he defends it, considering the position he is in.
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I know his position. I seriously question his sanity sometimes.
 
Vic

Vic

Elite Member
Jun 12, 2001
50,422
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Originally posted by: Amused
Originally posted by: Lucky
Gates certainly WAS born wealthy.



;)

In all seriousness, he was born into a well-off family. His father was a lawyer and he attended private school.
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Upper middle class, yes. Wealthy? No.
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VERY upper middle class. He grew up in one of the wealthiest parts of Bellevue, WA, and his dad was one of the biggest lawyers in Seattle.

edit: Bill Gates' bio from MS' own website: Link
 
L

Lucky

Lifer
Nov 26, 2000
13,126
3
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well i dont have numbers and i dont suppose it matters but wired says this: article


Gates was born October 28, 1955, the second of three children in a prominent Seattle family. His father, William Henry Gates Jr., is a name partner at one of the city's most powerful law firms, while his late mother, Mary, was an active charity fund-raiser and University of Washington regent.


everything i read indicates this was a wealthy and influential family. his private school was one of the most expensive out there at the time.

edit: this isn't to say he made his fortune of the backs of his parents; i've read they even made him come up with his own money to pay for mainframe access when he was growing up....it certainly seems he was a motivated and driven individual, but he did have some advantages.
 
ElFenix

ElFenix

Elite Member
Super Moderator
Mar 20, 2000
102,407
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Originally posted by: Amused
Originally posted by: Lucky
warren buffet is the same way. he plans to give the vast majority of his money to the buffett foundation. its fascinating to read his opinions on the inheritance tax and how strongly he defends it, considering the position he is in.
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I know his position. I seriously question his sanity sometimes.
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he has enough money to give a few billion away to the gov't and it won't impact him or his children significantly.
 
K

Kevin

Diamond Member
Jan 1, 2002
3,995
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When you can lose $11 Billion and its impact have little affect over your life, chances are it really doesn't matter where you are on the list.

And yes, around $20 Million is in trust for his children, the rest is going to charity. Mainly the Bill and Melinda Gates Foundation I suppose. I dont know why people complain that he doesn't donate enought money, just read the website here.
 
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