◼ Bill Gates tried to get hedge fund founder Robert W. Wilson, who committed suicide over the weekend, to join his giving pledge. Wilson, who gave away hundreds of millions of dollars of his personal fortune on his own, politely told Gates he wanted to “stay far away” from his effort. - Buzzfeed
__________________
From: Robert W. Wilson
Sent: Wednesday, June 16, 2010 12:16 PM
To: Bill Gates
Subject: Re: Giving Pledge discussion
Mr. Gates, I decided more than ten years ago to try to give away 70% of my net worth and have already given away one-half billion dollars. (I’ve never been a Forbes 400) So I really don’t have to take the pledge.
Your “Giving Pledge” has a loophole that renders it practically worthless, namely permitting pledgees to simply name charities in their wills. I have found that most billionaires or near billionaires hate giving large sums of money away while alive and instead set up family-controlled foundations to do it for them after death. And these foundations become, more often than not, bureaucracy-ridden sluggards. These rich are delighted to toss off a few million a year in order to remain socially acceptable. But that’s it.
I’m going to stay far away from your effort. But thanks for thinking of me. Cordially
__________________
From: Robert W. Wilson
To: Bill Gates
Sent: Saturday, June 19, 2010 4:15 PM
Subject: Re: Giving Pledge discussion
Mr. Gates, thanks much for your email. But as my previous email indicated, I wouldn’t have much fun or add much value to this group. You, being a liberal, think you can change people more than I think.
But let me make one comment. When I talk to young people who seem destined for great success, I tell them to forget about charities and giving. Concentrate on your family and getting rich—which I found very hard work. I personally and the world at large are very glad you were more interested in computer software than the underprivileged when you were young. And don’t forget that those who don’t make money never become philanthropists.
When rich people reach 50 and are beginning to slow down is the time to begin engaging them in philanthropy.
I’d greatly appreciate just leaving it at that. Cordially
__________________
From: Robert W. Wilson
Sent: Wednesday, June 16, 2010 12:16 PM
To: Bill Gates
Subject: Re: Giving Pledge discussion
Mr. Gates, I decided more than ten years ago to try to give away 70% of my net worth and have already given away one-half billion dollars. (I’ve never been a Forbes 400) So I really don’t have to take the pledge.
Your “Giving Pledge” has a loophole that renders it practically worthless, namely permitting pledgees to simply name charities in their wills. I have found that most billionaires or near billionaires hate giving large sums of money away while alive and instead set up family-controlled foundations to do it for them after death. And these foundations become, more often than not, bureaucracy-ridden sluggards. These rich are delighted to toss off a few million a year in order to remain socially acceptable. But that’s it.
I’m going to stay far away from your effort. But thanks for thinking of me. Cordially
From: Robert W. Wilson
To: Bill Gates
Sent: Saturday, June 19, 2010 4:15 PM
Subject: Re: Giving Pledge discussion
Mr. Gates, thanks much for your email. But as my previous email indicated, I wouldn’t have much fun or add much value to this group. You, being a liberal, think you can change people more than I think.
But let me make one comment. When I talk to young people who seem destined for great success, I tell them to forget about charities and giving. Concentrate on your family and getting rich—which I found very hard work. I personally and the world at large are very glad you were more interested in computer software than the underprivileged when you were young. And don’t forget that those who don’t make money never become philanthropists.
When rich people reach 50 and are beginning to slow down is the time to begin engaging them in philanthropy.
I’d greatly appreciate just leaving it at that. Cordially
