UnRisk 8

Mike Bloomberg and George Soros Invest Millions to Aid Minority Youth

The administration of Mayor Michael R. Bloomberg, in a blunt acknowledgment that thousands of young black and Latino men are cut off from New York’s civic, educational and economic life, plans to spend nearly $130 million on far-reaching measures to improve their circumstances.

o pay for the endeavor in a time of fiscal austerity, the city is relying on an unusual source: Mr. Bloomberg himself, who intends to use his personal fortune to finance about a quarter of the cost, city officials said. A $30 million contribution from Mr. Bloomberg’s foundation would be matched by that of a fellow billionaire, George Soros.

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California Woman Sent Dozens to College for 20+ Years (video)

Wow, what an impressive woman!

40 American Billionaires Pledge to Give at Least Half Their Fortunes to Charity

Warren Buffett says he and Bill Gates have pledges from 40 of America's wealthiest individuals and families to give away at least half their fortunes to charity.

The following excerpts have been taken from letters written by pledge signatories on their personal motivation to give.

• Laura and John Arnold: “We view our wealth in this light – not as an end in itself, but as an instrument to effect positive and transformative change.”

• Michael R. Bloomberg: “If you want to do something for your children and show how much you love them, the single best thing – by far – is to support organizations that will create a better world for them and their children. And by giving, we inspire others to give of themselves, whether their money or their time.”

• Eli and Edythe Broad: “Those who have been blessed with extraordinary wealth have an opportunity, some would say a responsibility – we consider it a privilege – to give back to their communities, be they local, national or global.”

• Warren Buffett: “Were we to use more than 1% of my claim checks (Berkshire Hathaway stock certificates) on ourselves, neither our happiness nor our well-being would be enhanced. In contrast, that remaining 99% can have a huge effect on the health and welfare of others.”

• Bill and Melinda Gates: “We have been blessed with good fortune beyond our wildest expectations, and we are profoundly grateful. But just as these gifts are great, so we feel a great responsibility to use them well. That is why we are so pleased to join in making an explicit commitment to the Giving Pledge.” • Barron Hilton: “It is my hope that others are inspired by my father’s story, and by our family’s steadfast adherence to his charitable philosophy.”

• Jon and Karen Huntsman: “It has been clear to me since my earliest childhood memories that my reason for being was to help others.”

• George B. Kaiser: “I had the advantage of both genetics (winning the “ovarian lottery”) and upbringing. As I looked around at those who did not have these advantages, it became clear to me that I had a moral obligation to direct my resources to help right that balance.”

• Gerry and Marguerite Lenfest: “The ultimate achievement in life is how you feel about yourself. And giving your wealth away to have an impact for good does help with that feeling."

• Lorry I. Lokey: “There’s an old saying about farmers putting back in to the ground via fertilizer what they take out. So it is with money. The larger the estate, the more important it is to revitalize the soil.”

• George Lucas: “My pledge is to the process; as long as I have the resources at my disposal, I will seek to raise the bar for future generations of students of all ages. I am dedicating the majority of my wealth to improving education.”

• Tashia and John Morgridge: “The more personally involved we have become with the causes we support the more effective we seem to be.”

• Peter G. Peterson: “As I watched and learned from my father’s example, I noticed how much pleasure his giving to others gave him. Indeed, today, I get much more pleasure giving money to what I consider worthwhile causes than making the money in the first place.”

• David Rockefeller: “Our family continues to be united in the belief that those who have benefitted the most from our nation’s economic system have a special responsibility to give back to our society in meaningful ways.”

• Jeff Skoll: “The world is a vast and complicated place and it needs each of us doing all we can to ensure a brighter tomorrow for future generations.”

• Tom Steyer and Kat Taylor: “Surely the pleasure we derive from St. Francis’ active verbs of consoling, understanding, loving, giving and pardoning far outweigh any selfish and passive pleasures of owning, having, or possessing.”

• Ted Turner: “I’m particularly thankful for my father’s advice to set goals so high that they can’t possibly be achieved during a lifetime and to give help where help is needed most. That inspiration keeps me energized and eager to keep working hard every day on giving back and making the world a better place for generations to come.”

• Sanford and Joan Weill: “Our Pledge is this: We will continue to give away all of the wealth we have been so fortunate to make except for a very small percentage allocated to our children and grandchildren between now and the time we pass because we are firm believers that shrouds don’t have pockets.”

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