Heroes of Ukraine

«Market Leader» - news and previews making you rich.

Sunday, 25 July 17:55 (GMT -05:00)



Business And Politics News

Bill Gates and Warren Buffett Determining a New Fashionable Trend: Charity

Bill Gates and Warren Buffett

On 16 June Bill Gates and Warren Buffett addressed American billionaires with an unusual call - to give away half of their wealth to charity.

 

America’s rich businesspeople can make their donations after death as well by including relevant provisions in their last wills.
The charitable campaign is called The Giving Pledge. Based on its originators’ preliminary estimates, it can raise about 600 billion dollars.According to The Forbes, there are 403 billionaires living in the USA.

 

The founder of Microsoft and the owner of Berkshire Hathaway, an investment company, are willing to go down in history as the most generous rather than wealthiest people in the best traditions of the Carnegies and the Rockefellers who donated the better part of their wealth for the society’s benefit.

Interestingly, in 2004 Bill Gates became a member of the Board of Berkshire Hathaway thus formalizing his relationships with Warren Buffett.
 
With his 53 bn. dollars, Bill Gates is placed second in the latest Forbes rating and is currently known as the person who has spent most money on charity.
In 2008 Bill Gates left his full-time position in Microsoft and took up management of Bill & Melinda Gates Foundation – the world’s largest charity foundation set up in 1994 that has 26 bn. dollars of funds at its disposal.
 
The foundation’s operations are intended to improve the health care system.The foundation’s money has been used to overcome famine in poor countries, fight AIDS, TB, malaria.In the USA, the Foundation works to improve the education system.
In 2009 the Foundation provided 25 mln. dollars for computerization of public libraries in Ukraine.
 
Warren Buffett is America’s guru, the most renowned investor of recent times, the head of Berkshire Hathaway, a conglomerate that includes Geico (car insurance), Benjamin Moore (paints) and Fruit of the Loom (textiles).
With his 47 billion dollars W. Buffett is ranked third among billionaires by The Forbes.
He published his letter at The Giving Pledge site stating that he happily made a decision to transfer 99% of his capital to Bill & Melinda Gates Foundation.
 
During the year W. Buffett, B. Gates and the latter’s spouse had regular dinners with America’s wealthy elite trying to convince its representatives to go into charity.
The originators of the call assure that some people have already volunteered to join.Four billionaires have vowed their consent: Eli Broad and his wife are famous collectors prepared to contribute 75% of their 6-billion fortune; Gerry Lenfest, the owner of telecommunications-related Lenfest Enterprises, and his wife have already donated 800 million dollars.They were joined by venture investor John Doerr and John Morgridge, the ex-president of Cisco Systems.
 
Vladimir PotaninVladimir Potanin, a Russian entrepreneur, head of Interros holding, chose to follow the example of Bill Gates and Warren Buffett. Ever since late 1990-s the Russian businessman has been in the top of the list of the world’s richest people published by The Forbes.He has holdings in GKM Norilsk Nickel, AKB Rosbank, the OPIN Group, ProfMedia holding and Roza Khutor.

 

In his interview to The Financial Times Vladimir Potanin said that he intended to bequeath all his assets to charity.
It should be noted that V. Potanin was among the first Russian oligarchs to go into arts patronage by setting up V. Potanin’s Charity Foundation in 1999mainly focused on realizing the potential of the most active, gifted and well-educated young people, developing culture (supporting museums, giving grants to TEFI winners).As the businessman said he would increase contributions to his foundation to 25 million dollars.
 
According to the news agency of the Masterforex-V Trading Academy, since December 2001 V. Potanin has been a member of the Board of Trustees of Solomon Guggenheim Foundation (Solomon Robert Guggenheim (1861-1949), an American arts patron of Swiss origin, founder of the Museum of Modern Arts in New-York, created a foundation for supporting modern arts) and has been making annual donations of 1 million dollars to the Foundation.
 
Arts patronage and charity have always and invariably been held in respect.Hopefully, the large amounts raised by charitable entities will indeed be used for a good cause.

 

You are free to discuss this article here: forum for traders and investors

Text: Oleg Kulikov
Add to blog
Got a question? – Ask it here »
 

SEC Announces $10M Bounty For Whistle Blowers

Publication date: 17 September 12:38 PM

Raygan's Former Advisor Accuses the Fed of a Big Fraud

The former budget advisor under Ronal Raygan's administration, of the founders of the so-called Rayganomics, David Stockman, is a big adversary of the Federal Reserve's policies. He thinks that artificial interest rate cuts coupled with uncontrolled QE (money printing) creates madness in financial markets, thus separating asset evaluation from their intrinsic value of those assets.

Publication date: 23 August 07:32 AM

U.S. Labor Market Disappoints, Economy Slows Down

The employment rate in the United States increased by 167.000 people in July 2020. It's important to mention the fact that the data came in much worse than expected. According to Reuters, this increase was expected to reach 1.5 million people. At the same time, July's figures were much worse than those revealed in June 2020.

Publication date: 06 August 10:06 AM

iPhone as a Payment Terminal: Apple Bought a Startup For That

Apple has recently acquired Mobeewave, a startup specializing in online payments. The price of the deal is 100 million dollars. According to Bloomberg, the company's technology may allow Apple to turn iPhones into mobile payment terminals accepting mobile payments. To be more specific, Mobeewave developed a technology making it possible to make financial transactions between mobile devices through the built-in NFC module.
Publication date: 05 August 09:27 AM

China Makes Blockchain Professions Official

There are 1838 officially recognized professions in China. Now, there list is up by 2 professions - blockchain engineer and blockchain app operator. The Chinese Ministry of Human Resources and Social Security (MOHRSS) has recently confirmed that by updating the list of official professions.
Publication date: 20 July 11:42 AM

South Korea Invests Billions In Blockchain Technologies

By 2025, South Korea is planning to invest over 48 billion dollars in  blockchain. The goal is to digitize all of the industrial sectors of the national economy in this post-pandemic era. According to ZDNet Korea, the president highly rated some of the benefits this process may bring to South Korea.

Publication date: 18 July 09:40 AM

Black Lives Matter - Investors Keep Ignoring Major Riot In US In 50 Years. Why?

Everyone has probably heard of the #BlackLivesMatter riots, which have been going on in the United States for a while. However, international financial markets seem to have been underestimating this event, which happens to be the biggest riots in the USA in 50 years! Why is that?

Publication date: 18 June 07:56 AM

Donald Trump Influences Bitcoin Exchange Rate

Publication date: 05 June 04:42 AM

Only 4 Of All Existing Billionaires Made Their Fortunes With Cryptocurrencies

Forbes has recently published the list of 2095 billionaires from different parts of the world. It turns out that 4 of them owe it to cryptocurrencies. Who they are, the cryptocurrency billionaires?
Publication date: 13 April 11:54 AM

Life After Brexit: EU-UK Talks Are Underway

Publication date: 07 March 09:03 AM