US billionaire plans giving spree - GoFuckYourself.com

DVTimes · 02-23-2004, 10:15 AM

http://news.bbc.co.uk/1/hi/world/americas/3513903.stm

US billionaire plans giving spree

An American billionaire with a penchant for charity wants to give away all of his money before he dies.
Cable TV baron H.F. "Gerry" Lenfest, 73, has already given away about a third of a billion dollars.

Now he and his wife, Marguerite, have resolved to put their entire fortune into charitable trusts, according to a report by Associated Press.

It means the Lenfests' three children, who are already very wealthy, will not get another cent.

Self-made man

Mr Lenfest spent nearly 30 years building up his business, Suburban Cable, which he began with a $2.3m loan, but eventually sold to the giant media group Comcast for $1.2bn.

He has spent most of the last four years donating his money to good causes, mainly universities and education programmes, and institutions for the arts.

Columbia Law School has recently opened a new residential hall named in honour of its alumnus and benefactor.
Mr and Mrs Lenfest have given orders that charities should spend all of their cash within 20 years of their death.

The philanthropist lamented that he would lose his grip on the purse strings when he dies.

"During your lifetime, you can direct how your wealth is spent for the most good," he said.

"But after your death, it is problematic. You don't have the control."

The Lenfests follow a tradition of philanthropy among America's self-made men and women.

Bill Gates, founder of Microsoft, has also given away millions through his own charitable projects.

Nubianprince · 02-23-2004, 10:17 AM

hmmm.. i wonder if he wouldnt want to give a broke ass webmaster some of that dough !

TurboAngel · 02-23-2004, 10:19 AM

Quote:

Originally posted by Nubianprince
hmmm.. i wonder if he wouldnt want to give a broke ass webmaster some of that dough !

I 2nd that!

Webmistress Pookie · 02-23-2004, 02:37 PM

I could use a cut of that pie myself

quiet · 02-23-2004, 02:38 PM

very fucking cool

mardigras · 02-23-2004, 02:44 PM

Maybe we should form "Broke Ass Webmasters*" and approach them as a charity

*BAssmasters

02-23-2004, 10:15 AM	#1
DVTimes xxx Industry Role: Join Date: Jun 2003 Location: UK Posts: 31,547	US billionaire plans giving spree http://news.bbc.co.uk/1/hi/world/americas/3513903.stm US billionaire plans giving spree An American billionaire with a penchant for charity wants to give away all of his money before he dies. Cable TV baron H.F. "Gerry" Lenfest, 73, has already given away about a third of a billion dollars. Now he and his wife, Marguerite, have resolved to put their entire fortune into charitable trusts, according to a report by Associated Press. It means the Lenfests' three children, who are already very wealthy, will not get another cent. Self-made man Mr Lenfest spent nearly 30 years building up his business, Suburban Cable, which he began with a $2.3m loan, but eventually sold to the giant media group Comcast for $1.2bn. He has spent most of the last four years donating his money to good causes, mainly universities and education programmes, and institutions for the arts. Columbia Law School has recently opened a new residential hall named in honour of its alumnus and benefactor. Mr and Mrs Lenfest have given orders that charities should spend all of their cash within 20 years of their death. The philanthropist lamented that he would lose his grip on the purse strings when he dies. "During your lifetime, you can direct how your wealth is spent for the most good," he said. "But after your death, it is problematic. You don't have the control." The Lenfests follow a tradition of philanthropy among America's self-made men and women. Bill Gates, founder of Microsoft, has also given away millions through his own charitable projects. __________________ The Affiliate Program

02-23-2004, 10:17 AM	#2
Nubianprince Confirmed User Industry Role: Join Date: Nov 2002 Location: Canada Posts: 677	hmmm.. i wonder if he wouldnt want to give a broke ass webmaster some of that dough ! __________________ XVIDEOS WEBCAMS -/- MADE WITH A CUSTOM WP PLUGIN

02-23-2004, 02:38 PM	#5
quiet we'll miss you our friend. RIP Industry Role: Join Date: Sep 2001 Location: Fernie, BC Posts: 25,115	very fucking cool __________________ we'll miss you our friend. RIP

02-23-2004, 02:44 PM	#6
mardigras Bon temps! Join Date: Feb 2003 Location: down yonder Posts: 14,194	Maybe we should form "Broke Ass Webmasters" and approach them as a charity BAssmasters __________________ .

02-23-2004, 02:37 PM	#4
Webmistress Pookie Confirmed User Join Date: Feb 2004 Location: in front of the computer Posts: 243	I could use a cut of that pie myself