Billionaire Couple Donate $10MILLION to Keep Initiatives for Poor Open

[Gatsby]

[IMG]http://www.happynews.com/showImage.aspx?fn=1082013/billionaire-couple-donate-10million-keep-head-start-initiatives-america.jpg&catid=10[/IMG]

[QUOTE]A billionaire couple have forked out $10 million of their own cash to pay for care for some of the poorest children in society amid the continuing US Government shutdown.
Laura and John Arnold have dipped into their personal fortune of $2.8 billion to reopen seven Head Start programmes in six states.
The couple started a charity foundation in 2008, although this money is being made as a personal donation.
Their publicist Gary Larson said: 'The Arnolds were both quite moved after learning about the impact the government shutdown would have on so many Head Start children, so they came forward personally, rather than through their foundation, and offered this assistance as their way of helping.[/QUOTE]

[url]http://www.dailymail.co.uk/news/article-2449407/Billionaire-couple-John-Laura-Arnold-donate-10m-help-poor-families.html[/url]

[FalcoLombardi]

He looks pretty smug

edit:

I didn't mean it in a negative way jeez

[Thlis]

[QUOTE=FalcoLombardi;42517349]He looks pretty smug[/QUOTE]

You can be as smug as you want to be after donating 10 million dollars to charity.

[Rangergxi]

Strange how people are angry about them not donating more.

[ashxu]

It's surreal to think that 10 million is probably a drop in the ocean for them. Most of us probably won't ever see 1 million, let alone 10.

[Mud]

[QUOTE=Rangergxi;42517363]Strange how people are angry about them not donating more.[/QUOTE]

People fail to understand the value of 10 million dollars

[EmperorScorpious]

[QUOTE=Rangergxi;42517363]Strange how people are angry about them not donating more.[/QUOTE]

Some people won't be satisfied until the rich are below the poverty line.

[Gatsby]

[QUOTE=FalcoLombardi;42517349]He looks pretty smug[/QUOTE]

Well of course, you think when the cameraman took his photo he was planning to make some sort of depressed angst face after donating money?

[Lookashoe]

If i was a billionaire, i would only keep like 10mil (probably not even that) for myself and retire asap. Then donate the rest to charity/appeals for sick children and "good family's" who are struggling and not benefiting from government payouts i.e people who aren't blatantly abusing the funding of government to people in need. If you are too lazy to get a job, then you should be homeless, unless you have an illness (other then being fat or a drug addict).

[BlackhawkGT]

You can atleast see that some billionaires do care about the poor though.

[Rangergxi]

[QUOTE=mchapra;42517379]People fail to understand the value of 10 million dollars[/QUOTE]

Well these guys have already given away like 500 Million.

[Fahrenheit]

Just because someone has a "Net Worth" of 2.6 Billion doesn't mean they actually have that kind of cash.

I'm sure most of it is tied up in bonds, real estate, assets, etc.

Ten million dollars is still a lot for them just to donate.

[Drsalvador]

[QUOTE=Lookashoe;42517389]If i was a billionaire, i would only keep like 10mil (probably not even that) for myself and retire asap. Then donate the rest to charity/appeals for sick children and "good family's" [/quote]

No you wouldn't.

[quote]who are struggling and not benefiting from government payouts i.e people who aren't blatantly abusing the funding of government to people in need. If you are too lazy to get a job, then you should be homeless, unless you have an illness (other then being fat or a drug addict).[/QUOTE]

This is despicable, too.

[Gatsby]

[QUOTE=Lookashoe;42517389]If i was a billionaire, i would only keep like 10mil (probably not even that) for myself and retire asap. Then donate the rest to charity/appeals for sick children and "good family's" who are struggling and not benefiting from government payouts i.e people who aren't blatantly abusing the funding of government to people in need. If you are too lazy to get a job, then you should be homeless, unless you have an illness (other then being fat or a drug addict).[/QUOTE]

Throwing money at things don't work much at tbh and most charities are not effective and alot of donated money never goes to the people who the charities are aimed at.

Maybe using your money to improve the community and increase opportunities for the less fortunate. Try to get kids off the ghetto, make sure the public schools doesnt have cold war era textbooks. It's a bit like that "give a man a fish you feed him for a day, teach him how to go fishing will feed him forever" kinda thing.

[Grenadiac]

[QUOTE=Lookashoe;42517389]If i was a billionaire, i would only keep like 10mil (probably not even that) for myself and retire asap. Then donate the rest to charity/appeals for sick children and "good family's" who are struggling and not benefiting from government payouts i.e people who aren't blatantly abusing the funding of government to people in need. If you are too lazy to get a job, then you should be homeless, unless you have an illness (other then being fat or a drug addict).[/QUOTE]

No you wouldn't

[wranglor]

[QUOTE=FalcoLombardi;42517349]He looks pretty smug

edit:

I didn't mean it in a negative way jeez[/QUOTE]

I tried so hard, and got so far. In the end it doesn't even matter...

[Ricaaado]

Sharing the wealth, aww yeah

[Impulse 101]

They remind me of Elliot and Gretchen except they're not dicks

[Trunk Monkay]

[QUOTE=ashxu;42517376]It's surreal to think that 10 million is probably a drop in the ocean for them. Most of us probably won't ever see 1 million, let alone 10.[/QUOTE]

Most people will make several million in their life times, it's just that they won't have all that money at one point in time. Even if you work a $30,000 a year job from the time you're 18-65, thats still over a million bucks earned after taxes.

[theVendetta]

Spoilers probs

[url]http://i.imgur.com/ohUJhOK.jpg[/url]

[🅱️🅰️LLS. ➿]

[QUOTE=theVendetta;42518279]Spoilers probs

[url]http://i.imgur.com/ohUJhOK.jpg[/url][/QUOTE]
It's uncanny how similar they look.

[Jeller]

[QUOTE=theVendetta;42518279]Spoilers probs

[url]http://i.imgur.com/ohUJhOK.jpg[/url][/QUOTE]

I thought the exact same thing when I clicked this thread!

[Egevened]

cheer up, happy people.

[Killuah]

What die they do to become billionaires?

[sir whoopsalot]

[QUOTE=theVendetta;42518279]Spoilers probs

[url]http://i.imgur.com/ohUJhOK.jpg[/url][/QUOTE]

Just for the rest of y'all, it's Breaking Bad.
If it's 'probs spoilers', you might wanna mention what they're from.

[JustExtreme]

Good on them but they shouldn't really have been able to accumulate and hoard such a vast amount of capital in the first place.

[Maucer]

[QUOTE=JustExtreme;42519081]Good on them but they shouldn't really have been able to accumulate and hoard such a vast amount of capital in the first place.[/QUOTE]

Why? Big capital is necessary for big projects. 10 million is a lot, but not that much when we talk about business, infrastructure and big projects. Bill and Melinda Gates Foundation would never have been established if gates had given all extra away after his first millions.

[Aries]

snip

[Killuah]

[QUOTE=Maucer;42519159]Why? Big capital is necessary for big projects. 10 million is a lot, but not that much when we talk about business, infrastructure and big projects. Bill and Melinda Gates Foundation would never have been established if gates had given all extra away after his first millions.[/QUOTE]

The difference is that this is private capital and "big projects" are usually financed by some kind of organization.
Of course speculation a la "what if" are futile but the point stands that you can not accumulate that much wealth without screwing some people.

[editline]14th October 2013[/editline]

[quote]Mr Arnold made his fortune as a hedge fund manager. [/quote]

He is part of the system that made these people "low-income parents" in the first place.

[editline]14th October 2013[/editline]

[url]http://en.wikipedia.org/wiki/John_D._Arnold[/url]

ffs He's part of the Enron collapse.

[editline]14th October 2013[/editline]

[quote]Arnold has funded various politically-oriented 501(c)4 organizations, including Engage Rhode Island.[33] Many of the these organizations advocate pension fund reform, encourage state and local governments to reduce benefits to workers and to invest assets in riskier investments such as hedge funds.[34] Some have criticized his efforts, saying that hedge fund managers, such as himself, collect generous sums in fees for managing the funds, while the workers are left with reduced pensions[/quote]

[bunguer]

[QUOTE=Killuah;42519385]The difference is that this is private capital and "big projects" are usually financed by some kind of organization.
Of course speculation a la "what if" are futile but the point stands that you can not accumulate that much wealth without screwing some people.

[editline]14th October 2013[/editline]

He is part of the system that made these people "low-income parents" in the first place.

[editline]14th October 2013[/editline]

[url]http://en.wikipedia.org/wiki/John_D._Arnold[/url]

ffs He's part of the Enron collapse.

[editline]14th October 2013[/editline][/QUOTE]

That wikipedia even says "In 2011, Arnold donated over $100 million to different causes[26][27] including the Laura and John Arnold Foundation which they founded. In 2012 they gave away or pledged $423 million" which is a good thing.

How does being an hedge fund manager make him one of those that made these people "low-income parents"? It's a job like any other, and it's very very risky, most hedge fund managers are remunerated much less and many don't even make money at all.

I'm not saying the system is 100% right either, but it's a very competitive industry with a lot of risk, and it seems you're implying this action has less value because how he made the money.