this post was submitted on 27 Jun 2023
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Prominent billionaire James Crown dies in crash at Colorado racetrack (www.cbsnews.com)
submitted 1 year ago by dismalnow to c/denver
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There's not very many billionaires, and they seem to be dying with increasing frequency.

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[–] [email protected] 5 points 1 year ago* (last edited 1 year ago)

I understand that it's nowhere near the same, but I donate about 5% of my income every year - spread across 4-5 charities.

I actually have a spreadsheet that I ginned up one day to dream about what I would do if I won the Powerball. At the time, the Powerball was paying out 1.1 billion. So after taxes and dividing up with my friends, family, and some coworkers I had about $350MM.

Worked out l to be about $19.8mm per year purely from the projected appreciation of such a stack so I could keep it going forever.

Suppose you don't get to be a billionaire by being loose with your cash, but it's amazing how little they actually donate considering how losing $100MM wouldn't be felt at all.