ACTUAL SERIOUS QUESTION: what should a friend of mine do with several million dollars?

Message Bookmarked
Bookmark Removed
a good friend of mine is an heir, or was, semantically, since he's now inherited.

i'm guessing at the dollar figure since he's private abt the numbers, but i'm sure it's pretty big. over breakfast this morning we about our continuing tour thru our political hellzone, and he said he was determined to do SOMETHING with it instead of just sitting on it (he has plenty already, this is from a recent death).

so, what would you do? he's not soros, but i gather it's greater than the order of just making some big donations.

do any ilxors have any experience with endowments/charities/think tanks, etc??

g--ff (gcannon), Wednesday, 3 November 2004 19:44 (twenty-one years ago)

What shouldn't he do?

Kevin Gilchrist (Mr Fusion), Wednesday, 3 November 2004 19:47 (twenty-one years ago)


leave the country

mexor, Wednesday, 3 November 2004 19:51 (twenty-one years ago)

invest in oil futures

trigonalmayhem (trigonalmayhem), Wednesday, 3 November 2004 20:16 (twenty-one years ago)

Invest in my wife's opera career! Seriously! She would love to have a patron!

The Ghost of Dan Perry (Dan Perry), Wednesday, 3 November 2004 20:17 (twenty-one years ago)

actual serious question, thx.

g--ff (gcannon), Wednesday, 3 November 2004 20:17 (twenty-one years ago)

I AM TOTALLY SERIOUS.

The Ghost of Dan Perry (Dan Perry), Wednesday, 3 November 2004 20:18 (twenty-one years ago)

It would be nice if some of the money could go to aid for people in Iraq and Afghanistan.

Leon in Exile (Ex Leon), Wednesday, 3 November 2004 20:19 (twenty-one years ago)

dan's is the best so far, tho (haha xpost)

g--ff (gcannon), Wednesday, 3 November 2004 20:19 (twenty-one years ago)

I would buy some land, away from everything, and just let it grow and be wild.

I'd keep a million or so and live a simple life.

jel -- (jel), Wednesday, 3 November 2004 20:20 (twenty-one years ago)

fund a website to help teenagers and other young people understand and embrace the progressive agenda so they'll vote that way their whole lives.

not coincidentally, I know the perfect website already and we have a plan. and it wouldn't take more than a tiny fraction of his "millions," either.

g--ff, email me at expresso2222@gmail.com

Begs2Differ (Begs2Differ), Wednesday, 3 November 2004 20:20 (twenty-one years ago)

I wouldn't work, as I would be denying a job to someone who needs it more.

jel -- (jel), Wednesday, 3 November 2004 20:21 (twenty-one years ago)

Honestly if he's going to give aid there's plenty of people in America getting fucked over by Bush's policies as well, so he should save a bit for them :\

If I had several million dollars, I know exactly what I would do with it but it wouldn't help your friend so I will not share. I think he should go on holiday and then invest the rest.

Allyzay Science Explosion (allyzay), Wednesday, 3 November 2004 20:21 (twenty-one years ago)

start a business and hire some people.

come to los angeles and take me to a bunch of laker games.

dan (dan), Wednesday, 3 November 2004 20:21 (twenty-one years ago)

will do, begs2.

g--ff (gcannon), Wednesday, 3 November 2004 20:23 (twenty-one years ago)

I am still completely serious.

If you're balking at the idea of recommending he throw a bunch of money at someone he's never heard sing, he now has enough money to fly to Boston and check out one of my wife's shows. Or he could make a donation to an artistic group, or create a spot for an up-and-coming singer at some opera house.

The Ghost of Dan Perry (Dan Perry), Wednesday, 3 November 2004 20:23 (twenty-one years ago)

I like both Begs and Dan's plans, honestly.

Ned Raggett (Ned), Wednesday, 3 November 2004 20:24 (twenty-one years ago)

send some here

gabbneb (gabbneb), Wednesday, 3 November 2004 20:25 (twenty-one years ago)

actually geoff try my other email listed below

Begs2Differ (Begs2Differ), Wednesday, 3 November 2004 20:27 (twenty-one years ago)

ok, and thx gabbneb, as always.

g--ff (gcannon), Wednesday, 3 November 2004 20:30 (twenty-one years ago)

well, investing in oil futures is a great way to double his money pretty quickly.

trigonalmayhem (trigonalmayhem), Wednesday, 3 November 2004 20:31 (twenty-one years ago)

The best thing to do with it would be to start a private foundation to disperse funds. Create a small endowment and invest to multiply the money over time and say "I'll spend x- amount per year and would like to advance such-and-such agenda." You could accept solicitations for donations or not. Many foundations work quite well by giving smallish donations that are particularly targeted. A large blanket donation can offer less assistance in some cases.

mcd (mcd), Wednesday, 3 November 2004 20:32 (twenty-one years ago)

Private charitable foundations always seem like a bit of an ego trip to me. Why not just give it to an efficient, pre-existing charity? Or are they all less efficient than one can manage oneself?

Alba (Alba), Wednesday, 3 November 2004 20:35 (twenty-one years ago)

I think that if the goal is an ego-stroking gesture of goodwill, an enduring one that you can direct towards many different and varied charities is better than blowing your wad all at once and losing the glow after eight weeks go by.

The Ghost of Dan Perry (Dan Perry), Wednesday, 3 November 2004 20:36 (twenty-one years ago)

(Um, that sounds a hell of a lot more dismissive and mean than was intended. Sorry.)

The Ghost of Dan Perry (Dan Perry), Wednesday, 3 November 2004 20:36 (twenty-one years ago)

If I had it I would set up a not for profit company that used the money to generate more money to be used to benefit my community. But before that, I'd skim a bit off the top to ensure I never had to work again.

dave225 (Dave225), Wednesday, 3 November 2004 20:37 (twenty-one years ago)

http://www.ruralstudio.com/

A program set up with the Auburn U. architecture school, students live and work in Hale County, Alabama (cf. Walker Evans and James Agee's _Let Us Now Praise Famous Men_, one of the poorest counties in America) designing and building sustainable, low-cost architecture for people. Houses, community centers, chapels, baseball parks. A smallish donation (given the context you're talking about) could do some incredible things in Hale County.

Most of all, I'd beg him not to give it to Moveon or any type of Soros-esque political activity. That has its place, but a much greater good can be done helping people in need. College scholarships for at-risk/low-income teens, every night shelter on Earth could use more funding, helping fund music and arts education in nearby urban communities, etc.

milozauckerman (miloaukerman), Wednesday, 3 November 2004 20:42 (twenty-one years ago)

Your friend needs to do some serious thinking about how he thinks the world works and where some good can be done.

For example, there is a lot of physical suffering in the third world that could be alleviated with a million dollars' worth of vaccinations or clean water. But he needs to think through whether the 'real' root of that suffering is overpopulation, undereducation, undercapitalization, environmental degradation or something else. The trick is to find the fulcrum point where his money can exert the most leverage.

But if he just wants to give away money and feel good, that's ridiculously easy.

Aimless (Aimless), Wednesday, 3 November 2004 20:45 (twenty-one years ago)

Yeah, I think there are lawyers that specialise in charitable contributions, foundations etc. who would help hime find the best way to use his money.

Kevin Gilchrist (Mr Fusion), Wednesday, 3 November 2004 20:49 (twenty-one years ago)

Aimless and Kevin have real good advice

A Nairn (moretap), Wednesday, 3 November 2004 20:50 (twenty-one years ago)

I definitely agree on the fulcrum notion. I'm sure your friend doesn't have as much $ as Soros, but I wish Soros had put his money into buying media outlets rather than just paying for ad spots. A real wasted opportunity to me.

I'm fairly convinced that an effective media is essential to a healthy democracy-- which is essential to a healthy society. Without a media that actually investigates and educates, democracy is for shit. It's amazing what people don't know.

Here, we just started up an LPFM community radio station. It's all volunteer run and dedicated to giving voice to those ideas and sounds not usually heard, to creating healthy dialogue, to educate and entertain, and to get people involved in the process of their own media.

I just imagine what could be done with a few well placed radio stations. Air America is one thing, but there's so many other good opportunities out there.

But, really, what does he feel are the most pressing issues. What are the leverage points? How would/could his money help? Money is handy, but disappears far to easily. What application really presses for fundamental change?

nick ring (nick ring), Wednesday, 3 November 2004 21:42 (twenty-one years ago)

He should give it to me, d'oh!

Okay, seriously, I agree more or less with what aimless said. Your friend should decide what he wants to do and why without thinking of what he "ought" to do or anything else. Donating to a charity or setting up an organization is probably not the most efficient way of doing it, whatever it is, though.

mouse (mouse), Wednesday, 3 November 2004 23:45 (twenty-one years ago)

Your friend should decide what he wants to do and why without thinking of what he "ought" to do or anything else.

There are limits to this approach though. If he wants to use it to set up an amorphous international network of terrorist cells, say, I'd rein him in.

Alba (Alba), Wednesday, 3 November 2004 23:48 (twenty-one years ago)

I'm all for buying huge plots of land adjacent to nature preserves and keeping them private during your lifetime, willing them to refuges and conservancy groups after your death.

Remy (x Jeremy), Thursday, 4 November 2004 01:46 (twenty-one years ago)

When I was kid I always wanted to grow up and buy as much undeveloped land in TX as possible and then just let it be.

Of course now I am grown up and I can't even afford to buy a lot for a tiny house in the ghettos where I rent/teach. :(

(obv. I say put it towards education, by very specific measures.)

Miss Misery (thatgirl), Thursday, 4 November 2004 02:02 (twenty-one years ago)

If he wants to look outside the U.S., there are some good projects related to Haiti. Konbit Sante ( http://www.konbitsante.org/ ) (full disclosure: my father is Vice President of the organization) is one of them.

C0L1N B3CK3TT (Colin Beckett), Thursday, 4 November 2004 02:15 (twenty-one years ago)

Yeah... Haiti's rather in need of humanitarian aide.

Remy (x Jeremy), Thursday, 4 November 2004 04:34 (twenty-one years ago)

Give a few hundred here

http://www.tjpappasschool.org/donations.html

Allyzay Science Explosion (allyzay), Thursday, 4 November 2004 05:10 (twenty-one years ago)

the US is in need to humanitarian aid also.
children go hungry here, old people can't afford their heating bills, no one can get health care if they aren't working at a job with benefits, no working poor person, poor person, jobless, can afford prescriptions for chronic conditions, emergency rooms in LA are closing for lack of funding. Spend the money here, since the government isn't.

Orbit (Orbit), Thursday, 4 November 2004 05:14 (twenty-one years ago)

Yeah, Haitians are already enjoying too much government largesse.

C0L1N B3CK3TT (Colin Beckett), Thursday, 4 November 2004 07:02 (twenty-one years ago)

Haha ouch

The Ghost of Dan Perry (Dan Perry), Thursday, 4 November 2004 15:47 (twenty-one years ago)

Jel thought of my answer first.

Matt (Matt), Thursday, 4 November 2004 15:48 (twenty-one years ago)

Elaborate. Practical. Jokes.

Jarlr'mai (jarlrmai), Thursday, 4 November 2004 15:51 (twenty-one years ago)

Jim stole my other answer.

Matt (Matt), Thursday, 4 November 2004 16:26 (twenty-one years ago)


You must be logged in to post. Please either login here, or if you are not registered, you may register here.