It's not often that the print edition of the newspaper gives me a serious diary topic, but today was an exception. Perusing the front page of the Boston Globe, I came across a story that I simply had to share. I'm not adding a poll to see how many of you already knew; please be gentle with me if I am the Last Person To Hear About This :-)
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Most of the stereotyping of the Rich and the Ultra-Rich seems to go as follows: "It's my money and nobody else is getting their hands on it dammit."
I know this is stereotype, of course, but also that it's sadly all too true. It was a pleasure to read about a local couple defying the stereotype, Bill and Joyce Cummings. Bill made his fortune in commercial real estate - when he retired in 2005 his company held 8 million square feet of real estate and was taking in more than $90 million a year in leasing fees.
They became the first Massachusetts residents to sign the Giving Pledge. What's that, you say? According to the website:
The Giving Pledge is an effort to help address society’s most pressing problems by inviting the wealthiest American families and individuals to commit to giving more than half of their wealth to philanthropy or charitable causes either during their lifetime or after their death.
The campaign specifically targets billionaires and was made public in 2010 by the two wealthiest men in the United States, billionaires Warren Buffett and Bill Gates.
A minimum total of at least $125 billion has been promised from the first 40 donors based on their aggregate wealth as of August 2010.
- - Wikipedia
Back to Bill and Joyce Cummings. They've donated nearly all of their real estate holdings - approximately $903,000,000 - to their Cummings Foundation. Through that they have committed $50,000,000 to Tufts Veterinary School; as a Tufts alum, I am most grateful. They have funded two nonprofit assisted living centers in communities where their commercial holdings are, as a way to give back. But even that's not all...
I've driven past the Beacon Grille restaurant for years now. I now know it was established by the Cummings family, is committed to being a Green facility, to as well as both sourcing and hiring locally. But wait, there's more: it donates 100% of its net profits to the Cummings/Hillel Holocaust and Genocide Education Program at Tufts University.
Doesn't sound like Bill and Joyce are worried about someone else "getting their money" does it? Nor are the other 68 families involved with the Giving Pledge project. Time constraints don't allow me to investigate the politics of each family; but I can make a few guesses. Take a look at the signatory list; it's impressive.
Not that I'll ever be rich enough for the Giving Pledge people to be interested in my philanthropic possibilities, but next time I'm looking for a fancy place to have dinner, I know where I'll be calling.
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You don't have to be a billionaire to seem like one in my book! All you need to do is nominate a comment!!
From PBen:
While The Donald’s poll numbers have dropped way off, he DOES have a way out -- or rather, back in -- according to jtb583. From blue aardvark's diary: Trump "collapses"
From Your Truly, brillig:
Marriage Equality is a sudden hot topic in NHL circles, as Clarknt67's diary evidenced. MikeTheLiberal set up a fabulous comment by Clarknt67 that would look good in any .sig file!
Libertarian Charles G. Koch bought an Economics Department pledged $1.5 million for positions. TomP summarizes his diary in one sentence.
Someday Top Mojo will return... until then, remember it fondly!