Bill Gates spends $1 million on mansion, jets so 15 y/o daughter can compete in equestrian event

[HiPointDem]

Bill Gates has indulged his teenage daughter's love of horse riding by spending $1million on a rented mansion close to an equestrian festival.

Jennifer Gates, 15, was pictured showing off her horse jumping skills at the weekend during an equestrian show in Palm Beach, Florida.

Her father, America's richest man, was said to have rented a 7,300 sq ft house with eight bedrooms and its own equestrian facilities for $600,000. The property in Wellington, Florida is worth $12.9million.

The billionaire Microsoft founder was said to have signed a six-month lease on a palatial premises so that his daughter can compete in the event over spring break.

Gates then leased four, elite jumping horses for $50,000 to $75,000 each for the girl to ride. Another $50,000 has been forked out on stables along with hiring the best trainers.

On top of this, there have been three private jet trips to ferry the family back and forth to Washington State, where their main residence sits on the edge of Lake Washington in Medina.


Read more: http://www.dailymail.co.uk/news/article-2120584/Bill-Gates-blows-1m-daughter-Jennifer-15-horseriding.html#ixzz2F1lQA0QP

[peacebird]

1. Must be nice to be that rich

[Honeycombe8]

2. That's equivalent to me paying for a dancing school in someone's house at the end of the block.

If you can afford it, that's your lifestyle. We all have different lifestyles, based on our income. I don't hold someone's wealth, or lack of it, against someone.

[HiPointDem]

10. Bill gates is a primary force in the destruction of public education and the promotion of

'no-excuses' charters like the one in the other thread that you said you wouldn't send your own child too.

Folks like mr. gates deem those appropriate schools for poor people, particularly those who are black and poor.

[Honeycombe8]

100. #1: I disagree w/your statements. #2: That has nothing to do with his daughter's hobby. nt

[pipoman]

3. Big deal...

he is extremely wealthy. Wealthy people spend money because they can. This isn't news, it's gossip.

[HiPointDem]

6. we can always count on lots of people defending the poor misunderstood rich. No, pointing out

what the man who's trying to destroy public education and put *other people's children* in prison schools does for his own little precious snowflake is not "gossip".

[theKed]

13. What does that

have to do with the OP?

[undeterred]

4. Ann Romney in training..

[madaboutharry]

5. So what.

The Daily Mail is a Murdock rag. This is just a gratuitous article to try and make Gates look shallow.

[HiPointDem]

8. another defender of the defenseless rich. what would they do without you guys?

FYI, poor mr gates is a primary force in the ongoing destruction of public schools, unions, and non-patented genetic material, including the food supply.

he is shallow, and a first-class creep.

[theKed]

14. What does that

have to do with the OP?

[HiPointDem]

16. you must have missed this part:

FYI, poor mr gates is a primary force in the ongoing destruction of public schools, unions, and non-patented genetic material, including the food supply.

[theKed]

38. No...no, i saw it

Thats what I was asking the relevance of, in regards to the OP.

Did such allegations make it easier to rent a florida mansion? Do supposed attacks on the school system aid equestrian training?

[HiPointDem]

43. bill gates' political activities disguised as philanthropy are why his spending habits are fair game

for political discussion, and not some kind of invasion of privacy or 'gossip,' as the wags here have it.

[theKed]

48. Bill Gates'

Vast amounts of money is why his spending is fair game. "What does the richest person in America buy, anyways?" fascinates some people.

Listen. His politics may well be an interesting topic, with many facets, but I don't go to a Baywatch fan forum to talk about PETA, you know?

[HiPointDem]

49. lol. i do, though.

[KoKo]

59. +1....

[patrice]

85. +++1 Good Work, HiPoint! nt

[Shivering Jemmy]

23. I've never met a person who wasnt

Shallow...or a creep at times

[HiPointDem]

25. most of us don't have billions to inflict our creepy ideas on others, however. so i fail to see how

your observation matters.

[AlexSatan]

66. Hard to see how renting a house is inflicting creepy ideas

on anyone.

If you are just searching for things to try to criticize Gates for, carry on and have fun.

It just won't resonate with most people.

[Logical]

109. Gates donates billions to real charities! I am ok with it!

[Melinda]

87. The Daily Mail is not a Murdock rag. No association. None.

http://en.wikipedia.org/wiki/Daily_Mail_and_General_Trust

[Selatius]

7. Well, you know, we have to groom the next generation of the corporate oligarchy.

I'm sure when she's grown up, she'll land a nice job running a financial empire on Wall Street running a business monopoly or a cartel.

Who knows, though? Maybe she flips out and rebels against the system.

[HughBeaumont]

35. Trump's daughter Ivanka is already chugging the Laissez-Fail kook-aid.

Wharton School Barbie occasionally makes her way to CNBC and unleashes her inner Jack Welch. Like Birfer, like Daughter, I guess . . . .

[Selatius]

50. That's tragic.

I almost feel sorry for her, but on the other hand, in thirty years, she could become a senator or a president. That worries me.

[Separation]

9. As apposed to what?

Him giving 1/3 of his wealth to charity?

http://www.huffingtonpost.com/2011/03/07/bill-gates-no-longer-worl_n_832634.html

DRAMATIC" PHILANTHROPIC INFLUENCE

Gates and Buffett have joined forces to encourage other billionaires to publicly pledge to give away at least 50 percent of their wealth during their lifetimes or upon their death as part of a campaign called The Giving Pledge.
Glen Macdonald, president of the Wealth and Giving Forum, said Gates' philanthropy had influenced the way other rich people in the United States approach their own philanthropy.

[HiPointDem]

11. If he gave 1/3 of his wealth to charity, where'd the million he just popped for his daughter's horse

competition come from?

He hasn't given shit to charity. It's all in his foundation, which he controls totally. The foundation is a tax writeoff & a tax-free investment fund, and it makes plenty. He spends less than it makes.

Tell me about how he's given away all his money when he's forced to sell his mansion & go on unemployment.

[SidDithers]

15. From the other 2/3 of his wealth?...

Sid

[vi5]

19. This made me laugh.

I thought the same thing but figured "Really? Did they really just ask that?"

[hack89]

24. I now understand his concern about the state of American education. nt

[HiPointDem]

31. i'd be more worried about the people who think he actually gave away anything.

[hack89]

37. Charitable foundations are required by law to donate 15% of their assets annually

and report their financial activities to the government.

Simple math says that the Bill & Melinda Gates Foundation donates a minimum of $1.5 billion a year.

[HiPointDem]

39. nope, 5%.

In exchange for exemption from paying most taxes and for limited tax benefits being offered to donors, a private foundation must (a) pay out at least 5% of the value of its endowment each year.

http://en.wikipedia.org/wiki/Foundation_%28United_States_law%29#Legal_requirements

I already said they 'give' a couple of B a year. But gates' assets don't shrink.

[hack89]

40. You are right. The $1.5 billion per year figure is still good. nt

[HiPointDem]

46. i never denied that bill 'gave' a couple of Billion a year; i explicitly state that, in fact. but

wealth doesn't decrease. and he funds projects which align with his own social-political-financial goals. so it's hardly a 'gift'.

[AlexSatan]

68. What?

Than what does " i'd be more worried about the people who think he actually gave away anything."

You worry about yourself?

[hack89]

42. "More billionaires join Buffett-Gates charity initiative"

Warren Buffett and Bill and Melinda Gates' initiative to get billionaires to pledge at least half their wealth to charity signed on 11 new families with a variety of causes and interests.

http://articles.latimes.com/2012/sep/19/business/la-fi-billionaires-charity-20120919

[HiPointDem]

47. yes, more billionaires to fund education deform, cheap labor and patented control of food and

medicine and the world's gene pool. oh brave new world, which has such characters in it.

all tax-free, such a deal.

look, you may call it 'giving' to give interest while retaining principal. i don't. and i don't call any of the self-interested 'investments' bill calls 'philanthropy' giving either.

[duffyduff]

76. It's a totally fake foundation

He uses a tax-exempt "foundation" for purely political purposes.

He is scum, and I am outraged anybody could possible defend him.

[AlexSatan]

67. Facts matter

"In 2010, the Foundation gave $2.5 billion in grants – 80 per cent to international projects. In total it has disbursed over $26 billion, most of it to global health. To put these figures into perspective: since 1914 the Rockefeller Foundation has given $14 billion (adjusted to today’s values). Only the US and British governments give more to global health today. The World Health Organization (WHO ), meanwhile, operates on less than $2 billion a year.

The Foundation’s achievements are undoubtedly impressive. Through supporting vaccination programmes, for example, it claims to have saved nearly six million lives. With rich world enthusiasm for foreign aid wavering, on 26 January this year Gates committed a further $750 million to the Global Fund to Fight AIDS, Tuberculosis and Malaria – an organization he claims saves 100,000 lives a month. Admirers credit the Foundation with putting global health back on world leaders’ agendas and, through Gates’ Giving Pledge initiative, encouraging several other US multi-billionaires to pledge their wealth to charity. What’s not to like?"

http://www.newint.org/features/2012/04/01/bill-gates-charitable-giving-ethics/

[duffyduff]

78. Whatta guy

Tell us about his "educational" activities, which is nothing but a lobbying outfit.

Gates is truly one of the most despicable characters of our time.

[AlexSatan]

81. Lots of folks benefiting from his health philanthropy

would disagree. I'm sure they like him a lot more than they like you.

[NCTraveler]

83. +1. That's funny.

[dionysus]

93. BOOM TISS.... vaht?

[Separation]

22. Math is fun

1/3 = %33 or .3333333333_

1 = %100

1/1 - 1/3 = 2/3 or %66 or .666666666_

so according to this fuzzy math here, he should still have 2/3rds or %66 of his wealth left. I am going to go out on a limb here and guess that he had more than two million to begin with.

[HiPointDem]

32. Let's see...in 1996 he had 18.5 billion; $60 billion in 2000; $50 B in 2009, after the recession;

$61B this year. Plus $36 B in his foundation, which he controls, and which is growing, not shrinking.

when was it he gave away the third, exactly?

he gives a couple of billion a year (to his favored projects, including GMO agriculture, education deform, financialization of the third world, and cheap labor everywhere) -- less than the foundation makes off its investments.

[JackRiddler]

95. Extremely important point - Bill Gates gave away NOTHING.

He transferred a part of his wealth into a foundation that he controls. As you point out, the equity of the foundation is growing. The foundation grants go to highly questionable causes like destroying US public education and spreading high-input GMO agriculture in Africa.

Thanks.

[88mph]

45. +1

[Logical]

110. It is obvious this is a personal thing for you and nothing to do with logic!

[Egalitarian Thug]

12. If/when we "go over the cliff", the inheritance tax will go back to 55% and that's too low.

I always get a kick out of people fawning over rich people when they deign to drop a few shekels after draining a fortune from the community.

You might be interested to know (well, probably not really) that the Gates Foundation is primarily a tax dodge and enforced revenue stream masquerading as philanthropy.

[SoCalDem]

98. I would prefer that the uber-rich just pay a fair share of taxes into the public coffers

instead of their selective charities or pet projects.. Of course they are truly rich enough to do both.

When society relies on the largesse of the super-rich, many of us fall short of being "worthy" enough to get much help.

When all are part of "the commons", with all participating in a fiduciary sense, societies are probably more livable and kind.

When benefit-dispersal is in the hands of a few , everyone is subject to their wrath and restriction if they are not "happy" with us or if we are not graveling the way they want is to.

[MrSlayer]

17. That's pocket change to most of us.

He's worth what? 40-50 billion?

Must be nice.

[HiPointDem]

28. "pocket change" only if his yearly income is something like 30 billion.

[MrSlayer]

41. How do you figure?

A million bucks to someone with forty thousand million is nothing.

It's a guy with four thousand dollars spending a penny.

[SidDithers]

44. Dime...

but you point remains.

Sid

[HiPointDem]

52. i'm talking about his income, not his capital. typically we don't measure our spending against our

savings account, but against our income.

does he make $40,000,000,000 a year?

[MrSlayer]

97. Any way you measure it, it's an insignificant amount to him.

He has a ton of what people call "fuck you" money.

[vi5]

18. Whatever....

Yeah, this makes me roll my eyes and get somewhat frustrated. But I'd feel much angrier if this were someone who was as wealthy as he was and spent his money trying to rig the political system and injecting himself too far into public policy.

I know he has his issues that he supports that I disagree with (mostly public education), but when I compare him to someone like the Koch brothers or the Walton family or any number of wealthy executives and CEO's and the like and how much they fight against Democratic policies and spout off idiotically, something like this just doesn't even make my top 1,000 of the "Things Obscenely Wealthy People Do that Piss Me The Fuck Off" list.

Not defending the poor little rich dude, but I'd prefer him spend his money on indulgences for himself and his family than throwing it into anti progressive legislation or supporting Republican politicians or whatever. I'm sure he does some of that, but again.....not to any noticeable and obviou degree.

[HiPointDem]

26. Bill Gates funds more crap than the kochs because he has more money. He's the biggest funder

of genetic modification of agriculture on the planet, for example, and has partnered extensively with monsanto. Bill gates is a huge political force.

democrats like to give him a pass because he also funds *them*. that's basically the only difference between him & the kochs -- except, of course, he has more money.

[YellowRubberDuckie]

103. Not because he's evil.

It's because he is trying to feed the world. Not everyone sees GM agriculture as evil. Not all of it is evil. They've been Genetically Modifying plants for DECADES. It has only recently become dangerous, but not in all plants...

[HiPointDem]

20. so many democrats sticking up for poor widdle bill, destroyer of public education, largest funder

of gmo agriculture in the world, partner of monsanto.

somehow it's not nice to mention the fact that he spent a million to enter his 15 year old in a horse show.

it's ok to say that, & worse, about ann romney, though.

bill is every bit as political as mitt romney, & discussion of his spending habits is every bit as valid.

not a single rec for this post, zillions for ann romney's horses.

[SidDithers]

21. You were more entertaining when you were posting wsws.org articles all the time...nt

Sid

[Separation]

27. His kids will get around ten million each,

from inheritance. The rest will go to charity. Says they need to make their own way in life. 10 million from what his worth is, is a drop in the bucket.

I'm not making him out to be some saint or something, but it is a lot more than other billionaires are doing.

http://www.kirotv.com/news/news/bill-gates-kids-to-inherit-minuscule-portion-of-hi/nDRYf/

[HiPointDem]

30. his kids will get control of his foundations (& their own trusts/foundation), guaranteed jobs

and position.

the $10 mill is just the *cash inheritance* portion.

he can *say* whatever he likes for public consumption; it's bullshit.

there are trusts still extant from the 1800s disbursing cash to the idle rich.

[HughBeaumont]

33. Not to mention a cheap labor/job offshore outsourcing supporter.

Also favors a substantial increase in H1b and L1 visas whether they're needed or not. You know, because you just can't FIND qualified American citizens for the same job!!

[HiPointDem]

34. I forgot that! one of the biggest pushers of cheap labor in the country. "Cheap Labor Bill".

[bigtree]

29. that's just walking around money for Bill

who cares? good for his daughter

[frustrated_lefty]

36. I'll take Bill Gates over Steve Jobs any day of the week.

The foundation's contribution of $1.3 billion through The Global Fund to Fight AIDS, Tuberculosis and Malaria alone earns him a little leeway in my book.

[gollygee]

51. It sounds to me like

he could afford to have his taxes raised a bit.

[HiPointDem]

53. he certainly could, but that's what the tax-free foundation is for.

[gollygee]

54. They always have some racket

to keep out of paying what they should.

[HiPointDem]

55. yes, and what makes buddha cry is that there are so many peons willing to praise the racket and

kiss the racketeers feet.

'thank you master, you are so generous, good & kind!"

going on 60 posts and not a single rec. if i wrote "koch" they'd be all over it. it's like they think bill gates will come & smite them for defiling his house and name.

[theKed]

65. Could it be

that nobody gives a shit about Gates renting a house for the season? Maybe that's why you're not getting rec'd?

You wanna talk about his politics, make a thread about it. I bet people would talk about his politics, there. Might even rec it, since you're so gung ho for glory. Same for his philanthropy. This, though? Posting about him renting a house, then going off on his supposed attitudes about education? That's bullshit.

[NCTraveler]

89. You mean the foundation that has literally lowered the rate of malaria in areas.

That foundation. I am sure it is easy to criticize from behind a keyboard. It's a lot harder for those receiving medication and netting that is literally saving their lives.

[Freddie Stubbs]

56. Good

Florida's economy needs a boost. It's going to take a few people to maintain that house. I doubt that Bill will be doing the cleaning and yard work.

[Marrah_G]

57. I find it disgusting

Excess and greed, tempered only a bit by the charity work they fund.

[dembotoz]

60. yes i wish i had his cash but it does not make him evil---romney's money did not make him evil

he achieved evil on his own.

[HiPointDem]

61. no what he does with the money makes him evil. like promote privatization of education, cheap

labor, for-profit genetic modification of the food supply, testing of drugs on uninformed third world populations, etc.

[spanone]

62. he founded microsoft....blame the people who bought his product. they made him rich.

[HiPointDem]

63. yes, somehow everything is always the peons' fault. that's why we must be punished -- by people

like bill gates.

no medicare for you, bubba!!

[AlexSatan]

73. Yes, him renting that house is punishing us

"And after the spanking, the oral sex."!

[leftstreet]

71. Workers built Microsoft. He took the profits. n/t

[Coyotl]

64. I guess his 15-year-old doesn't have a social conscience either.

Doesn't Jennifer realize how WRONG this is in a society where real people who are starving, homeless, hungry, cold, wet, and ill?

[99Forever]

69. Pocket change to 1%ers.

But still disgusting.

The amount of actual good that Gates COULD DO, boggles the mind. But like the rest of the ultra-mind-numbingly-wealthy, he does almost nothing for those need it most, and absolutely NOTHING without an ulterior motive.

[laundry_queen]

74. Yep, you get it. nt

[Warren Stupidity]

90. um no, pocket change to the .01%

The 1%'ers would have a hard time making a 600K rental.

[jwirr]

70. I don't really care how the rich use their personal money. What I care about is how they treat

the poor. If Gates was actually helping public schools with his education programs that is what would count with me. Oh, and that he and his kind keep their noses out of my personal life.

[tarheelsunc]

72. This can be overlooked given all the humanitarian work he does.

He's rich enough that something like this is really just pocket change for him. It seems like a lot to us but to him it's not and it doesn't even compare to what he spends for good causes. He just wants to make his daughter happy like any parent would, and it just so happens that he has the means to allow her to dream big and still be supported.

[riderinthestorm]

75. Have to hand it to him - top of the line all the way from competing at the WEF to his rental house.

When we compete in Florida, we camp in our horse trailer... with our off-track Thoroughbreds that we train ourselves.

What's going to really knock your socks off is that since their daughter has caught the competition fever, Bill and Melinda Gates are going to be doing this EVERY WINTER. Starting out at this level of ahem, service, pretty much ensures that this will continue in perpetuity. If she really falls in love with equestrian sports, prepare yourself for the Gates' to buy their own multi-million dollar estate in Wellington. It will be actually be a hell of a lot cheaper than renting every year.

There's a saying in the horse biz... if you want to make a little money in the horse business, start out with a LOT of money.

Dammit though, wish this girl wanted to be an eventer, I'd take her on as a client ($$$$) in a country minute.

[qanda]

77. It's his money and his child

How many parents spend an even greater percentage of their worth to buy stuff for their children at Christmas and for birthdays?

[LynneSin]

79. So? Bill Gates has been generous to his donations to various causes

PLUS he's supportive of the Bush Taxes retiring.

THose 2 reasons means I don't give a shit how he spends his money. Good for him.

[duffyduff]

82. You SHOULD "give a shit" how he spends "his" money

He is using it to destroy public education, a key foundation for democracy.

I can't believe people actually sticking up for this sociopath.

[LynneSin]

84. NO, I don't. I don't have a single care in my body what he does with his money

Trust me. I have plenty of outrage but he doesn't even crack the top 100 of things I need to be outraged over.

HEre, give me a minute and let me see if I can muster up some outrage



Nope, can't do it, not even an inkling of outrage.

[geek tragedy]

80. Breaking news: Bill Gates is really rich. nt

[TwilightGardener]

86. Because Bill and Melinda Gates attempt to do some good in the world

with all their money, I don't really care that rich people live like rich people. As opposed to the Kochs, who try buy the government and transform it to make themselves even richer, or at the very least buy themselves an old-West replica town that no member of the public can enjoy.

[JackRiddler]

96. What good has this guy done?

How did he get his wealth? By leveraging monopoly position to destroy competitors.

When did he give away his wealth? He didn't, he transfered part of it to a foundation with equity that is growing. He controls the foundation.

What does the foundation support? Privatization agenda for US schools. Bringing high-input GMO farming to Africa. Paying men there to be circumcised (wish I was making this up).

Screw Bill Gates and all the blind worshippers of wealth and royalty who fall for the epic, obvious bullshit of his "philanthropy."

It's the same old story: Robber baron transforms into "philanthropist."

[YellowRubberDuckie]

104. He's just about wiped out Polio worldwide?

But fuck those kids who were saved. They don't matter.

[JackRiddler]

105. Good for him.

I'd like to see a document on that, by the way.

Does it excuse the other stuff?

Does it give him a pass on efforts to destroy the US public school system?

[YellowRubberDuckie]

116. Hmmm...

Saving the lives of kids in the third world?

Found this
Over the years, though, the research community has more or less confirmed that class-size reduction doesn't yield significant performance gains. The most expensive education reform is among the least effective.

Gates proposes ending class-size reduction experiments, lifting caps on class size and offering good teachers financial incentives to teach more students.

Here: http://voices.washingtonpost.com/college-inc/2011/02/bill_gates_talks_about_teacher.html

I don't see where he's wrong in that. Privatization of Schools is stupid, I totally agree. But I don't think Gates is doing it to be evil. I think he wants to help kids get a better education. I'm not going to demonize him. I cannot see someone who wants to improve the lives of kids all over the world as someone who is evil. There HAVE to be good reasons behind what he is doing, even as misguided as he is. His though most likely is, "Why shouldn't all kids get the great education I did?" And is going from there. I refuse to see him as a Villain.
In searching for that, I found this:
Here it is in his own words: http://www.washingtonpost.com/wp-dyn/content/article/2011/02/27/AR2011022702876.html

[democrattotheend]

108. I agree. At least they give a lot to charity.

And I don't know what their politics are, but I am not aware of them being major Republican donors.

[arthritisR_US]

88. It's their money they have a right to spend it

as they see fit.

[Nye Bevan]

91. I wouldn't mind if Windows wasn't the crappiest, suckiest, least stable piece of shit

operating system that it has ever been my severe misfortune to use.

And I bet his daughter really wants an iPhone but is forced to use some crappy Windows phone. And listen to her music on a Zune.

[dufan_from_tx582]

94. so true

main reason why i switched to mac

[Iggo]

92. Long as he paid his taxes, what's the beef?

I don't care if a billionaire spends like he's a billionaire. I just want to redefine what it means to be TAXED like a billionaire.

Rich girls are gonna ride pretty horses. Who gives a shit?

[DesMoinesDem]

99. Isn't a billionaire spending money a good thing?

Would you rather him not spend it?

[Liberal_in_LA]

101. Bloomberg's daughter competes in this sport, she said that people associate her wins with $$$

In other words, they discount her success because of the amount of wealth her family put into it.

[YellowRubberDuckie]

102. He's given away BILLIONS.

He can do whatever the fuck he wants.

[JackRiddler]

106. No he hasn't.

He has transferred a part of his wealth to a foundation, the equity of which has grown.

If he's still in control of the money, he hasn't given it away.

[Logical]

111. And the foundation has given away billions. Prove it hasn't.

[democrattotheend]

112. I have a friend who got a grant from them

To do sustainable agriculture work in developing countries. The foundation definitely does good work.

[Logical]

113. Thanks for this info!

[JackRiddler]

115. Sure - for privatizing US schools.

[leftlibdem420]

107. Gates is hit and miss..

Microsoft's monopolistic practices and non-standard web browsers probably retarded the evolution of the Web by a decade and I strongly disagree with his support for Charter Schools. What a fucking moronic thing to support in a country full of predatory robber barons and fundamentalist hucksters. Conversely, he is a proponent of progressive income tax and of inheritance taxes.

[Marinedem]

114. Damn.

The jealousy is so thick in here I could walk on it at not fall through!

Lesson #87 That I learned today: The amount of money a man gives to solve the world's problems means shit if his daughter got to ride a horsey in Florida and I didn't.