Posted on 02/04/2008 12:08:29 PM PST by Dr. Zzyzx
The family of Utah inventor and billionaire philanthropist James LeVoy Sorenson said today that he willed his entire personal fortune to charity.
Sorenson died of cancer last month at age 86.
Last year, Forbes Magazine estimated his wealth to be approximately $4.5 billion.
Sorenson was known for his numerous medical inventions and successful business endeavors, in addition to his dedication to charitable causes. His son, James Lee Sorenson, said his father had talked about leaving his vast fortune behind to help various worthy causes.
"Over time, particularly the last 10 to 20 years having been successful, he asked himself, 'What is it that I can do with my wealth?' And he came to this conclusion."
James Lee Sorenson said the Sorenson Legacy Foundation will administer and choose which deserving organizations will receive gifts from his father's estate. Previous beneficiaries of gifts from the foundation have included Gallaudet University in Washington, D.C., a college for deaf and hard of hearing students, and the University of Utah.
You have completely missed my point.
She will. Give it time.
I am not sure what HCI is but, even money in the hands of the ACLU is better than the Death Tax confiscated by the Federal Government.
The point is that the Feds will not get their grubby hands on this money and that is always good.
Having a "family structured job mill" may be counterproductive to that goal.
I disagree. The ACLU is completely unaccountable to anyone other than their board (leftists) and funders (more leftists). Once the U.S. Federal Government is as completely dominated by leftists as is the A.C.L.U. then it will all be over. The creation of this foundation may ultimately be another step in that direction.
“I am not sure what HCI is but, even money in the hands of the ACLU is better than the Death Tax confiscated by the Federal Government.”
HCI = Handgun Control Inc.
Who said they wanted the death tax?
You must be joking if you would rather see the ACLU get billions of dollars rather than the feds. It would fully fund them for eternity and they would use it to destroy every American value. The feds would blow it in a week on paperclips.
I invented a sign language visual indexing system for software he backed to help deaf and non-deaf people learn sign language. I saw enough to know that the man is amazing, and the family shares his values. None of that money will be wasted - when I was working on the project, the main office was a beaten down building with carpet form the early 70s.
Sorenson can give his money to the ACLU, NPR (as went the McDonald’s fortune), the Mormon Church or the NRA. Each of those donations would represent the value of a free market system.
If the Feds were to confiscate the fortune, as they do every day, the estate would simply be another victim of the IRS.
Can someone tell me how I can legally change my name to “Charity”?
“henry ford’s foundation these days supports things like the azatlan movement that seeks to split off the US southwest from the US and either form a seperate country or merge it with mexico. “
I happen to agree with that one...Mexifornia first.
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I would prefer that the illegals be shipped back to Mexico.
Again, you are completely missing the point.
Do you know of a single charitable foundation that after 30 years is not an agent for leftism?
Ford? Rockefeller? McArthur? Pew?
There are reasons why it always happens this way.
I’m glad you shared this information. It’s nice to know that the old guy really was a helper.
Okay, then what is the point?
Would you like a government agency to decide what charities a person can and cannot leave their fortune?
It really does need a good home, with a young French maid/personal chef/yoga instructor. I believe combining these jobs will save the charity significant overhead. :)
nice - no taxes to pay - wonder how hillary will view this?
La Raza would be NOTHING without the Ford Foundation. NOTHING.
“Good Lord - I’ve heard about this - cat juggling! Stop!
Stop! Stop it! Stop it! Stop it! Good. Father, could there be a God that would let this happen? How much do you want?”
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