Comment on Flashback - Mark Zuckerberg on billionaires: 'No one deserves to have that much money'
KevonLooney@lemm.ee 9 months agoCharitable trusts have to be donated to charity. You can’t pull the money back out. It’s like giving it away that year.
Yeah, a ton of things can be a “charity”. You can donate the money to your friends at a church or a clubhouse for your friends and still have it be a “charity”.
Changetheview@lemmy.world 9 months ago
I think we’re saying the same thing. Many ways to get personal benefit from a charitable trust. They are irrevocable trusts, but the majority money doesn’t immediately have to go anywhere.
And even when money does flow out (beyond admin/establishment costs), there are TONS of creative ways to use it for personal benefit. It’s not like they are certainly giving it to make sure society has what it needs.
See Rolex and Hershey. Or giant charity galas. Many ways to use the funds for “non-profit” entertainment. Plenty of ways to get kickbacks from “charitable” donations.