Billionaires teach us money lessons all the time if we pay attention.
Dangote is as capitalist as they come. What would cause this man to give up 1/3 of his wealth?
The answer is nothing.
That wealth stays in the family.
The family will own the foundation. His children will be the managers/trustees.
As managers, they'll be entitled to rumeneration. They can fund their lifestyle through it.
The donation itself is tax free.
Administration is not free. Some of it will goto worthy causes I trust but a lot of it will just roundtrip within the same billionaire foundations ecosystem where they pay for vehicles, travel and other personal expenses using untaxed donations.
Instead of paying a wealth tax in jurisdictions that charge it. They get to transfer what they need for day to day lifestyle expenses to a foundation that pays for them.
The rest will be locked in in trusts that own shares in companys they get dividends from. They can even borrow against their shares in these companies if the interest rate is favourable and pay interest instead of tax.
They pay as little tax as possible and keep their lifestyle.
It's all legal.
A lady called out a popular skinny content creator for sexu@lizing her little sister.
She posted her DMs showing where he apologized, saying he saw the post on Instagram and didn’t mean to sexu@lize her.
She also demanded a public apology, which he made, but she refused to take her post down.
Do you think she is doing too much?
What do you think?