Importance of Natural Resources

Adam Ruins Everything – Why Billionaire Philanthropy is Not So Selfless | truTV


Ah, yes. Every time a billionaire
even hints at doing something charitable,
we treat ’em like saints. Mega-rich guys
like Warren Buffett, Bill Gates,
and Mark Zuckerberg, have the media falling
all over them. But in reality,
this billionaire philanthropy is not as selfless
as it seems. What’re you talking about? Why, we’re literally
giving our money away. Not quite. Take the Chan Zuckerberg
Initiative. When Mark Zuckerberg
announced his plans to “give away”
99% of his Facebook shares, the press covered it like he was giving all his money
to charity. But in reality,
he actually gave those shares to an LLC that he controls. And he can do almost anything
he wants with that money, including invest it
in for-profit ventures. For all intents
and purposes, the money is still his. I’m taking money from
my personal pocket… and transferring it
to my foundation pocket! Well, the Hulko Foundation
is a non-profit. I’m one of
the good billionaires who really is giving
their money away. Eh, more like our money. Because billionaire
foundations like yours are essentially
one big tax dodge. Normally when an individual
earns income, a portion goes to taxes so that our democratically
elected officials can use it to pay
for public goods like schools, services,
and infrastructure. This money will go towards what we, the people,
have decided. But money donated
to private foundations is mostly untaxed,
which means these billionaires get to put their interests
ahead of the public’s. Or this money
could go towards what I, the me,
have decided. Not only that,
they also get a personal tax deduction for making
a “donation to charity”, which means the public
loses out on even more money. Thank you for your donation. Wait, seriously?
Why the heck am I doing this? (Adam)
And when they “donate” money
to their own foundations, they’re not even required
to give it all away. Tax laws only require
these types of “charitable organizations”
to spend 5% of investment assets annually. And that could just be on
expenses and salaries. I could give
this money directly to the grassroots organization
that needs it, or… I could make cousin Greg
the community development czar! I’m going with cousin Greg. More importantly,
whether or not they give the money away,
these foundations are only committed
to their donors’ needs, which are almost never
the things society needs most. (all chattering and laughing) Less than 10%
of charitable contributions go towards addressing
basic public needs… Here you are, boy! Buy yourself
a chicken wing. …while 75% of donations
over 50 million go to things
like universities, museums, hospitals. In other words, things that
billionaires like you can slap their names on. Here you are. Buy us a museum wing. Why, thank you, sir. Your name will look brilliant
next to the Jacunnings’. But the most sinister part
is that these billionaires are also donating massive
amounts of money to think tanks
and advocacy groups that focus on changing
our laws to suit their
personal politics and influencing
our lawmakers to go easy on
their businesses. You’ve all made
excellent points. I’d be happy to ensure
none of our laws will interfere
with your interests. The result of all this
“philanthropy” is that billionaires have
more power than votes. Estimates say the amount
of billionaire money put towards shaping our laws is somewhere around
$10 billion per year. That’s more than
annual contributions to political candidates,
super PACs, and parties combined. Well, that’s not right. That’s not what
charity’s all about. Well, at the end of the day these foundations aren’t
about billionaires giving back. They’re about billionaires
getting something even more important
than money. (man)
That’s right– power. Ah. Gilbert,
meet Anand Giridharadas. He’s a journalist
and author of the book “Winners Take All: The Elite
Charade of Changing the World”. Who pu–
who put him there? What happened
to my Picasso? Picasso?
That was clearly a fake. Just like the missions of some of those
billionaire foundations. They exert massive power
over our democracy through their
massive donations, making their philanthropy
practically a fourth branch
of government. Even if a few of these
foundations do end up helping the public
in some way, we have to question
whether that’s how we want our society to operate. That’s right,
I’m not against billionaires giving
to good causes. I wanna ask why
we even have billionaires and why we have a system
that relies on billionaires to fund those causes. Plus, many of these
billionaires have fought for the public policies
that caused our biggest social problems. And the fact that they can
amass this kind of wealth is what drives our incredible
inequality in the first place. So why would we trust them
to fix it when they’re at
the bottom of it? You know who’d be
a really bad firefighter? An arsonist.


Reader Comments

  1. It's almost like the system is set up to help them instead of helping the communities that tax revenue is supposed to be for 🤔 It's fine, I'll just swing by Office Depot and grab some donations for my local public school, no biggie.

  2. That explains a lot!!!At least Mr. Beast isn't like those rich dinosaurs!!!
    (I swear to god,if Adam ruins Mr. Beast I will just kill them both!!!)

  3. Adam missed the most destructive acts of "charity" done by these organizations. For instance, Bill Gates is vaccinating Africans who do not practice birth control and believe fathering 12 children makes one rich. The problem is, now that all 12 children will survive to reproduce, these peoples are being setup to live in a society that cannot provide them with employment or resources. O wait ! They can work for 5 cents an hour making T-shirts for Walmart. The problem is Gates does not understand the way he became a Manchurian candidate from the games played at his grandparents farm. It wasn't enough to win, you had to dominate. This is why he, through unfair pricing competition, used Internet Explorer to destroy Netscape. And then his people lied saying Internet Explorer was an integral part of the Windows "operating system". This was proved to be a lie by a fellow who showed how to set up XP without IE. He can't get it he committed crimes to get where he is today. Now, he is trying to dominate the charity world. The sad part is the receivers of his "charity" will become its' victims down the road. As a black leader told a friend of mine, "quite trying to help us" meaning you white guys don't know what's best fro us, we have to decide that for ourselves.

  4. There are 8 people on this planet at this time who's combined wealth is more than the combined wealth of half the people on this planet. Their combined wealth along could feed, cloth, educate, & shelter every homeless and hungry man, woman, & child on this planet right now for 2,000 years 24-7-365…js

  5. Clearly the writers are doing the work for Adam. Adam lost all credibility with me when he couldn’t make one cogent point talking with joe Rogan. However, I was more so impressed how civil their conversation was. There’s still hope in this work for folks to be civil.

  6. rewarding someone, for doing something, that only looks good, on the surface . Donating to a cause outside your country, shouldn't be tax deductible, in my opinion. We've got an arena, which construction was partly sponsored, by a company, that now holds its name

  7. I get it that this guys thing is to be annoying as a way to build the brand . People will watch cause they love or hate him but I'd still like to smash his face with my boot

  8. Fun fact: the 16th amendment was passed by the Poor and Middle Class to punish the Rich for being rich. Before that, people only paid taxes in the U.S in times of war🤷🏼‍♂️

  9. I mean I was with you till that guest practically said hey there shouldn't be rich people we should all have equal money. So you're telling me the fat person who did nothing to earn their money should have the same as someone like Kevin O'Leary who busted his ass off to be where he is

  10. This is right about charitable deductions that rich people get which is dumb, but it’s their money not the public’s so of course they should get to decide which charities it goes to not the public.
    Also it’s completely unfair to lump people like Buffett and gates in here when they are giving almost all their money to organizations that don’t have natural funding sources (ie not universities but farming in developing countries)

  11. They earned that money and don’t forget Rockefeller’s donations to churches, homeless shelters and others with half a million dollars so don’t hate on Rockefeller

  12. I really like this show but this clip really doesn’t do much for me. He keeps saying “billionaires” as if they are so much different from us. They get tax write offs for donating to charities just like you and I do. There is nothing stopping anyone here from starting a non profit and donating their income to it either. None of what he said comes off as a secret to be ruined.

    Try harder next time.

  13. Zuckerberg emailed Podesta and asked how he could use charity to change people’s minds on immigration and climate change.

  14. This is taken from an article I read not too long ago:
    "One of the most surprising, and perhaps confounding, facts of charity in America is that the people who can least afford to give are the ones who donate the greatest percentage of their income. In 2011, the wealthiest Americans—those with earnings in the top 20 percent—contributed on average 1.3 percent of their income to charity. By comparison, Americans at the base of the income pyramid—those in the bottom 20 percent—donated 3.2 percent of their income. The relative generosity of lower-income Americans is accentuated by the fact that, unlike middle-class and wealthy donors, most of them cannot take advantage of the charitable tax deduction, because they do not itemize deductions on their income-tax returns.
    And wealth affects not only how much money is given but to whom it is given. The poor tend to give to religious organizations and social-service charities, while the wealthy prefer to support colleges and universities, arts organizations, and museums. Of the 50 largest individual gifts to public charities in 2012, 34 went to educational institutions, the vast majority of them colleges and universities, like Harvard, Columbia, and Berkeley, that cater to the nation’s and the world’s elite. Museums and arts organizations such as the Metropolitan Museum of Art received nine of these major gifts, with the remaining donations spread among medical facilities and fashionable charities like the Central Park Conservancy. Not a single one of them went to a social-service organization or to a charity that principally serves the poor and the dispossessed. More gifts in this group went to elite prep schools (one, to the Hackley School in Tarrytown, New York) than to any of our nation’s largest social-service organizations, including United Way, the Salvation Army, and Feeding America (which got, among them, zero).
    There is much to admire in our country's approach to charity, such as the social capital that is built by individual participation and volunteerism. But our charity system is also fundamentally regressive, and works in favor of the institutions of the elite. The pity is, most people still likely believe that, as Michael Bloomberg once said, “there’s a connection between being generous and being successful.” There is a connection, but probably not the one we have supposed."

    https://amp.theatlantic.com/amp/article/309254/
    Why the Rich Don't Give to Charity

  15. “ why do we have billionaires in the first place” it’s called capitalist economy something you have in India

  16. In all this never was it said they broke the law. Don’t like what they do then stop voting for politicians that pass laws that let them do this. Plus sounds a lot like socialism when you are bothered how another spends and makes his money. When they break the law then you can whine about it.

  17. That line at the end of the video got me… what? No these aren't tears, it's just the dust from the road … that dusty road…

  18. Wow, half of this I didn't even realize. I knew all the parts, but didn't put together that donations to interest groups are also write offs.

  19. Well, when you take into consideration that government bodies have a history of spending that outperforms the income they gain from taxes, no wonder these billionaires think they can spend their money better. Not to mention Adam thinks that government officials directly correspond to what's in the peoples', forgetting that most people have disagreements on what is best for the country. Not to mention the collectivist ideological narrative, permeating thought this video.

  20. Billionaire philanthropy is unnecessary, the true value billionaires add to society is in the products and services they create in order to create this wealth.

    Bill Gates contributed more to our world with Microsoft than he ever will with the BG Foundation!

  21. Who the heck watches this show, seems like some reject comedy Central show from the 90s. Please somebody admit they watch or going to assume it's propaganda.

  22. They can do whatever they want with their money. Y’all worry way more about other people’s financial life and it shows.

  23. Are we really shocked though. I mean who really thought the people earning nearly 1 million times more money than the average person a year it seems hard for me to think they remotely feel any personal contribution to the lower classes.

  24. Adam the most I'll informed ass wipe. Stop promoting policies which depend on the rich if you are against them.

  25. I agree with some of this stuff, but either way, they are donating money to charity, and even if it’s for selfish reasons, it’s still helping people. Ask the people who are in need and getting supported by donations from these billionaires. Do you think they care that it’s for selfish reasons?

  26. why do you care where they spend their money? They already provided products and services and also employment to a lot of people. Also they got their money from us who willingly purchased their product.

  27. Wow Adam…. this is such a garbage video…
    Why there even are billionaires?
    Why don’t you tell me Adam: why are you a millionaire?
    Assuming that taxes go to what everyone wants… what a joke.

  28. Is no one going to talk about how bill gates spent more than 40 billion dollars to help people in Africa and just funded a company that creates carbon free metal. If rich people get richer it does not mean poor people get poorer same as if fast cars get faster slow cars don’t get slower.

  29. That's funny Adam considering that you yourself are a millionaire yet complain that the billionaires are just taking our money……

  30. If billionaires are so bad, why are people still spending money on the things they help provide for us, like Microsoft computers? I mean, if that’s the case (which it is), then why should I be mad that this is how they use the money I gave them?

  31. Pretends to be an intellectual who understands American government
    "they serve massive power over our democracy"
    Republic. America is a a republic. Smh.

  32. So how much of your wealth do you spread about Adam? For a guy who seems to have such an issue with capitalism you sure do make alot off of it

  33. Because of those evil rich people I can watch this communist crap on my smartphone invented by rich person which I bought for money working for another evil rich person. Bottom line rich people a making my live better and easier and what ever they are doing with their money I don't care since their earned them not me.

  34. I'd rather give to these 'Charitable Organisations ' than the government. At Least 10% of the proceeds go to the well-being of the people.

  35. This hate on the rich is getting old. Most billionaires made there money with there own two hands. And the guy being interviewed clearly said "why should billionaires exist in the first place" is he really that thirsty for communism?

  36. "More like OUR money"

    Ok comrade.

    I liked these videos when they were just about common misconceptions and not a polarizing message pushing political views as facts.

  37. Billioners are tryna save and keep their money and tryna make huge profits, sure somethings they do is wrong but if you worked your whole to become rich you wouldn't just give it all away and lose your statists would You?
    I know there's going to be some nice and kind people who say they would but would not in reality
    It's easy to say somthing then to actually do it.

  38. Don't get me wrong Adam does a good job most of the time, but this episode was a bit one sided….. The author made more sense and points in his few seconds than all of Adams minutes combined…. To grasp the truth in this episode, you've got to listen to the author again… This time slowly and objectively

  39. Copy right laws that let a few people control all of the most important technologies for many years, definitely helps keep the riches people rich.

  40. Adam Ruins: Alpha male doesnt exists.
    Joe Rogan *Shows him that Adam is wrong.
    Adam Ruins: um..and..uhhhh…and remember I'm not an expert on this.

  41. i dont like this one sided format, just bashing something by cherrypicking. I always wondered how adam would do in a actuall conversation, then he came to joe rogan. honestly one of the funniest videos on youtube, if you consider the context

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