The news of the marriage came out after he signed onto her "giving page," pledging to give away most of his money in his lifetime.
It is strange to be writing a letter indicating I plan to give away the majority of my wealth during my lifetime, as I have never sought to gather the kind of wealth required to feel like saying such a thing would have particular meaning. I have been a teacher for the majority of my life... And now... I am married to one of the most generous and kind people I know—and joining her in a commitment to pass on an enormous financial wealth to serve others.... I have been lucky to find my closest friends in people very unlike me in distinct ways: religion, sexual orientation, race, gender identity, socioeconomic background, you name it. Kindness and a willingness to find commonality despite differences has brought me together with them and changed me for the better....
Who would you marry if you were a woman who not only had absolutely no use for extra money but only for a partner — companion — to help or stand by while you give your massive money away?
At WaPo, which is owned by MacKenzie Scott's ex-husband, the article has this in the comments:
MacKenzie Scott married a teacher. Just when I didn't think your star could rise any higher.... Please, both of you, show us how it's done. And, I say this with heartfelt gratitude: thank you for your service-minded contributions. (Bezos? You, not so much.)
Somebody else steps on the sentimentality:
Uh, don't get too excited. Lakeside is the most expensive private school in the Seattle area ... its campus looks like an elite university. The students are some of the most wealthy and privileged kids in the nation. So, I mean -- yeah, great, he's a teacher, but let's not pretend that he's toiling away in the public schools with low-income black kids.
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If you can rub two quarters together you can be a millionaire in Venezuela.
actually, now that i think of it; they'll only owe property taxes to local governments
their plan is to give away more money each year, than their wealth generates...
So, they won't have any taxable income
...and teachers who teach people who are not young, poor, or black are not as worthy as those who are.
I can't be motivated to chip away at any two people who love each other enough to get married. Good luck to them.
“I have been lucky to find my closest friends in people very unlike me in distinct ways: religion, sexual orientation, race, gender identity, socioeconomic background, you name it.”
Virtue signal much?
"their plan is to give away more money each year, than their wealth generates...So, they won't have any taxable income"
Unless the tax laws have changed, you can only write off 50% of your income to charity.
Mr. Forward said...
"If you can rub two quarters together you can be a millionaire in Venezuela."
The miracle of socialism.
In Venezuela you can buy more with half a roll of toilet paper than whatever play currency the communists are printing there. The usual suspects hold this up as, "progress".
How is Mackenzie is like Slow Joe? Both feel better when giving away someone else's earnings.
As you point out, his wealth is completely irrelevant to her. Why not marry a teacher? Why not marry whomever you want completely unburdened by the cares of a world that has to consider practical issues like your partner's ability to help pay the rent and put food on the table. What would a doctor or CEO bring to the partnership that she would actually need?
Marrying a teacher isn't noble, it's freedom.
Humperdink is correct. Per the IRS:
“Limitations on Deductions
In general, contributions to charitable organizations may be deducted up to 50 percent of adjusted gross income computed without regard to net operating loss carrybacks. Contributions to certain private foundations, veterans organizations, fraternal societies, and cemetery organizations are limited to 30 percent adjusted gross income (computed without regard to net operating loss carrybacks), however.”
However one of the Covid relief packages provides some temporary suspension.
"Unless the tax laws have changed, you can only write off 50% of your income to charity."
Then do what "Lurch" and Teresa Heinz do, invest in tax free municipal bonds.
MacKenzie Scott has been giving money mostly to destructive Marxist/racist/sexist organizations. Burning her money or losing it gambling would be less harmful.
Uh, don't get too excited. ... but let's not pretend that he's toiling away in the public schools with low-income black kids.
What a strange thing to say. It's far more better to "educate" intelligent kids than to attempt to educate kids who will never even learn to read and write.
"pledging to give away most of his money in his lifetime"
Pledging to give away most of WHOSE money in his lifetime?
How can a real man keep a straight face in public about the "virtue" of pledging to give away most of the money your second-hand wife obtained in her divorce from the man who actually earned the money?
Dude, please!
That he has to say all that about his friends makes me suspicious... even if true.
Also, will their pledge be publicly audited?
I would be very impressed if they gave all of the money away now, either directly or into a blind trust where they will not be made extravagantly paid trustees, and lived off of his humble teacher’s salary. But they probably won’t, they’ll live like kings off of money earned by her ex-husband, flying to beautiful places all over the world and being celebrated and told how wonderful they are by a bunch of people hoping they’ll shower some if that money on them.
Unless the tax laws have changed, you can only write off 50% of your income to charity.
really? i didn't know that
i guess he WILL be paying more in taxes than he ever earned
of course, he's not "A" teacher, he's her children's teacher
they knew each back when she was married
Sweet gig.... wait let me google up a photo of her.
On a different scale, this is you, Professor. I hope he makes her laugh.
If in Venezuela toilet paper is scarce but the currency is nearly worthless, it seems like the solution is at hand.
How did they meet? Billionaire philanthropists don’t usually attend the same house parties as HS science teachers.
Not a science denier
Nevermind, I see. The answer should have been obvious.
Back in the late 80's, I become friends with an elderly widow. Her husband was a minister. She did her own taxes and asked that I review them. I saw that she gave 50% to charity, mostly missionaries. I was astonished and asked: "You gave 50% to charity?" "Oh no" she responded, "I gave more than that, you can only write off 50%".
Hot for teacher never gets old, or rather, can survive into late middle age. Good for them. To those who say she didn't earn this money, look up what Jeff Bezos has said about Mackenzie's instrumentality to Amazon's success in the early days.
My wife, all over again.
I really really think that people who own Amazon, maybe the world's biggest winner in this year's disaster for most small businesses, ought to do more than "give away most of their money in their lifetime". They ought to take their current incredible wealth, earned because most of us had to switch to them during the crisis, and give literally most of it right now to help people get back on their feet. A Stimulus Packages, aimed directly at the businesses they ate this year.
Why would she necesshave any income?
If what she got from the divorce was in Amazon stock and she gives away the stock I don't think there are any tax consequences at all. I'm not even sure she has to report giving it away, does she? At least to the irs.
Amazon stock pays no dividends to tax
I am assuming she gives the stock. Not selling it, which would crea4a taxable transaction then giving money.
John Henry
To attract such a high status woman, he must be a really good listener.
Low-income people... persons of brown... kids. #BabyLiveMatter(BLM)
gilbar said...
i guess he WILL be paying more in taxes than he ever earned
One has to think that she insisted on a solid pre-nup, and given their income disparity, it might even make sense for them to file as married filing separately.
“I have been lucky to find my closest friends in people very unlike me in distinct ways: religion, sexual orientation, race, gender identity, socioeconomic background, you name it.”
Religion (e.g. ethics), gender, transgender, diversity dogmatists, classicists, you name it.
She would deduct the fair market value of the stock assuming she's held > 1 year, JH.
So he teaches at an exclusive school just like Jeffrey Epstein did?
I would be very impressed if they gave all of the money away now, either directly or into a blind trust where they will not be made extravagantly paid trustees, and lived off of his humble teacher’s salary.
And I would be even more impressed if they didn’t publicize this and we just by chance found out about if after their lifetimes were over. How about just shut up, Mackenzie and the man you bought?
"...but let's not pretend that he's toiling away in the public schools with low-income black kids."
Why would that be good enough? Let's not pretend he's toiling away in the slums of Calcutta, teaching blind beggar children.
Like others here, I feel that there's something wrong with this. I can't put my finger on it, and maybe my dissatisfaction has something to do with envy....If my life's work were to give away billions and billions of dollars, I would skip to work every day. It's a burden I could cheerfully shoulder.....Luck happens.
" . . . but only for a partner — companion — to help or stand by while you give your massive money away".
Perhaps she wanted a husband instead of a partner or companion. It happens.
I wonder if he taught middle school or high school.
I "toiled away" in an inner city school the majority at 99% black. Back in the early 80's I was on a date with a gorgeous woman who got a little to far into her cups. She told me - "I might fuck you but you really don't make enough money for me."
I knew that already but appreciated her tipsy frankness all the same.
It is strange to be writing a letter indicating I plan to give away the majority of my wealth during my lifetime, as I have never sought to gather the kind of wealth required to feel like saying such a thing would have particular meaning.
Even with wealth, such a "letter" has no meaning if by "meaning" you mean enforceable obligation.
"as I have never sought to gather the kind of wealth required to feel like saying such a thing would have particular meaning"
That's why he wasn't already a billionaire--he hadn't tried. He's not that bore of an ex-husband who was always grasping after lucre.
"Oh, well, if this money simply must be foisted upon me, I shall do the best I can. I have diverse friends, you know!"
"Who would you marry if you were a woman who not only had absolutely no use for extra money but only for a partner — companion — to help or stand by while you give your massive money away?"
Not a great sentence, but let's say you give away 99% of $55B.
That leaves you with a measly $550M to scrape by on.
I'm not impressed.
And how thick was the pre-nup?
He's not entitled to anything she had coming into the marriage.
But $55B throws off well over $1B in interest in a year.
Under CA law at least, he is entitled to half of that.
He must be great in bed.
"How can a real man keep a straight face in public about the "virtue" of pledging to give away most of the money your second-hand wife obtained in her divorce from the man who actually earned the money?"
I enjoy looking at real estate and houses I will never afford.
Over the years I have noticed a distinct pattern in ultra-expensive home sales, and the descriptions of the seller are always a giveaway. See if you can spot it:
'Ms. Johnson, 38, is selling the 3-acre, 25,000 square foot Malibu estate after the death of her husband. "It's just too big for me alone, and I'd like to spend more time in Monte Carlo where we have a smaller pied a terre, she said" Ms. Johnson is the founder of Vitacream, a beauty and cosmetics company. The late Mr. Johnson, 82, was the founder of Johnson communications, a global media, news, and entertainment conglomerate that was purchased by Rupert Murdoch for $22B in 2003.
You see? They make the trophy wife sound like a real go-getter. I mean, she founded a company and all. Of course, it was with hubby's money and nobody ever heard of it.
It's like a template; you could just copy and paste and fill in the names and amounts.
Women like Oprah who got there on her own? Massive respect even though I loathe her politics.
Checking out the dude's picture, I guess it was never about the money afterall. She has a "type."
New-hubby-schoolteacher sounds sincere... guess what I mean is I have no reason to believe otherwise.
William said: "...I would skip to work"
My trusted inner-circle would do most of the work for me
You're jealousy gives me a shadenboner.
After clicking through some of them, I don't think these letters were a good idea. Very difficult to get the tone just right. It's an awkward-trap. They should stick with the one pledge and signatures at the bottom.
I bet putting up a letter gets you clobbered by spam, including the in-person variety.
Easy to give away someone else's money. Sounds just like a Democrat.
Joe Smith said "That leaves you with a measly $550M to scrape by on."
Exactly. At which point they can say "Wealthy? Ha! We used to be wealthy. We gave away 99% of our fortune." I believe they'd be entitled to that remaining 1%.
To believe that you should give away great wealth is to assume that someone else will use it more wisely than you would. Probably a pretty good assumption in this case.
maybe even a permanent residence.
But will they give it to people trying to end Amazon's monopolistic, anti-privacy, anti-free-speech practices? Or will they give it to the 2022 election managers? Or who?
Sounds like this guy could be a Secretary of State.
It's easy to give if when you have so much. Or as the character Benjamin Sisko put it on the TV show Star Trek: Deep Space 9 "it's easy to be a Saint in paradise".
Uh, why not give it away right now?
What he and his new wife should do to have real credibility is to give away all of her wealth right now. Now, what are the odds they will do this? Zero.
"I "toiled away" in an inner city school the majority at 99% black. Back in the early 80's I was on a date with a gorgeous woman who got a little to far into her cups. She told me - "I might fuck you but you really don't make enough money for me."
I knew that already but appreciated her tipsy frankness all the same."
Did she have huge tracts of land?
I'm fine with seeing them praised for giving away the money. I don't get why the guy who actually made the money needs to be slammed.
MikeR said...
[people who own Amazon]...ought to... give literally most of it right now to help people get back on their feet.
What good would this do?
People have a hard time understanding scale. Amazon's current Market value is about 1.5 Trillion. This is less than the spending bill Democrats just passed (1.9 Trillion) of which Democrats allocated up to 1,400 payments to most - but not nearly all - American families. Does $1,400 make a material change to anyone's life? It may buy groceries for 3 months but this is a band aid. There are few families in this country that spend less than this per month.
Understand this is the complete value. To create this payment the source of funds is gone forever so what do you do next month? Even if we didn't water down the benefits as Dems did by sending the overwhelming majority on political payoffs it would still fund less than 5k / American, all of which presumes every dollar goes to Americans even though much of the value is created world wide.
This is the problem with the left's economic plan generally. Even confiscating all the world's wealth does not satisfy their spending plans, and then what do you do in year 2? There's nothing left to plunder but you haven't changed the underlying reality much either.
Heartless Aztec said...
I "toiled away" in an inner city school the majority at 99% black. Back in the early 80's I was on a date with a gorgeous woman who got a little to far into her cups. She told me - "I might fuck you but you really don't make enough money for me."
I think the appropriate response is "let's just focus on one thing at a time. So, first things first...".
It'll be interesting to see if money turns him into a cartoon villain, Lex Luthar, like it did Jeff Bezos.
Like Rush used to say - this is protection money. It signals to Democrat media and various lefty attack groups - leave us alone, we are fellow leftists. Don’t picket our house, if our kids mess up give them the Hunter treatment - ignore.
"I have been lucky to find my closest friends in people very unlike me in distinct ways: religion, sexual orientation, race, gender identity, socioeconomic background, you name it. Kindness and a willingness to find commonality despite differences has brought me together with them and changed me for the better...."
I don't mean to be mean, but you could read that as a warning sign.
"Who would you marry if you were a woman who not only had absolutely no use for extra money but only for a partner — companion — to help or stand by while you give your massive money away?"
Does "giving away" do more good than putting it to productive use? Some gifts worked out nicely (Carnegie?). But many of the major ones--e.g., Rockefeller, Ford, Mellon Foundations--turned out mostly bad. Let's say the jury is still out on Gates.
"thank you for your service-minded contributions. (Bezos? You, not so much.)"
What service-minded contributions? Who contributed more to the wellbeing of humanity, Jeff or MacKenzie?
"yeah, great, he's a teacher, but let's not pretend that he's toiling away in the public schools with low-income black kids."
Why is being a teacher particularly great? Isn't it racist to refer to teaching low-income black kids as "toiling away"?
Like Rush used to say - this is protection money. It signals to Democrat media and various lefty attack groups - leave us alone, we are fellow leftists
Exactly, the diversity racket, a subsidiary of the sociopolitical complex. That said, diversity dogma, not limited to racism, breeds adversity. #BabyLivesMatter(BLM)
Environmentalism, too. Don't forget to purchase carbon credits. Whack a bird, a bat, for laundered, redistributive, intermittent Green energy. Clear the land of grazers, ranchers, and cover it with the Green blight... a forward-looking social cost.
The pre-nup must be interesting reading & you know there is a pre-nup. I don't begrudge Mackenzie that or feel as some here do she isn't entitled to the money she has. Just saying.
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