Regular commenter Gene Finley writes,
I¹m a little shocked you haven¹t commented on T. Boone Pickens¹ recent
contributions. He made two $50 million contributions that cannot be spent
until they are ten times their original size. That¹s 25 to 30 years most
You and I don¹t generally agree about endowment in perpetuity but in this
case I find it a little absurd that a gift this large has such a
restriction. It¹s just such a pitiful attempt at immortality.
There’s hardly anything to say when someone makes this clear that he’s not really generous–he just plays a generous person on tv. I’d be grateful to hear from anyone who has a defense to make of this piling up of assets.
Tags: Private Philanthropy