Paul Allen

[Clitheroekid]

I noticed that Paul Allen, the co-founder of Microsoft, has just died at the young age of 65 - https://www.theguardian.com/technology/ ... GTUK_email

It was another reminder - as if it were needed - of how utterly useless money is compared to one's health. He was apparently worth $20bn, but it may as well have been $20 for all the difference it made.

As he was unmarried and childless it'll be interesting to see who he's left it to.

[Dod101]

Thanks for that CK. What a strange world it is. In Seattle a few years ago we came across his yacht in the harbour there and then the Experience Music Project as it was then snappily known, founded by Paul Allen with inter alia JImi Hendrix and Nirvanna's guitars and history. It is now the Museum of Pop Culture I think.We felt we almost knew the guy because there are many other signs of his generosity to his home city very much in evidence as well.

AS we keep saying without health we have nothing.

Dod

[nimnarb]

I noticed that Paul Allen, the co-founder of Microsoft, has just died at the young age of 65 - https://www.theguardian.com/technology/ ... GTUK_email

It was another reminder - as if it were needed - of how utterly useless money is compared to one's health. He was apparently worth $20bn, but it may as well have been $20 for all the difference it made.

As he was unmarried and childless it'll be interesting to see who he's left it to.

How true.

[swill453]

I noticed that Paul Allen, the co-founder of Microsoft, has just died at the young age of 65 - https://www.theguardian.com/technology/ ... GTUK_email

It was another reminder - as if it were needed - of how utterly useless money is compared to one's health. He was apparently worth $20bn, but it may as well have been $20 for all the difference it made.

As he was unmarried and childless it'll be interesting to see who he's left it to.

How true.

Well in his lifetime he either gave away or spent on good causes more than any of us will earn in a lifetime (more than $2billion) so I'd expect that to continue.

Scott.

[Lootman]

As he was unmarried and childless it'll be interesting to see who he's left it to.

How true.

Well in his lifetime he either gave away or spent on good causes more than any of us will earn in a lifetime (more than $2billion) so I'd expect that to continue.

Allen gave away 11% of his net worth during his lifetime, which still leaves an estate in excess of $20 billion.

One thing to bear in mind is that US estate taxes can be quite punitive for large estates. For instance the Federal rate of estate tax is the same as here - 40%. But then Washington State itself imposes an estate tax of between 10% and 20% meaning that, if no steps were taken, then over half that estate could be seized.

So it's a fair bet that there was planning for this, especially as his illness has been known for a while. A simple device would be to leave the bulk of his estate to the Gates Foundation, given his close relationship with the MicroSoft co-founder. Warren Buffett has also deeded most of his wealth to the Gates Foundation. Solves the estate tax problem at a stroke.

Allen owns a few pro sports team franchises in the Pacific North-West as well. I've no idea in what form they are held.

[swill453]

A simple device would be to leave the bulk of his estate to the Gates Foundation, given his close relationship with the MicroSoft co-founder. Warren Buffett has also deeded most of his wealth to the Gates Foundation. Solves the estate tax problem at a stroke.

There's already the Paul G. Allen Family Foundation (http://www.pgaphilanthropies.org/About/ ... Foundation) so no need to piggyback onto Gates's.

Scott.