Tech Billionaire Slams His Peers For Being 'Stingy'

[daredtowork]

I especially love how Marc Benioff says people need to take action NOW, not pledge to take action after they die. I don't really follow the lifestyles of the rich and famous in San Francisco - does this guy usually sound like he should be Mayor of Everything?

http://www.businessinsider.com/marc-benioff-tech-ceos-have-been-stingy-2014-12

As a resident of the Bay Area who has suffered a lot under the regime of tech stinginess, all I can say is I can't wait to see how he (literally) puts his money where his mouth is. And I want to know who else, BY NAME, is getting on his bandwagon.

[True Blue Door]

1. Give it all away.

The one and only reason I would be motivated to become rich is the capacity to do that in spectacular fashion.

[daredtowork]

2. I wouldn't hold Benioff to that.

Once you give it all away, they all you can do is complain like everyone else. While you still have money, you have the power to get stuff done. So while Benioff has the power to get stuff done, I hope he uses that power to do some good.

There's a group/journal called "More than Money" where the purpose is kind of defeated because there are a lot of filters around that group: i.e. there is a big paywall around their conferences and it would be next to impossible for someone not on their level to form a connection with their members. That's how the caste system in the US forms in the first place. The "will" is there, but the "way" is not.

What we need is for people with the money to use their money in ways that actually break that caste system - at least gradually.

It strikes me that Benioff could actually do things to make that happen. I hope I can see some of that.

[closeupready]

8. To an extent, that's what J.K. Rowling has done.

She's given away the majority of her wealth - so much that she fell OUT of the billionaire's club.

She'll continue to do okay as royalties will pay handsomely in the future. Still...

[True Blue Door]

9. I wish I could be rich just to give it away like that.

I have so many ideas for ways to help.

[WestCoastLib]

3. I've been fortunate to work for him.

As briefly touched upon in that article, in addition to pretty good (very good compared to most) working conditions and respect for work life balance, employees get (to begin with) 6 full days of paid Volunteer time off. If you want to volunteer anywhere, you can take 48 hours paid to do so.

No real restrictions. Volunteer at a homeless shelter, your child's school, animal shelter, any non-profit organization. Some people do take it to go overseas in various volunteer / relief organizations. Others take a few hours here and there to volunteer locally. Its not only accepted, but encouraged from the top down that employees use that time.

Benioff is legit and hopefully a role model for the type of CEOs and corporations that are needed to really change the way our workforce operates in the future.

[daredtowork]

5. Nice to know!

I should take a look at jobs offered by his company. While normally I would equate anything with the word "sales" in it with poor working conditions, your testimonial is noted.

[Cha]

4. K

[Jesus Malverde]

6. Benniof "gave" 100 million dollars to the University of California San Francisco

In exchange he gets his name plastered all over town, on advertising and they renamed the hospitals after him. I'm sure he also has the whole medical staff at his beck and call.

Foundations and gifts like these are a way for the rich to offset their income with tax write-offs.

The gates foundation is an example of locking up your money and being able to use it for pet projects without paying taxes.

If he were serious about this he would instead argue for windfall taxes on the 1%.

[daredtowork]

7. Has he said anything on taxes?

Even Warren Buffett makes noises about the 1% not paying their fair share in taxes these days. Perhaps Benioff also has opinions on this?

I know what you mean about all the fake tax-write-off generosity, though. Foundations are also used for patronage - particularly political patronage.

But given the notable stinginess of Silicon Valley, if even one of the Kings is going to come out in favor of spreading the largesse, I want to call it out.

[maced666]

10. Billionaire?

If he has more than one million to his name he is a hypocrite. "Give away 1 billion by 2024'. lol It takes 10 years to do that?!

Net worth 3.2 billion http://www.celebritynetworth.com/richest-businessmen/ceos/marc-benioff-net-worth/
How much more will he make in that time?

He's so full of it - mostly cash. How about giving it all away, give him a month to pick the schools, charities - shelters - and using his salary to survive - survive defined as still living better than the 99%.

[daredtowork]

11. As I said, I look forward to see him put his money where his mouth is!

And I will be watching!

You're right about the interest stacking faster than he can spend that kind of money.

Though in San Francisco, we will be lucky if rent isn't 1 million/month sometime soon...