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Lion
Decadent Flower Magnate


Registered: 09/20/05
Posts: 8,775
Last seen: 3 days, 18 hours
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Inheriting a large sum of money
#8051614 - 02/21/08 12:09 PM (15 years, 11 months ago) |
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In the Pub we're having a discussion about the Indian businessman who is building a $1 billion house in Mumbai, a city with ~10 million people living in substandard housing.
He inherited his billions from his father; he did not earn them.
What do you think you would do if you inherited a huge amount of money? I like to think that I would only keep a portion for myself, and would do a lot of research to figure out the wisest way to invest the rest to help others.
Am I being naive? I mean, having a ton of money might change most of my relationships, and I would have to learn about taxation and investment and things like this...These are the things that make people paranoid and stingy.
So, what do you think you would do? Let's say the sum is $1 billion.
-------------------- “Strengthened by contemplation and study, I will not fear my passions like a coward. My body I will give to pleasures, to diversions that I’ve dreamed of, to the most daring erotic desires, to the lustful impulses of my blood, without any fear at all, for whenever I will— and I will have the will, strengthened as I’ll be with contemplation and study— at the crucial moments I’ll recover my spirit as was before: ascetic.”
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PyroBurns
душа кофе


Registered: 10/14/07
Posts: 4,343
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Re: Inheriting a large sum of money [Re: Lion]
#8051633 - 02/21/08 12:14 PM (15 years, 11 months ago) |
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I truly think I would spend it wisely, but it wouldn't solve all my problems. The best way would definitely be to invest it, and try to follow the invisible hand concept. Spring up good businesses that are profitable and have benefits to the surrounding society. Then that would grow, the benefits would grow, and the money would grow.
It's only naive if you pretend you don't have a desire for all kinds of whacky material goods. But if you know you don't, then it's probably the truth. Maybe I'M naive, but I truly don't desire anything more than I have. Except for food.
-------------------- Remember to cut your nails regularly.
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MushroomTrip
Dr. Teasy Thighs



Registered: 12/02/05
Posts: 14,794
Loc: red panda village
Last seen: 2 years, 10 months
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Re: Inheriting a large sum of money [Re: Lion]
#8051644 - 02/21/08 12:16 PM (15 years, 11 months ago) |
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Well I would travel around the world with my love.  That's the top thing on the list. And if possible to other planets.
I would also invest a lot in psychedelic research and in education research. And I would invent a device to destroy ALL the TV frequencies  There's more but right now I am focusing on kicking someone's sexy ass at chess, so I'll get back to you later.
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   All this time I've loved you And never known your face All this time I've missed you And searched this human race Here is true peace Here my heart knows calm Safe in your soul Bathed in your sighs
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vigilant_mind
unfazed



Registered: 01/19/07
Posts: 1,717
Loc: boco
Last seen: 14 years, 6 months
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Re: Inheriting a large sum of money [Re: Lion]
#8051657 - 02/21/08 12:22 PM (15 years, 11 months ago) |
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Keep 20% for my own spending desires. The other 80% would go toward my college/graduate school education, bank investments, and a decent portion would go toward stem cell research (assuming it were legal).
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OrgoneConclusion
Blue Fish Group



Registered: 04/01/07
Posts: 45,414
Loc: Under the C
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Re: Inheriting a large sum of money [Re: vigilant_mind]
#8051665 - 02/21/08 12:27 PM (15 years, 11 months ago) |
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Reverse engineer a UFO.
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appleorange
Rainbow Technician



Registered: 12/30/07
Posts: 4,868
Loc: Reykjavík
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I would set aside enough money to ensure that I would never work a day again in my life, then I would probably give the rest of the money to someone like the Dalai Lama. I think he would be more qualified to handle large sums of money than me.
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backfromthedead
Activated


Registered: 03/10/07
Posts: 3,592
Last seen: 15 years, 6 months
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Re: Inheriting a large sum of money [Re: appleorange]
#8051753 - 02/21/08 12:51 PM (15 years, 11 months ago) |
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Hummers and starbucks for everyone, yay.
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mushbaby
woodswalker




Registered: 09/30/06
Posts: 2,645
Loc: in my own lil world
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First I would find ways to invest in something extremely safe for my money. With the interest earned I would buy all the goodies, gadgets, houses and stuff. There would definitely be some humanitarian aid going on.
Not sure exactly what, it would be focused on children and most of the charity work would be done in the US. I'd like to take as many kids under my wing as I could and help them get a good education, find safe places for them if they need it. That kind of thing.
Then I'd find someone with Tesla's brilliant mind and views on how electricity/power sources should be free and give them carte blanche for experimenting on renewable and practical sources of fuel.
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SneezingPenis
ACHOOOOOOOOO!!!!!111!

Registered: 01/15/05
Posts: 15,427
Last seen: 6 years, 8 months
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Re: Inheriting a large sum of money [Re: mushbaby]
#8051955 - 02/21/08 01:47 PM (15 years, 11 months ago) |
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I would buy a helicopter and fly around to those places where downtown meets the ghetto and start scattering thousands of dollars at a time so that panic, disorder, mayhem and riots would ensue. children would be trampled by their own greedy parents. then I would unleash the komodo dragons on them and everyone dies from gangrene.
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deranger


Registered: 01/21/08
Posts: 6,840
Loc: off the wall
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Re: Inheriting a large sum of money [Re: Lion]
#8052153 - 02/21/08 02:36 PM (15 years, 11 months ago) |
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I would probably build self-sustainable eco-villages around the world, and travel to festivals for the rest of my lfe.
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SneezingPenis
ACHOOOOOOOOO!!!!!111!

Registered: 01/15/05
Posts: 15,427
Last seen: 6 years, 8 months
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Re: Inheriting a large sum of money [Re: deranger]
#8052190 - 02/21/08 02:46 PM (15 years, 11 months ago) |
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you would be the ultimate trustafarian
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OrgoneConclusion
Blue Fish Group



Registered: 04/01/07
Posts: 45,414
Loc: Under the C
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Re: Inheriting a large sum of money [Re: SneezingPenis]
#8053184 - 02/21/08 06:39 PM (15 years, 11 months ago) |
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I would stay at home and argue with strangers on the internet over meaningless garbage all day long.
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NiamhNyx
I'm NOT a 'he'


Registered: 09/01/02
Posts: 3,198
Last seen: 14 years, 8 months
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I'd set aside a small portion for living expenses for the rest of my life, buy a modest house in the same neighbourhood I currently live in to share with friends, a large piece of land in the country and a warehouse with a couple of storefronts in the city.
The land and the warehouse would both exist for collective projects. The land-- collective permaculture farm/cohousing village type thing. I'd split the warehouse between various collective community projects - possibly a printing press, an organic/wildcrafted herbal medicine apothecary accessible to low income folks, a diy mental health collective, a bike collective, and the storefronts could be for a radical bookstore and a cafe.
I'd probably also put money into rooftop/community garden projects and getting my personal house and the warehouse off the grid.
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Icelander
The Minstrel in the Gallery



Registered: 03/15/05
Posts: 95,368
Loc: underbelly
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Re: Inheriting a large sum of money [Re: Lion]
#8054119 - 02/21/08 09:35 PM (15 years, 11 months ago) |
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Quote:
Lion said: In the Pub we're having a discussion about the Indian businessman who is building a $1 billion house in Mumbai, a city with ~10 million people living in substandard housing.
He inherited his billions from his father; he did not earn them.
What do you think you would do if you inherited a huge amount of money? I like to think that I would only keep a portion for myself, and would do a lot of research to figure out the wisest way to invest the rest to help others.
Am I being naive? I mean, having a ton of money might change most of my relationships, and I would have to learn about taxation and investment and things like this...These are the things that make people paranoid and stingy.
So, what do you think you would do? Let's say the sum is $1 billion.
Fuck of course, there are only so many toys one can use. I would spend lots of money on causes that bring me personal pleasure. (nature conservancy and animal rescue to name a couple) I would also amass a small personal army for the end times.
-------------------- "Don't believe everything you think". -Anom. " All that lives was born to die"-Anom. With much wisdom comes much sorrow, The more knowledge, the more grief. Ecclesiastes circa 350 BC
Edited by Icelander (02/21/08 09:36 PM)
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OrgoneConclusion
Blue Fish Group



Registered: 04/01/07
Posts: 45,414
Loc: Under the C
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Re: Inheriting a large sum of money [Re: Icelander]
#8054437 - 02/21/08 10:25 PM (15 years, 11 months ago) |
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Quote:
I would also amass a small personal army for the end times.
Rajneesh, you sly dog! You only faked your death. There are some cheap bungalows in Antelope...
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Humble lurker
Stranger
Registered: 02/11/08
Posts: 169
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Re: Inheriting a large sum of money [Re: Lion]
#8055254 - 02/22/08 05:28 AM (15 years, 11 months ago) |
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Buy an island and set up a country.
I'd have factories, a military etc but best of all my own team of scientists to build me jet packs and other crazy gadgets 
Selfish indeed it is.
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WhiskeyClone
Not here


Registered: 06/25/01
Posts: 16,509
Loc: Longitudinal Center of Canada ...
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Re: Inheriting a large sum of money [Re: Lion]
#8056507 - 02/22/08 01:28 PM (15 years, 11 months ago) |
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A billion?
I'd travel for a few years and find some worthy causes.
Quote:
Lion said:
He inherited his billions from his father; he did not earn them.
Mukesh Ambani did inherit a sizable share of a multi-billion dollar group, but he is an industrious business man who has earned billions on his own. He is not the Paris Hilton of India.
-------------------- Welcome evermore to gods and men is the self-helping man. For him all doors are flung wide: him all tongues greet, all honors crown, all eyes follow with desire. Our love goes out to him and embraces him, because he did not need it. ~ R.W. Emerson, "Self-Reliance"
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Lion
Decadent Flower Magnate


Registered: 09/20/05
Posts: 8,775
Last seen: 3 days, 18 hours
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Re: Inheriting a large sum of money [Re: WhiskeyClone]
#8056523 - 02/22/08 01:32 PM (15 years, 11 months ago) |
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With billions, it's not hard to make billions. Do you know for sure that he's industrious? I don't know enough about him to now whether he's industrious or whether he has a lot of good business people working for him.
-------------------- “Strengthened by contemplation and study, I will not fear my passions like a coward. My body I will give to pleasures, to diversions that I’ve dreamed of, to the most daring erotic desires, to the lustful impulses of my blood, without any fear at all, for whenever I will— and I will have the will, strengthened as I’ll be with contemplation and study— at the crucial moments I’ll recover my spirit as was before: ascetic.”
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WhiskeyClone
Not here


Registered: 06/25/01
Posts: 16,509
Loc: Longitudinal Center of Canada ...
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Re: Inheriting a large sum of money [Re: Lion]
#8056567 - 02/22/08 01:43 PM (15 years, 11 months ago) |
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He had a lot of initial capital, to be sure.
But you can't say he didn't earn enough to build that shack of his.
I've never met him but FWIW the international business community seems to think he's a gifted earner. Read about him if you are interested.
-------------------- Welcome evermore to gods and men is the self-helping man. For him all doors are flung wide: him all tongues greet, all honors crown, all eyes follow with desire. Our love goes out to him and embraces him, because he did not need it. ~ R.W. Emerson, "Self-Reliance"
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Lion
Decadent Flower Magnate


Registered: 09/20/05
Posts: 8,775
Last seen: 3 days, 18 hours
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Re: Inheriting a large sum of money [Re: WhiskeyClone]
#8056584 - 02/22/08 01:51 PM (15 years, 11 months ago) |
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Quote:
But you can't say he didn't earn enough to build that shack of his.
I've never met him but FWIW the international business community seems to think he's a gifted earner.
I just wonder whether they're talking about him, or about the already-existing structure that he manages. I haven't heard of many billionaires failing to increase their earnings, though I'm sure it does happen. I'll read more about him for sure.
-------------------- “Strengthened by contemplation and study, I will not fear my passions like a coward. My body I will give to pleasures, to diversions that I’ve dreamed of, to the most daring erotic desires, to the lustful impulses of my blood, without any fear at all, for whenever I will— and I will have the will, strengthened as I’ll be with contemplation and study— at the crucial moments I’ll recover my spirit as was before: ascetic.”
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