[harmmonica]

If only there was some sensible way for 25M children to be given a financial head start that wasn't Michael Dell directly funding it.

See his total net worth and the YTD increase: https://www.bloomberg.com/billionaires/profiles/michael-s-de.... Google/ChatGPT his 2019 (pre-covid) net worth (I'll save you the trouble): $27B. It doesn't matter if it's super accurate because we all know the multiple is probably pretty accurate given what's transpired.

And before you go calling me a wealth hater, I just wish the US wasn't such a wealth lover. Just a bit less emphasis on people getting rich and a bit more emphasis on getting our shit together so that the government can fund savings accounts for kids and while they're at it teach them some basic understanding of investment/budgeting.

[twoodfin]

The government is now funding savings accounts for kids, with the financial education benefits a prime motivator.

Dell’s contribution is explicitly piggybacking on the new federal accounts.

[harmmonica]

Yes, good call, you're right. Does that completely undercut my sentiment? That said, I'm all for Dell and every other billionaire jumping on board as well because you'd end up with a pretty nice entitle--err--nest egg for the future. I even have a clever name for it: pre-social security.

[tjwebbnorfolk]

Why is private philanthropy not sensible in this case? Should all philanthropy be socialized and centralized and administered by the federal government?

[harmmonica]

No, it should not all be socialized and centralized. Think things are running smoothly in the US at the moment? I wish it were the case that Michael Dell would have to consider whether the deployment of that kind of capital is a layup for him or if it requires some major sacrifice on his part. And, yes, it's better that he does it than not, but I won't pat him on the back too hard given the math.