Yahoo! Stanford Alumnus donates $75 million

Yahoo co-founder Jerry Yang will donate $75 million to Stanford University, the university from where he graduated and where he and a fellow student by the name of David Filo began working on a directory of Web sites that became one of the Internet's first big success stories. Stanford said $50 million of the donation will be used to cover the costs of a new environmental studies center scheduled to be completed in December, $5 million will help fund a 120,000-square-foot center for training doctors but it is unclear how the leftover $20 million will be used. At 38, Yang's stake in Yahoo is currently worth about $1.8 billion.

Link: Forum Discussion (Thanks Hum)
News source: MSNBC

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11 Comments

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Whenever someone donates money it's always blah blah DIFFERENT CHARITY blah blah TAX DEDUCTION blah blah.

The money doesn't belong to you. Stop acting as if you have a say in how it's spent.

(And yes, I am aware of the irony of posting an opinion telling people not to have an opinion)

You know if I had money and decided to donate it, I would definalty say I am NOT deducting this from taxes and I will prove to you I didnt with a copy of my tax return.... because personally I am sick of people saying "oh they will just deduct it"... well you deduct it doesnt mean you get 100% of it back or even 50% back... but just to say hey look I actually care I would do it with no deductions, and I wish these people would do it also jus so people couldn't say "oh they will just write it off"

neufuse said,
You know if I had money and decided to donate it, I would definalty say I am NOT deducting this from taxes and I will prove to you I didnt with a copy of my tax return.... because personally I am sick of people saying "oh they will just deduct it"... well you deduct it doesnt mean you get 100% of it back or even 50% back... but just to say hey look I actually care I would do it with no deductions, and I wish these people would do it also jus so people couldn't say "oh they will just write it off"

That is because you are an idiot and are donating for the purpose of making yourself feel better - not for the cause itself. If you got 30% of it back via taxes, you could donate 30% more and make a bigger difference, yet still have the same amount of money left over for yourself.

mystmaster23 said,

That is because you are an idiot and are donating for the purpose of making yourself feel better - not for the cause itself. If you got 30% of it back via taxes, you could donate 30% more and make a bigger difference, yet still have the same amount of money left over for yourself.

no crap... BUT this is the only way to get the whiney idiots that scream tax write off it means nothing to them! to stop whineing... personally I hate when people donate money, donate time!.... money always has too much contraversey tied to it... no mater what you do with money people scream theres an alteriour motive... people need to actually DO something to help

Instead of this guy donating money, why didnt he donate his time and knowladge to a univeristy, teach a class for free or something. if you made that much to start with, you have knowladge to spread to others

Instead of this guy donating money, why didnt he donate his time and knowladge to a univeristy, teach a class for free or something. if you made that much to start with, you have knowladge to spread to others

Maybe he has better things to do with his time...like run a multi-billion dollar company.

Somehow I don't think Stanford University really needs $75 million. I'm sure there are plenty of other worthy causes which could desperately do with that kind of money...

matt_hobbs05 said,
Somehow I don't think Standford University really needs $75 million. I'm sure there are plenty of other worthy causes which could desperately do with that kind of money...

Agreed.

Stanford said $50 million of the donation will be used to cover the costs of a new environmental studies center scheduled to be completed in December, $5 million will help fund a 120,000-square-foot center for training doctors but it is unclear how the leftover $20 million will be used.

Look where the money is going. Many alumni give back to the colleges they attended to help fund programs. I cant see how you can 'think' Standford doesnt need the money to train doctors and fund environmental studies.

I don't understand how these young guys could be wasting such extravagant sums of money when there are so many hookers to be bought.