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December 09, 2018, 06:08:34 pm
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Author Topic: George Kaiser and philanthropy...  (Read 9112 times)
cannon_fodder
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« Reply #15 on: August 17, 2017, 08:54:29 am »

Somehow it escaped me that he was born into wealth.  I had always assumed that when he mentioned the ovarian lottery that he was referring to where/when he was born and then all else fell into place.  Weren’t his parents Jewish refugees who fled Nazi Germany?

Yep.  While the start of the story is horrible, its a great American tale.  His parents were forced out of Nazi Germany, came here, and basically started over.  While it seems George Kaiser was born into a good family and was granted fantastic opportunities, it also seems he could have coasted along and lived a comfortable life.  But he didn't.  By all accounts he worked harder than anyone else and went on to world class wealth.  Then decided to give it away.

From wikipedia:

Quote
Kaiser was born on July 29, 1942 in Tulsa, Oklahoma.[1][2][6] He attended Central High School in Tulsa.[7] He earned a B.A. from Harvard College in 1964 and an MBA from the Harvard Business School in 1966.[8] He briefly considered joining the U.S. Foreign Service, but instead returned to Tulsa in 1966 to work for his father. Kaiser-Francis Oil Co. was created in the 1940s by Kaiser's uncle and parents, Jewish[9][10] refugees from Nazi Germany who settled in Oklahoma.[11][12]

George's father, Herman had been a judge in Germany until 1935, when he was removed from his job by the Nazis because he was Jewish. He and his wife escaped to England in 1938, then emigrated to the United States. They settled in Tulsa, where Herman's aunt and uncle already lived. Herman joined the uncle's oil drilling business. Their son was born in Tulsa.
. . .
George Kaiser took control of Kaiser-Francis Oil Company in 1969, after his father had a heart attack. Kaiser-Francis was a little-known, privately owned oil prospecting and drilling company at the time. Under George's management, it became the 23rd largest nonpublic energy exploration company in the U.S. by 2010. In that year the company earned about $217 million, based on estimates by Bloomberg News.
. . .
Kaiser typically works 70 hours a week in his office, spending half his time on philanthropy and the rest on banking, energy and other business interests.
. . .
Kaiser is listed third on BusinessWeek's 2008 list of the top 50 American philanthropists, behind Warren Buffett and Bill and Melinda Gates.
https://en.wikipedia.org/wiki/George_Kaiser
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Conan71
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« Reply #16 on: August 17, 2017, 10:37:16 am »

Yep.  While the start of the story is horrible, its a great American tale.  His parents were forced out of Nazi Germany, came here, and basically started over.  While it seems George Kaiser was born into a good family and was granted fantastic opportunities, it also seems he could have coasted along and lived a comfortable life.  But he didn't.  By all accounts he worked harder than anyone else and went on to world class wealth.  Then decided to give it away.

From wikipedia:
https://en.wikipedia.org/wiki/George_Kaiser

Unlike Dougie Pielsticker who pissed away a nice fortune his father busted his a$$ building.
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« Reply #17 on: August 17, 2017, 10:56:48 am »

Unlike Dougie Pielsticker who pissed away a nice fortune his father busted his a$$ building.

Had a good friend of mine get caught up in that hot mess.  She lost her job and said most everyone got blindsided.
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TulsaGoldenHurriCAN
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« Reply #18 on: August 17, 2017, 01:05:56 pm »

Unlike Dougie Pielsticker who pissed away a nice fortune his father busted his a$$ building.

I read somewhere that 70% of wealthy families lose their wealth by the 2nd generation:

time.com/money/3925308/rich-families-lose-wealth/

It is incredibly difficult to build something that lasts beyond a generation. Sad that so many entitled trust fund babies end up wasting so much wealth. A lot of that is unrealistic lifestyle expectations that cause them to far outspend what the wealth will produce (similar to the Arrow Trucking where he cheated and stole from the company to keep up with his lavish lifestyle which was out of control).
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« Reply #19 on: August 17, 2017, 02:42:14 pm »

I read somewhere that 70% of wealthy families lose their wealth by the 2nd generation:

time.com/money/3925308/rich-families-lose-wealth/

It is incredibly difficult to build something that lasts beyond a generation. Sad that so many entitled trust fund babies end up wasting so much wealth. A lot of that is unrealistic lifestyle expectations that cause them to far outspend what the wealth will produce (similar to the Arrow Trucking where he cheated and stole from the company to keep up with his lavish lifestyle which was out of control).



That's why there used to be an estate tax.  Recognition that society can leave a big piece of fortune in the hands of kids, but the other half should go back into the pot.  Like in the board game Monopoly.  Should be required playing in public schools a few times every school year.  And absolutely mandatory - repeatedly - in "Harvard MBA" programs!!!

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« Reply #20 on: August 17, 2017, 06:57:03 pm »

Had a good friend of mine get caught up in that hot mess.  She lost her job and said most everyone got blindsided.

No one saw it apparently.  The driver's fuel cards were just shut off.  Imagine being a truck driver stranded 1500 miles from home right before Christmas.  What a foobared up deal.
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« Reply #21 on: October 29, 2018, 08:05:13 pm »

I found this interesting.  The USDA is moving 700 jobs to a new office outside of DC.  They received 136 proposals from 35 different states, including three from Oklahoma: Pawnee, Stillwater (in conjunction with OSU) and Tulsa.  The applicant from Tulsa was GKFF.

http://southeastagnet.com/2018/10/22/usda-receipt-expressions-ers-nifa/
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« Reply #22 on: October 29, 2018, 09:12:31 pm »

I found this interesting.  The USDA is moving 700 jobs to a new office outside of DC.  They received 136 proposals from 35 different states, including three from Oklahoma: Pawnee, Stillwater (in conjunction with OSU) and Tulsa.  The applicant from Tulsa was GKFF.

http://southeastagnet.com/2018/10/22/usda-receipt-expressions-ers-nifa/

Interesting.  Glad they are seeing an opportunity and going for it for us.  Glad someone is.
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« Reply #23 on: November 02, 2018, 01:13:27 pm »

This is the type of thing where OSU should’ve partnered with GKFF for a joint Tulsa submission to increase the odds of landing the office.  The Greenwood campus would be a perfect location for this office and research center.  700 new jobs would also really enhance what’s already going on in the Arts District next door.
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« Reply #24 on: November 13, 2018, 11:37:30 am »

Thoughts on this GKFF program?  I think it's pretty innovative and a way to bring more start-ups to Tulsa. 

https://qz.com/work/1461211/remote-workers-can-get-a-cushy-apartment-free-office-space-and-10000-if-they-move-to-tulsa/?fbclid=IwAR1PYUL5BTYsU6jL2mELdnjqR-Wwxg5U_kGODcUm8HEXMtAeDQMK4dPpqNE

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« Reply #25 on: November 13, 2018, 12:24:47 pm »


I think it's great. It sounds a bit ridiculous at first, that some billionaire will pay you $10,000 to move to Tulsa, but on closer look, it sounds like an interesting way to get skilled people to move here and experience all the cool things going on here they would otherwise might not ever know about. It is specifically targeting those who work remotely and looks like they're hoping to lure in entrepreneurial people.

Quote
They’ll also have the option of living in new furnished apartments in the Tulsa Arts District for 33 percent off the base price, as well as free utilities, for the first three months.

Other perks include free work space at 36 Degrees North, weekly brainstorming sessions with other program members and community-building opportunities. Tulsa’s Young Professionals will offer monthly workshops to help develop skills and strategies to work better remotely.




Quote
“I think a big part of the success of this will depend on how good the fit is,” Levit said. “We are making an investment in a person, and we want the people to be the kind of folks who are really going to be committed to give that year everything they have and really have a sense that they’re giving Tulsa a good-faith try for a lot longer period of time.”

https://www.tulsaworld.com/goodnews/would-you-move-to-tulsa-for-the-george-kaiser-family/article_cce94a24-6943-5098-acdc-9c6208d5fd4c.html


It sounds like the application process will be long and should weed out any tire-kickers just wanting the $10k and not actually be interested in Tulsa. Maybe it still could be scammed, but interesting idea nonetheless. Really great opportunity for young professionals wanting to try out Tulsa. That would be neat if it works as intended and brings in some new residents that can help boost the startup scene. Would be really neat if any of them end up starting businesses here.
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« Reply #26 on: November 13, 2018, 12:56:00 pm »

This situation reminds me a bit of the old mining towns where the same company that lures you in with a bonus and owns the mines you go to work for also owns the apartments for rent, the amenities, the bars and everything else in the town. GKFF, which is responsible for a large portion of the Arts District revitalization, is offering apartments, owns the building they'll use for office with 36 Degrees north, built the Guthrie Green park, funds the museums around there, built the Gathering Place park, runs the Jazz club and is landlord for a large portion of places near there. George Kaiser owns the largest bank around, one they might get a car loan or mortgage through. BOK is one of the largest employers around. There's the tallest BOK building and the #1 venue BOK Center... BOKs all around and GKFF footprint everywhere!

Still they'd have plenty of options for careers and places to live that don't involve BOK so not really like a mining/company town. Also, most of it is non-profit and Kaiser is donating his majority share to GKFF so I'm all for supporting BOK. It'll just seem to people moving here like BOK/GKFF owns practically everything similar to how visitors to Pittsburg see how they seem to love their Heinz. They'll soon learn that QT is our first love  Grin
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« Reply #27 on: November 14, 2018, 12:20:20 pm »

One of the things I hear often from Tulsa executives trying to recruit out-of-state talent is the hardest thing is getting them to visit Tulsa.  If they visit, the companies are often successful in hiring them.  This program is an innovative way of exposing more people to Tulsa and overcoming that first visit problem.  If it’s successful, it might be worth exploring whether the city could scale it up with some public funding. 
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« Reply #28 on: November 14, 2018, 12:58:08 pm »

One of the things I hear often from Tulsa executives trying to recruit out-of-state talent is the hardest thing is getting them to visit Tulsa.  If they visit, the companies are often successful in hiring them.  This program is an innovative way of exposing more people to Tulsa and overcoming that first visit problem.  If it’s successful, it might be worth exploring whether the city could scale it up with some public funding.  

A lot is said about local governments doling out incentives for companies to relocate.  This is a similar private-based program that is not targeting companies but individuals, those that can live downtown and be a part of the startup scene.  I've heard GKFF has already been recruiting people to Tulsa in a similar way this just opens it up to a potentially bigger audience.
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« Reply #29 on: November 14, 2018, 12:58:46 pm »

One of the things I hear often from Tulsa executives trying to recruit out-of-state talent is the hardest thing is getting them to visit Tulsa.  If they visit, the companies are often successful in hiring them.  This program is an innovative way of exposing more people to Tulsa and overcoming that first visit problem.  If it’s successful, it might be worth exploring whether the city could scale it up with some public funding. 

Good point! People I've shown around downtown recently come away surprised and impressed that it offers many of the same things larger cities have but with much better accessibility and usually at lower cost. Tulsa has some unique things that set it apart too. All of the urban districts and various enclaves of culture give a local flavor and do well exhibiting Tulsa's culture. It's big enough to keep you busy and entertained, but small enough to be very livable and easy to enjoy without being trapped in traffic or high rent.
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