George Kaiser's Forbes 400 Profile...

[pfox]

http://www.forbes.com/lists/2007/54/richlist07_George-Kaiser_OXNB.html

Net Worth $11.0 billion   Source BOK Financial (quote: BOKF), Oil/Gas, Self made


Age 65
Marital Status Married, 3 children
 Hometown Tulsa, OK, United States
Education Harvard University, Bachelor of Arts / Science
Harvard University, Master of Business Administration


Family fled Nazi Germany 1938, settled in Oklahoma. Parents developed oil and gas business. Took over 1969; expanded into real estate, banking, derivatives. Today Kaiser-Francis produces 12 million barrels of oil and natural gas equivalents annually. Owns 45 million shares of BOK Financial worth $2.3 billion. Also runs liquefied natural gas outfit Excelerate Energy; has invested more than $1 billion in LNG ships and terminals over past few years. Fights childhood poverty through George Kaiser Family Foundation; pledged $60 million to redevelop a blighted community alongside a 42-mile stretch of Arkansas River.

[pfox]

Undoubtedly, this profile was written by some intern for the magazine.  Good lord.[B)]

[Conan71]

So his gift to the river works out to be 1% of his net worth.  If we don't pass this tax package, I'm sure he can find it in his heart to contribute more later, I don't think he's going to run out of cash anytime soon.

[sgrizzle]

For those who think the river is fine the way it is... Forbes disagrees.

[Conan71]

quote:Originally posted by sgrizzle

For those who think the river is fine the way it is... Forbes disagrees.

I'll agree with Forbes when they take that gun away from my head.

[Chicken Little]

Davaz is working for Forbes?

[YoungTulsan]

I recall last years list had him worth 8.something billion.  So he's worth more than 2 billion more than a year ago.   Nice year for him!

These theoretical net worths are kind of silly though.  Bill Gates doesnt have 60 billion, and it would be almost unphathomable for him to cash all of that out (I think Buffet is actually doing this, and it is over a period of many years to actually cash in his investments)

But Gates' paper fortune will jump up and down from 40 billion to 80 billion based on the markets.

[inteller]

SO to say the least....a 117 million bucks isn't going to hit his bottom line whether the public votes yes or no.  He should donate the money either way.

[Townsend]

quote:Originally posted by inteller

SO to say the least....a 117 million bucks isn't going to hit his bottom line whether the public votes yes or no.  He should donate the money either way.

Much of that money isn't his.  I'm sure the money being gifted is an investment.  Increased business due to betterment of the river.

[Tony]

The 117 million is chump change , offered through Kaisers charitable arm-- the same arm lowers his tax bracket one for one for every dime he "gifts" - and the only reason it is a one time only or else offer -- is that it will be a different sum offer the next go around -- this 117 million helps KAISER this tax season -- not next.

[Townsend]

Their money, their choice.  

If it's a tax break at least it's good for me.  Most of the wealthy person's tax breaks aren't doing dingus for me.  

Yes, dingus.

[guido911]

Conan: "So his gift to the river works out to be 1% of his net worth."

What a cheapskate

[RecycleMichael]

quote:Originally posted by Townsend

Their money, their choice.  

If it's a tax break at least it's good for me.  Most of the wealthy person's tax breaks aren't doing dingus for me.  

Yes, dingus.

That is a very good point. I think I sense some resentment because some people think that he is not giving enough or shouldn't follow the tax rules.

I am guessing he is giving more money than any single gift in the history of this town. I also don't know many philanthropists who don't know the tax implications of their giving.

The Kaiser Foundation has many other causes it supports. The bank also has an entire lending arm for supporting needed areas of our community.

We only have one guy this rich in our town and only three billionaires in our whole state. He is keeping that money local and is probably putting up more than the combined annual salaries of the 1,800 TulsaNow members.

[TheArtist]

To a lot of people from larger, wealthier communities, and apparently some from Forbes lol, Tulsa really does look like a small, poor, blighted community.

[RuralDweller]

quote:To a lot of people from larger, wealthier communities, and apparently some from Forbes lol, Tulsa really does look like a small, poor, blighted community.

Truthfully, it's no surprise that those from outside this community who drive into it, think it is a blighted community.  Other than cleaning up (somewhat) this year for the PGA, a typical drive into this city in the summer shows overgrown right-of-ways, dilapidated and defunct businesses, roads that will literally destroy the front-end on your vehicle, etc.  

Maybe it's time we took care of the basics first.  Once we get our roads & infrastructure beefed up, may then we can think about frills such as the river, etc.  I find it curious that a large segment of the voting populace thinks it's OK to mount a tax for river improvements while the infrastructure of this city is quite literally falling apart.