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Google billionaire saved his money by charity loophole

Google co-founder and billionaire Larry Page is the subject of a report Wednesday from tech journal ReCode which shows how the Silicon Valley super-rich use workarounds in managing their private foundations that avoid direct contributions to actual charities. Page’s Carl Victor Page Memorial Foundation pushed around $400 million in publicly announced Christmastime donations between 2015 and 2017, but none of it reportedly went directly to charity.

— source commondreams.org, vox.com | 2019/12/18

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