'This Week' Transcript: The Giving Pledge

Share
Copy

B. GATES: The United States government is the biggest funder of an AIDS vaccine. We're, I think, the second, and so there's a lot of different approaches that are getting funded.

AND JUST THIS WEEK THE NATIONAL INSTITUTES OF HEALTH ANNOUNCED WHAT THEY CALLED THE MOST SIGNIFICANT BREAKTHROUGH IN YEARS...TESTS SHOW A NEW PILL TAKEN DAILY DRAMATICALLY REDUCED THE RISK OF AIDS AMONG HIGH RISK GAY MEN. IT WAS PAID FOR BY THE NIH AND THE GATES FOUNDATION.

GATES: We are particularly helpful when we can gather the right group of scientists, take a long-term point of view and keep the visibility of the impact as high as possible.

BILL AND MELINDA GATES' THREE CHILDREN ARE RARELY PHOTOGRAPHED BUT HAVE TRAVELED WITH THEIR PARENTS ON THEIR OVERSEAS TRIPS.

AMANPOUR: How do they react when you take them to some of the abject poverty that exists in this world?

M. GATES: I don't think you can go into an AIDS orphanage and not leave a changed person. And so even though the orphanages that we've been in, in South Africa, with them look really nice, they know at the end of the day, when we leave, those children don't have any parents. And that affects a child deeply.

CHRISTIANE: most people assume that they're going to leave whatever they've made and whatever they've done to their offspring. But you don't feel that way.

B GATES: I don't think it's a favor to a child or to society to have immense amount of wealth bequeathed to them simply because of the family they're in. You know, they want to develop their own identity, their own excellence. And clearly, they're going to get some benefit in terms of going to great schools and broad exposure, but then have a chance to make their own way.

M GATES: and I think what we've tried to instill in our own kids is that with great wealth comes incredible, enormous responsibility.

BILLIONAIRE TURNED PHILANTHROPIST TED TURNER AGREES AND HE'S PLEDGED THE MAJORITY OF HIS MONEY TO THE UN FOUNDATION TO HELP ERADICATE POVERTY and DISEASE AND TO THE NUCLEAR THREAT INITIATIVE ELIMINATE NUCLEAR WEAPONS.

TURNER: I don't believe it's really healthy to pass on fortunes to children just because they're your children. They're not necessarily more worthy than anyone else -- and if they get everything from their parents or from the previous generations then their life doesn't have the kind of meaning or the challenges that being able to make it on their own does.

AMANPOUR: what was your highest net wealth?

TURNER: Close to 10.

AMANPOUR: And it plummeted with the plunging of the Time Warner stock to --

TURNER: Less than two.

AMANPOUR: How did you stomach that?

TURNER: I lost $10 million a day every day for three years. I stayed with Time Warner because my family and friends had a lot of stock in the company and I was on the board and I just -- I was like the captain of the Titanic. I went down with the ship. It hurt because I worked hard to get that money. I've worked hard. Like that song, "She Works Hard for her Money." That was my theme song.

AMANPOUR: How did you triumph over that?

TURNER: I just -- I hung in there. But I had a rough couple of years. I lost most of my fortune. I lost my job. I lost my wife, and I lost a grandchild, passed away. All in the same year. And I thought about giving up. But I couldn't give up because then what would I do? I wasn't going to go -- quitters never win and winners never quit. I remember -- that's kind of been my slogan for a long time.

Page
null
Join the Discussion
You are using an outdated version of Internet Explorer. Please click here to upgrade your browser in order to comment.
blog comments powered by Disqus
 
You Might Also Like...