Wealth the Benefits of Being Wealthy Are Term Paper

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Wealth

The benefits of being wealthy are numerous and varied. Perhaps the most obvious is the ability to live a comfortable lifestyle and enjoy indulgences that only someone with money can enjoy, such as exotic vacations, spending sprees at the mall, and grown-up toys such as luxury cars and boats. However there is perhaps a responsibility involved with wealth.

Most truly wealthy people are major contributors, donors, and sponsors of various charitable foundations, many of which would not exist if it were not for the considerable donations of the wealthy. And many wealthy individuals actually create their own foundations. In 1999 Bill Gates, for example, merged several of his existing foundations that bore his name into one, the Bill and Melinda Gates Foundation, a philanthropy that was estimated in 2003 to be worth some $32 billion (Gates Pp). The foundation provides grants for projects relating to global health care, education and libraries, and the Pacific Northwest (Gates Pp).

Actor Paul Newman is by no means in the same wealth category as Bill Gates, however, he is wealthy by all standards.

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He has also proven to be very creative in the charitable arena. Newman founded his own salad dressing company, called Newman's Own, that now includes several products such as popcorn and sauces. When the products became successful, Newman decided to turn the profits into something worthwhile. The company funds several camps throughout the country called Hole in the Wall Gang. The camps are designed to provide camp activities for chronically ill children who would otherwise never experience camp life.

Perhaps the major negative to wealth is public notoriety, such as in the….....

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