Word: turner
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Dates: during 1990-1999
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...Turner was on a plane headed for New York City to address a U.N. Association dinner last week when he decided to give away $1 billion. Looking over statements prepared by his financial advisers, he noticed that his net worth had shot up from $2.2 billion to $3.2 billion between the beginning of the year and Aug. 31, largely on the strength of a 50% rise in Time Warner stock. "Hey, not bad," Turner recalls thinking at the time. "Why not go for the billion? Let's go for the big one." After bouncing the idea off his wife, Jane...
While others have given more over the course of their lives, Turner's is the largest donation ever made to a single organization. Turner, founder of CNN and vice chairman of Time Warner, says he did not realize its rank at the time he chose the billion-dollar figure. He prefers to focus on how important it is for wealthy people to share their bounty when "the world is just awash in money" because of rising stock markets. And Turner says he hopes his gift will encourage others to support the U.N. and the programs it operates worldwide, which range...
...smashes and the odd tourist-bus explosion seemed to give everyone the collywobbles. There was William Cohen grounding every military training plane in sight (just in case), Congressional committees trying to keep our boys off the Mir (in case any more satellites decided to fly into it) ? and Ted Turner pumping Kofi Annan with a billion-dollar handshake (in case the U.N. should collapse for want of Time-Warner shares). Even the Pentagon got jittery when the Oslo accord tried to prise a pile of landmines from its stiff little fingers: We're the world's policemen, sulked...
...YORK: It's the gift that keeps on giving: Ted Turner is not just donating $1 billion to the United Nations, he's planning to solicit more huge charitable contributions from his moneyed peers. The CNN founder and vice chairman of Time Warner (which owns TIME) brought tears to the eyes of wife Jane Fonda when he announced the gargantuan gift ? which he will make in 10 annual payments of $100 million in Time Warner stock ? to support programs such as UNICEF, peace-keeping missions and a land-mine cleanup...
...amount is based on Turner's personal profits on Time Warner stock since the corporation merged with CNN parent Turner Broadcasting last year. "I figure its only nine months' earnings, who cares?" Turner said. He also promised to prod similar donations from other billionaires, warning that they should expect his fund-raising calls...