Tuesday, February 19, 2008

A new queenly title

Earlier we commented that despite the bad press over Leona Helmsley's will, with the $12 million trust for her dog, Trouble, the terms of the will were likely to be upheld because of a charitable residuary worth $1 billion. We stand corrected, the charitable residuary is at least $4 billion, and might be as much as twice that as assets are liquidated. In fact, according to Slate's list of the top 60 donors for 2007 Leona was not only the most significant U.S. philanthropist in 2007, she gave as much as the next 8 charitable donors combined! Perhaps the nasty name, "The Queen of Mean," can be expunged from Leona's biography now.

(Slate's methodology does not count fulfillment of previously announced pledges, so neither Bill Gates nor Warren Buffett appear on their 2007 list.)

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