Ted 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 Fonda,...
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