Sunday, June 25, 2006

Charity

Some amazing news. Fortune Magazine:
"I know what I want to do," he said, "and it makes sense to get going." On that spring day his plan was uncertain in some of its details; today it is essentially complete. And it is typical Buffett: rational, original, breaking the mold of how extremely rich people donate money.

Buffett has pledged to gradually give 85% of his Berkshire stock to five foundations. A dominant five-sixths of the shares will go to the world's largest philanthropic organization, the $30 billion Bill & Melinda Gates Foundation, whose principals are close friends of Buffett's (a connection that began in 1991, when a mutual friend introduced Buffett and Bill Gates).

The Gateses credit Buffett, says Bill, with having "inspired" their thinking about giving money back to society. Their foundation's activities, internationally famous, are focused on world health -- fighting such diseases as malaria, HIV/AIDS, and tuberculosis -- and on improving U.S. libraries and high schools.

3 Comments:

Blogger Dr Victorino de la Vega said...

It’s reassuring to see US billionaires of lower-middle class extraction such as Gates and Buffett step in and help the needy in America and the third world while Bush’s Pharisaic-friendly cum pro-Wahhabi government is busy enriching Israeli tycoons and Saudi oilmen...

3:58 AM  
Blogger copy editor said...

I am happy that these gents help. Bush has spent a great deal on Africa. Bono is impressed, good enough for me. There needs to be a great deal more, of course.

And the blood and treasure mess in the Near East, well..

10:45 AM  
Anonymous Mark-O said...

bono isn't american- and he's barely a musician.

3:36 PM  

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