Warren Buffett donates $37 bn to charity

[theNOTO]

http://news.bbc.co.uk/2/hi/business/5115920.stm

I am simply amazed, both by the man and the act. He is a genius and also a simple man made his money for the right reasons. The Gates charity foundation will now have around $65 bn in assets. The United Nations has an annual budget of $12 bn, that is quite a stockpile of cash.

 

[Payton]

Together those two could probably do more good for the world than the UN

 

[rex_b]

Philanthropy<sp?> at it's best.

 

[Stanley]

The Gates foundation was already the largest foundation of its kind, this will make it even bigger.

 

[joe]

Together those two could probably do more good for the world than the UN

They already have.

 

[John]

Thats an incredible amount of money. I love how warren buffett said he won't give anything to his family or children, he wants them to make it on their own.

 

[Andrew]

Thats not true, he has given money to his family, just not at the level like Sam Walton did.

 

[theNOTO]

Thats not true, he has given money to his family, just not at the level like Sam Walton did.

Indeed he has/is giving to his family. From the article:

As well as donating to the Gates foundation, he also pledged shares for his three children and a substantial gift for a foundation named for his late wife, Susan Thompson Buffett.

 

[galacticsurfer]

The Gates foundation was already the largest foundation of its kind, this will make it even bigger.

Rite maite..

 

[John]

Thats not true, he has given money to his family, just not at the level like Sam Walton did.

My exwife was watching Oprah one day and his daughter was on, she said he would only pay for her education and that would be it, she had to make it on her own.

 

[MisterX]

I can't know what I'll be like when I become stinkin' rich, but his move sounds quite logical to me.

If I was old and near the end of my journey, I would have rather left the world with tens of thousands of poor children fed and educated, than with a multinational corporation...

 

[VinSVT]

Thats a shit ton of money.

 

[kyleirwin]

Yeah, I'll do that someday.

 

[JDA]

It's really smart, he saves on a ton of administrative costs that he would have faced by setting up his own foundation. By giving it to an existing foundation his money will be able to do a little more good.

Warren Buffet is a really fascinating guy.

 

[MisterX]

It's really smart, he saves on a ton of administrative costs that he would have faced by setting up his own foundation. By giving it to an existing foundation his money will be able to do a little more good.

Interesting thought. He could have actually had a huge "Warren Buffet Foundation" to carry his name & fame even further, but he chose to do more good instead. Noble, I'd say.