This past week, Fortune magazine ran a story on Warren Buffet’s recent decision to give away 85% of his net worth. The vast majority (83%) of this donation will be given to the Bill and Melinda Gates foundation to assist with their continuing work fighting HIV/AIDS, malaria and tuberculosis worldwide.
The donation itself is tied to shares in Berkshire Hathaway, Buffets main umbrella corporation for everything from Dairy Queen to Fruit of the Loom. Every year the charitable organization will receive a portion of shares in BH. The contribution for 2006 amounts to more than $1.5 Billion USD.
This story is proof in and of itself that absolute power need not corrupt absolutely. Between Gates and Buffett, the Gates’ foundation has been pledged more than $60 Billion USD over the coming years. Its just too bad that stories like this one don’t get a bit more press.
http://www.gatesfoundation.org/AboutUs/Announcements/Announce-060625.htm
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