Posted on 06/25/2006 7:02:29 PM PDT by AmericanDave
By Robert MacMillan
NEW YORK (Reuters) - Billionaire investor Warren Buffett is donating a total of $37 billion -- most of his personal fortune -- to a foundation started by Microsoft Chairman Bill Gates and to several family foundations, making it the largest-ever individual charitable gift in the United States.
Buffett, 75, is the chief executive of investment firm Berkshire Hathaway. He is worth an estimated $44 billion, according to Forbes magazine, making him the second-richest man behind Gates, who is worth about $50 billion.
The $37 billion comprises about 85 percent of Buffett's fortune.
In a letter to the Bill and Melinda Gates Foundation, Buffett, 75, said he will set aside 10 million shares of Berkshire class B common stock for the foundation.
(Excerpt) Read more at today.reuters.com ...
Hope they keep better control of all this money than the Ford Foundation did; imagine liberals getting control of spending all this, could be worse than Soros!
I guess the bridge partnership was a bonding experience (I am a bridge player, at one time a quite serious one). I admire both gentlemen greatly.
'$37 billion comprises about 85 percent of Buffett's fortune'
Glad he left himself with pocket change.
Are you kidding? They are liberals! Gates Foundation is a huge supporter of Planned Parenthood as is Buffett.
Keyword search is your friend.
Articles indexed to buffett (in order of time indexed.)
Warren Buffett gives away his fortune ^
Posted by Lunatic Fringe
On News/Activism ^ 06/25/2006 1:12:41 PM MDT · 82 replies · 1,876+ views
money.cnn.com ^
NEW YORK (FORTUNE Magazine) - We were sitting in a Manhattan living room on a spring afternoon, and Warren Buffett had a Cherry Coke in his hand as usual. But this unremarkable scene was about to take a surprising turn. "Brace yourself," Buffett warned with a grin. He then described a momentous change in his thinking. Within months, he said, he would begin to give away his Berkshire Hathaway fortune, then and now worth well over $40 billion.
Dang it.....when I have just $2.37 in my checking account.
Charitable Foundations unfortunately have in many cases become nothing but a way to continue political power free from the IRS. The Lefts super rich capitalist aristocrats who preach socialism at the middle class's expense have been disingenuously using using these "foundations" as part of their political power for quite some time. After all who could criticize such charity...right?
Bump
Bump
Well Billy boy already managed to destroy the Internet with his Windblows OS.
Now perhaps he can finish the job by giving away all the money the millions of IDIOTS payed him for his Windblows crap OS.
Justice!
The ability to create charitable foundations to push political goals is why liberals such as Buffett and Gates say we don't need to change the inheritance (death) taxes.
Middle class American farmers and business owners have their family money gutted by death taxes while the super rich shelter their money in foundations and tax dodges. By the way, these foundations employ kin of the super rich to make sure their kids never have to look for other work.
Middle class?
From what I've read, the 2006 estate tax exemption is $2 million. And estates are not taxed if they pass to a spouse who is an American citizen.
I think maybe you're stretching the definition of "middle class" a bit, particularly in light of the sad state of Americans' savings, where the average middle class American has an alarmingly small amount of assets.
I was quoting the previous poster. Address your comment to him.
Good for him, I hope it does some good. Is there something wrong with him or is he feeling guilty? If I did that I would give alot of the money to our military and their families.
Which poster? I didn't see anyone else make this claim.
An I'm surprised he din't set up a CA foundation to rid us of the awful Prop 13 that he tried to get Arnold to dump the minute Arnold finished hijacking the Recall from CA's grassroots conservatives and real Republicans!!!
These folks never think of dropping some change to reduce the debt, right?
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