6.27.2006
Warren Buffett Gives Away His Billions
According to New York Times: Warren Buffett, the billionaire investor and executive, said today that he never seriously considered doing anything with his $44 billion fortune except giving it all away.
"I'm not an enthusiast for dynastic wealth, particularly when 6 billion others have much poorer hands than we do in life," Mr. Buffett said at the New York Public Library, where he was appearing with Bill and Melinda Gates, the only Americans richer than he is.
Mr. Buffett said on Sunday that he would give away 85 percent of his fortune — about $37.4 billion worth of stock in Berkshire Hathaway, the company he runs — to five charitable foundations, with the greatest share, about $31 billion, going to the Bill and Melinda Gates Foundation, which is dedicated to improving health and education, especially in poor nations
According to Wikipedia:
Despite his immense wealth, Buffett is famous for his unpretentious and frugal lifestyle. He continues to live in the same house in Omaha he bought in 1958 for $31,500, although he also owns a summer house in Laguna Beach, California. His annual salary from Berkshire Hathaway of $100,000 is nominal by the standards of senior executive remuneration in the United States.
This year's "Lunch with Warren Buffett" charity auction on eBay will end on June 29.[2]
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