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| Monday, June 26, 2006 |
| Warren Buffet: Bravo |
Warren Buffet is giving away $37 billion of his $44 billion fortune, and $31 of the $37 is going to the Bill & Melinda Gates Foundation, which works to improve health and education in poor countries.
I can't explain properly how incredibly impressed I am with this move.
Most people with that much money would want to start their own foundation, with their own name on the door, to ensure that they get credit in perpetuity, including after death, for anything the money does.
The work done with Buffet's money, on the other hand, will now mostly be credited to Bill Gates, since it's his name on the foundation.
To me this is an incredible, ego-less, contribution to the well-being of the world, and Buffet should be thanked for it (yes, I see the irony). The Gates Foundation is doing vital work on a huge scale. There is no better use of the money. None. |
posted by CB @ 9:08 AM   |
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| 1 Comments: |
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I watched the news conference. Buffett said that this contribution, once completed, effectively gives 35% of Berkshire's profits to charity. That is capitalism at its best.
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I watched the news conference. Buffett said that this contribution, once completed, effectively gives 35% of Berkshire's profits to charity. That is capitalism at its best.