(June 26, 2006) Warren #Buffett, billionaire investor and founder of Berkshire Hathaway, has announced he is donating much of his fortune to charity. Over time, most of Buffett’s $44 billion in stock holdings will be given to the Bill and Melinda Gates Foundation.
In the form of Berkshire Hathaway shares, Buffett signed papers that give $31 billion of his fortune to fund the Gates Foundation’s work in fighting infectious diseases and reforming education.
Besides the major gift to the Gates Foundation, Buffett is dividing $6 billion among four other charities started by his family members. Those foundations support environmental causes, abortion rights, helping low-income children and human rights.
At a lively, jocular event at the New York Public Library, Buffett signed the letters that pledge $37 billion in stock to five different foundations, and he reassured the crowd that he had checked the names of the beneficiaries.