Feeds

Buffett donates billions to Bill Gates' charity

Rich man gives cash to richer man

Intelligent flash storage arrays

Warren Buffett, the world's second richest man, has pledged $30.7bn of his $44bn fortune to the Bill and Melinda Gates Foundation. The billionaire investor will donate the money in stages, he said, in the form of shares in his company Berkshire Hathaway Inc.

This year the Gates' Foundation will receive half a million shares worth around $1.5bn. In total, Buffett has pledged 10m shares to the foundation, which will get a further five per cent of the total, each year, for as long as either Bill or Melinda Gates remains involved with the charity.

According to the Chronicle of Philanthropy, it is the largest charitable donation ever made.

Buffett, who plays Bridge with Gates, said he had chosen to donate the money to Gates' foundation because he isn't as suited to philanthropy as the Microsoft founder.

He told Fortune magazine that he decided to divide up his fortune following the death of his wife in 2004. He had expected she would outlive him, he explained, and that she would see to disposing of his wealth. He has earmarked a further $6.3bn of stock for Buffett family foundations.

The Gates' are said to be "awed" by the donation. ®

Internet Security Threat Report 2014

More from The Register

next story
Bladerunner sequel might actually be good. Harrison Ford is in it
Go ahead, you're all clear, kid... Sorry, wrong film
Musicians sue UK.gov over 'zero pay' copyright fix
Everyone else in Europe compensates us - why can't you?
Euro Parliament VOTES to BREAK UP GOOGLE. Er, OK then
It CANNA do it, captain.They DON'T have the POWER!
I'll be back (and forward): Hollywood's time travel tribulations
Quick, call the Time Cops to sort out this paradox!
Megaupload overlord Kim Dotcom: The US HAS RADICALISED ME!
Now my lawyers have bailed 'cos I'm 'OFFICIALLY' BROKE
Forget Hillary, HP's ex CARLY FIORINA 'wants to be next US Prez'
Former CEO has political ambitions again, according to Washington DC sources
prev story

Whitepapers

10 ways wire data helps conquer IT complexity
IT teams can automatically detect problems across the IT environment, spot data theft, select unique pieces of transaction payloads to send to a data source, and more.
Getting started with customer-focused identity management
Learn why identity is a fundamental requirement to digital growth, and how without it there is no way to identify and engage customers in a meaningful way.
How to determine if cloud backup is right for your servers
Two key factors, technical feasibility and TCO economics, that backup and IT operations managers should consider when assessing cloud backup.
Reg Reader Research: SaaS based Email and Office Productivity Tools
Read this Reg reader report which provides advice and guidance for SMBs towards the use of SaaS based email and Office productivity tools.
Beginner's guide to SSL certificates
De-mystify the technology involved and give you the information you need to make the best decision when considering your online security options.