Feeds

Buffett donates billions to Bill Gates' charity

Rich man gives cash to richer man

Bridging the IT gap between rising business demands and ageing tools

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. ®

Application security programs and practises

More from The Register

next story
Stick a 4K in them: Super high-res TVs are DONE
4,000 pixels is niche now... Don't say we didn't warn you
BBC goes offline in MASSIVE COCKUP: Stephen Fry partly muzzled
Auntie tight-lipped as major outage rolls on
iPad? More like iFAD: We reveal why Apple fell into IBM's arms
But never fear fanbois, you're still lapping up iPhones, Macs
Philip K Dick 'Nazi alternate reality' story to be made into TV series
Amazon Studios, Ridley Scott firm to produce The Man in the High Castle
Amazon Reveals One Weird Trick: A Loss On Almost $20bn In Sales
Investors really hate it: Share price plunge as growth SLOWS in key AWS division
Bose says today is F*** With Dre Day: Beats sued in patent battle
Music gear giant seeks some of that sweet, sweet Apple pie
There's NOTHING on TV in Europe – American video DOMINATES
Even France's mega subsidies don't stop US content onslaught
You! Pirate! Stop pirating, or we shall admonish you politely. Repeatedly, if necessary
And we shall go about telling people you smell. No, not really
Too many IT conferences to cover? MICROSOFT to the RESCUE!
Yet more word of cuts emerges from Redmond
prev story

Whitepapers

Designing a Defense for Mobile Applications
Learn about the various considerations for defending mobile applications - from the application architecture itself to the myriad testing technologies.
Implementing global e-invoicing with guaranteed legal certainty
Explaining the role local tax compliance plays in successful supply chain management and e-business and how leading global brands are addressing this.
Top 8 considerations to enable and simplify mobility
In this whitepaper learn how to successfully add mobile capabilities simply and cost effectively.
Seven Steps to Software Security
Seven practical steps you can begin to take today to secure your applications and prevent the damages a successful cyber-attack can cause.
Boost IT visibility and business value
How building a great service catalog relieves pressure points and demonstrates the value of IT service management.