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06-25-2006, 06:16 PM
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#1
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Join Date: May 2005
Location: Boston/Kansas City
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Billionare Buffett to begin giving fortune away to charities
Warren Buffett, left, will give much of his fortune to Bill Gates' charitable foundation the Microsoft co-founder runs with his wife. The Bill and Melinda Gates Foundation is already the world’s largest philanthropy with assets of about $29.1 billion.
OMAHA, Neb. - Billionaire investor Warren Buffett announced plans Sunday to give the bulk of his roughly $42 billion fortune to five foundations in annual gifts of stock starting next month.
The decision represents a stark reversal for the world’s second-richest man, who for years had said his wealth would be pledged to philanthropies after his death.
Moreover, his vast holdings of Berkshire Hathaway Inc. stock had been expected to go largely to the Susan Thompson Buffett Foundation, begun by his late wife. Her foundation has given millions of dollars to hospitals, universities and teachers, as well as to Planned Parenthood and other abortion rights groups.
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06-25-2006, 06:59 PM
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#2
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Join Date: Jun 2003
Location: Texas
Posts: 15,413
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hehe - he was not about to be outdone by his protege, Bill Gates 
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06-25-2006, 07:05 PM
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#3
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Regular User
Join Date: Jun 2003
Location: Toronto
Posts: 6,167
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Wow.......he is really desperate to go into heaven. Pros to him  .
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06-25-2006, 07:25 PM
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#4
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Join Date: May 2004
Location: Naples, FL
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now if only they give their money to my favorite charity, me. 
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06-25-2006, 07:32 PM
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#5
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Join Date: Jul 2003
Posts: 4,566
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Good to see Bill doin the right thing.. I'm getting curious to see which causes the money will go to.
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Originally Posted by evoWALO
now if only they give their money to my favorite charity, me. |
So you can buy more of Apple's garbage?
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06-25-2006, 07:47 PM
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#6
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Regular User
Join Date: Jun 2003
Location: Florida
Posts: 5,106
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42billion O MY GOD!
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Guess who's Back!
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06-25-2006, 08:10 PM
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#7
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Join Date: May 2004
Location: Naples, FL
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Originally Posted by dutchmasterflex
Good to see Bill doin the right thing.. I'm getting curious to see which causes the money will go to.
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Originally Posted by evoWALO
now if only they give their money to my favorite charity, me. |
So you can buy more of Apple's garbage? |
nah just buy the company.
There's a wiki on which charities and foundations Bill's money is going too. I must say I am impressed by their decisions. Giving to religious orgs are kept to the minimum. from what i can remember a rice research institute of note was given tens of millions of dollars in research grants.
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06-25-2006, 08:13 PM
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#8
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Regular User
Join Date: May 2005
Location: Boston/Kansas City
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Yeah were is Steve Jobs when it comes to charities? Though he is only worth around 3 Billion... He could still do his part! Its not like your poor with 3 bil!! 
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06-25-2006, 08:14 PM
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#9
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Location: Naples, FL
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Originally Posted by Global Hemisphere
Yeah were is Steve Jobs when it comes to charities?
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He only makes a $1 per year!
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06-25-2006, 08:15 PM
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#10
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Join Date: May 2005
Location: Boston/Kansas City
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Originally Posted by evoWALO
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Originally Posted by Global Hemisphere
Yeah were is Steve Jobs when it comes to charities?
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He only makes a $1 per year! |
Yeah I looked it up, Jobs has around 3 billion.
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06-25-2006, 08:19 PM
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#11
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Regular User
Join Date: May 2004
Location: Naples, FL
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Originally Posted by Global Hemisphere
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Originally Posted by evoWALO
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Originally Posted by Global Hemisphere
Yeah were is Steve Jobs when it comes to charities?
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He only makes a $1 per year! |
Yeah I looked it up, Jobs has around 3 billion. |
taht makes hims really old at $1/year. did aa bit of snooping and stevie did start a charitable foundation in the 80s and stopped due to it being so time consuming.
bill did the same thing by deciding to slowly pull out of ms as i guess charity is very time consuming task. what with the billions he has to responsibly spread.
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06-26-2006, 01:55 AM
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#12
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Regular User
Join Date: Jul 2003
Posts: 4,566
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Steve Jobs claims he only makes $1 a year to milk every penny out of Apple through it's stocks.
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did aa bit of snooping and stevie did start a charitable foundation in the 80s and stopped due to it being so time consuming.
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time consuming? what a nice load of bullshit..
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06-26-2006, 05:53 AM
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#13
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Regular User
Join Date: May 2004
Location: Naples, FL
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Originally Posted by dutchmasterflex
Steve Jobs claims he only makes $1 a year to milk every penny out of Apple through it's stocks.
time consuming? what a nice load of bullshit..
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bill is retiring cause charity is time consuming. what with all the begging these charity cases do. he has to do research whether the thing's a scam or not.
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06-26-2006, 04:13 PM
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#14
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Regular User
Join Date: May 2005
Location: Boston/Kansas City
Posts: 546
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What about Micheal Dell? He is worth 17.1 Billion. What are his philanthropies?
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06-26-2006, 04:55 PM
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#15
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Regular User
Join Date: Feb 2004
Location: Sacramento, CA
Posts: 2,148
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It's good to see when people with money, spend it on more than a Range Rover, 28" spinners. NBA players, Hollywood stars. I've read that in studies, the more people make, the more stingy they are with their money. It's the more "average" income people that donate more, in ratio to what they make per year, than the super wealthy, that seem to be more interested in increasing their wealth even more.
I was about to post this, but caught myself being doing a "Stan". Here's what I read:
http://www.msnbc.msn.com/id/13541144/?GT1=8211
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Still Reposting, Still Pimping
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