Buffet Donates $42 Billion to Bill Gates' Charity Edit

In a selfless gesture that is symbolic to Warren Buffet’s classic personality, he has donated the bulk of his fortune to another Billionaire’s charity.  With $42 Billion, it’s easy to start your own charity (and make it the largest in the world).  However, Warren took the selfless route of donating his fortune to a place where his funds would be put to best use.  Very cool. 

From MoneyControl:
Two of the world’s richest men are shifting their focus to charity from business. The 75-year old CEO of Berkshire Hathway, Warren Buffett will donate nearly USD 31 billion, that’s 80% of his fortune to the Bill and Melinda Gates Foundation, reports CNBC-TV18.

The Bill and Melinda Gates Foundation specialises in finding cures for diseases that plague the third world. Buffett’s first annual donation is expected to be about USD 1.5 billion. Buffet wants his donation to improve the efficiency of services provided by the Gates Foundation.

Buffett says, “I’ve watched the Gates Foundation for a number of years and I think in their field, I would be amazed if the results diminished the proportion to capital. I wouldn’t be surprised if actually they became more efficient, more effective per dollar spent, in doubling the funds.”