The value investing guru of our time, Warren Buffett, has announced that he would plan to donate 83 percent of his Berkshire Hathaway shares to several charity organisations, including the Bill and Melinda Gates Foundation. At the company's current market price, this translates to about $37.4 billion US dollars.This news may be related to the recent announcement by Bill Gates to fully move on to philantrophy by 2008, mentioned previously here.
Buffett's unmatched generous gesture is prompted by his wife Susan's death in 2004. He has also allocated 350,000 shares for each of his children, advising them to "focus the new funds and your energy on a relatively few activities" in which they could make a difference.
From today onwards, I think many of us, including myself, have a new respect for Buffett. This man has more than what anyone on Earth needs and now he is giving it back to society.
How much is enough for you? When will you be satisfied? How will you feel if you don't get it in the end?
<URL:http://quote.bloomberg.com/apps/news?pid=10000006&sid=aimfM9VqxrOw&refer=home>
<URL:http://www.washingtonpost.com/wp-dyn/content/article/2006/06/25/AR2006062500801.html>
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