Who wants to be a billionaire
Charity : US billionaire wants to donate most of his wealth
New York - The lion's share should go to the foundation of his close friend Gates and his wife Melinda. With his donation, the 75-year-old investor is implementing a long-term plan that he and his wife Susan, who died two years ago after a stroke, had in mind. When asked about his health, Buffett told Fortune magazine that he felt "fantastic" and would stay in the financial business for a long time.
In July, the month his wife died, Buffett wants to put his plan into practice. In the first year he wants to donate 1.5 billion dollars, in the following years the amounts should then increase regularly. The "Oracle of Omaha", as Buffetts is also called because of its good smell for worthwhile investments, had already announced in the past that it would not bequeath its money to its children, but rather donate it. The fact that he wanted to forego a large part of his fortune, estimated at around 44 billion dollars, during his lifetime is a sensation. "I know what I'm doing and I think there is a point doing it now," Buffett said in the "Fortune" interview in which he dropped the bomb.
Instead of setting up his own foundation under his name, Buffett relies primarily on the Bill and Melinda Gates Foundation, which operates worldwide. With a budget of almost 30 billion dollars, it is already the largest private international donor of charitable projects. In addition to the fight against AIDS and other diseases such as tuberculosis and malaria, she also devotes herself to programs for the education of young people from poor regions of the USA.
Buffet: Own foundation unnecessary
Buffett said in the interview that he would rather put his money into an organization that is already functioning well, whose goals he approves, instead of copying their work with his own foundation. He admired the work of Bill and Melinda Gates and hoped that other wealthy donors would follow suit. In initial reactions, Bill and Melinda Gates were impressed by Buffett's move. The full extent of his generosity would only be revealed in decades; but with his help "we have a tremendous opportunity to have a positive impact on people's lives around the world".
With the spectacular donation, Buffett is crowning an unusual career. The son of a broker and congressman had made his first stock trade at the age of eleven. He founded his own investment company, which he expanded over the years into a gigantic industrial conglomerate. Today his company Berkshire Hathaway holds shares in Coca Cola and American Express, among others, and has numerous subsidiaries. Tens of thousands of shareholders attend its annual balance sheet meeting in Buffett's hometown of Omaha. (tso / AFP)
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