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37 Billion Dollars

Ditto Much

TRIBE Member
Buffett donates $37bn to charity

Billionaire investor Warren Buffett is to donate about $37bn (£20bn) - most of his vast personal fortune - to Bill Gates' charitable foundation.

Mr Buffett will hand 10 million shares in his Berkshire Hathaway firm to the Bill and Melinda Gates Foundation.

In a statement, Mr and Mrs Gates said they were "awed" by the donation, thought to be the largest charitable gift ever made in the United States.

The foundation aims to fight disease and promote education around the world.

News of the donation comes shortly after Mr Gates announced he is to step away from his day-to-day role at software giant Microsoft.

By July 2008 Mr Gates, the world's richest businessman, will concentrate on the foundation, which is currently worth just under $30bn.

BBC business editor Robert Peston said the size of the foundation's cash pile dwarfed that of other organisations, and compared it with the $12bn annual budget of the United Nations.

He added that the foundation was "an extraordinary new force in the voluntary sector".

New will

Warren Buffett, known as "the sage of Omaha" for his relentless success in investments, is worth an estimated $44bn, according to Forbes magazine.



As well as donating to the Gates foundation, he also pledged shares for his three children and a substantial gift for a foundation named for his late wife, Susan Thompson Buffett.

All the gifts will be awarded yearly, with 5% of each donation passed on each year, it was announced.

He confirmed his decision in letters to the recipients, and said he would write a new will to ensure the money continues to be distributed after his death.

"We are awed by our friend Warren Buffett's decision to use his fortune to address the world's most challenging inequities, and we are humbled that he has chosen to direct a large portion of it to the Bill and Melinda Gates Foundation," the couple's statement said.

In making his award, Mr Buffett - who plays bridge with Mr Gates - said he chose to distribute his wealth to an existing foundation out of respect for its current work.

"Who wouldn't select Tiger Woods to take his place in a high-stakes golf game? That's how I feel about this decision with my money," he told Fortune magazine.

"I don't think I'm as well cut out to be a philanthropist as Bill and Melinda are," he added.

One of the terms of the donation is that at least one of Bill or Melinda Gates continues to be involved with the foundation.

The foundation has evolved into one of the leading philanthropical organisations in the world, listing as one of its primary goals "reducing the 'unconscionable disparity' that exists between the way that we live and the way that the people of the developing world live".

Simple life

Stacy Palmer, editor of the Chronicle of Philanthropy, said that Mr Buffett's donation was the largest made by one person in the US.



She explained that Mr Buffett's largesse eclipses the charitable donations of such well-known givers as John D Rockefeller and Andrew Carnegie.

Despite his huge wealth, Mr Buffett has modest tastes, is called a "cola and hamburger kind of guy", plays the ukulele, and still lives in the same house he bought in his home town of Omaha, Nebraska, in 1957.

During his interview, Mr Buffett explained that the death of his wife Susan was one of the reasons behind his donation to the Gates Foundation, because he had thought she would outlive him and handle the dispersal of his wealth.
Story from BBC NEWS:
http://news.bbc.co.uk/go/pr/fr/-/2/hi/business/5115920.stm



--------

37 big 'B' Billion dollars


Hey Warren spot my a hundred grand?
 
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Boss Hog

TRIBE Member
Vote Quimby said:
Well someones got to make that stuff. They might as well be healthy while they do it.
Healthy hands = awesomer profit margins!

(Anyway, good for Buffet. Philanthropy is always admirable at any scale.)
 

junglisthead

TRIBE Member
he, like many know that when the new age comes forth, money will be worthless

the stockmarket is going to crash, what we see as a society will cease to exist

therefore, he is simply preparing, before it strikes upon us
 
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Rude1_247

TRIBE Member
junglisthead said:
he, like many know that when the new age comes forth, money will be worthless

the stockmarket is going to crash, what we see as a society will cease to exist

therefore, he is simply preparing, before it strikes upon us
thafuk?
 

Vincent Vega

TRIBE Member
junglisthead said:
he, like many know that when the new age comes forth, money will be worthless

the stockmarket is going to crash, what we see as a society will cease to exist

therefore, he is simply preparing, before it strikes upon us
Don't you have a kid on the way?
 
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junglisthead

TRIBE Member
my kid, like many of thousands displaced around the world are the new breed of humans, these hybrids will be able to bring humanity to the next level

they will of course, survive the great tragedy, which is upon us very shortly
 

Adam

TRIBE Member
Totally, because by using the electric motor for in-the-city walking, your kid can save a lot of money on fuel.
 

kuba

TRIBE Member
ha ha rude 1! i've never tried acid BUT I FEEL LIKE I'M ON IT WHEN READING THAT NONSENSE

"great tragedy"
 
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Klubmasta Will

TRIBE Member
Ditto Much said:
In a statement, Mr and Mrs Gates said they were "awed" by the donation, thought to be the largest charitable gift ever made in the United States.

...

Stacy Palmer, editor of the Chronicle of Philanthropy, said that Mr Buffett's donation was the largest made by one person in the US.
so what's the largest donation made by one person outside the U.S.?
 

Klubmasta Will

TRIBE Member
junglisthead said:
he, like many know that when the new age comes forth, money will be worthless

the stockmarket is going to crash, what we see as a society will cease to exist
this is true, actually. at least according to captain picard.
 

Ditto Much

TRIBE Member
^^^
yes however it violates every rule of acquisition


# Once you have their money ... never give it back.
# Never pay more for an acquisition than you have to.
# Never allow family to stand in the way of opportunity.
# Keep your ears open.
# Small print leads to large risk.
# Opportunity plus instinct equals profit.
# Greed is eternal.
# Anything worth doing is worth doing for money.
# A deal is a deal ... until a better one comes along.
# A contract is a contract is a contract (but only between Ferengi).
# A Ferengi without profit is no Ferengi at all.
# Satisfaction is not guaranteed.
# Never place friendship above profit.
# A wise man can hear profit in the wind.
# There's nothing more dangerous than an honest businessman.
# Never make fun of a Ferengi's mother ... insult something he cares about instead.
# It never hurts to suck up to the boss.
# Peace is good for business.
# War is good for business.
# She can touch your lobes but never your latinum.
# Profit is its own reward.
# Never confuse wisdom with luck.
# Don't trust a man wearing a better suit than your own.
# The bigger the smile, the sharper the knife.
# Never ask when you can take.
# Good customers are as rare as latinum -- treasure them.
# There is no substitute for success.
# Free advice is seldom cheap.
# Keep your lies consistent.
# The riskier the road, the greater the profit.
# Win or lose, there's always Hyperian beetle snuff.
# Home is where the heart is ... but the stars are made of latinum.
# Every once in a while, declare peace. It confuses the hell out of your enemies.
# Beware of the Vulcan greed for knowledge.
# The flimsier the product, the higher the price.
# Never let the competition know what you're thinking.
# Ask not what your profits can do for you, but what you can do for your profits.
# Females and finances don't mix.
# Enough ... is never enough.
# Trust is the biggest liability of all.
# Nature decays, but latinum lasts forever.
# Faith moves mountains ... of inventory.
# There is no honour in poverty.
# Dignity and an empty sack is worth the sack.
# Treat people in your debt like family ... exploit them.
# Never have sex with the boss's sister.
# Always have sex with the boss.
# You can't free a fish from water.
# Everything is for sale, even friendship.
# Even a blind man can recognize the glow of latinum.
# Wives serve, brothers inherit.
# Only fools pay retail.
# There's nothing wrong with charity ... as long as it winds up in your pocket.
# Even in the worst of times someone turns a profit.
# Know your enemies ... but do business with them always.
# Not even dishonesty can tarnish the shine of profit.
# Let others keep their reputation. You keep their money.
# Never cheat a Klingon ... unless you're sure you can get away with it.
# It's always good business to know about new customers before they walk in the door.
# The justification for profit is profit.
# New customers are like razortoothed grubworms. They can be succulent, but sometimes they can bite back.
# Employees are rungs on the ladder of success. Don't hesitate to step on them.
# Never begin a negotiation on an empty stomach.
# Always know what you're buying.
# Beware the man who doesn't make time for oo-mox.
# Latinum lasts longer than lust.
# You can't buy fate.
# Never be afraid to mislabel a product.
# More is good ... all is better.
# A wife is a luxury ... a smart accountant is a necessity.
# A wealthy man can afford anything except a conscience.
# Never allow doubt to tarnish your love of latinum.
# When in doubt, lie.
# Deep down everyone's a Ferengi.
# No good deed ever goes unpunished.
 
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