Warren Buffett giving away 85% of his billions
Via CNN Money:
FORTUNE EXCLUSIVE: The world’s second richest man – who’s now worth $44 billion – tells editor-at-large Carol Loomis he will start giving away 85% of his wealth in July – most of it to the Bill & Melinda Gates Foundation.
Because the value of Buffett’s gifts are tied to a future, unknowable price of Berkshire, there is no way to put a total dollar value on them. But the number of shares earmarked to be given have a huge value today: $37 billion.
That alone would be the largest philanthropic gift in history. And if Buffett is right in thinking that Berkshire’s price will trend upward, the eventual amount given could far exceed that figure.