Skip to comments.Warren Buffett to give bulk of his wealth to Gates Foundation
Posted on 06/25/2006 1:14:44 PM PDT by HAL9000
SEATTLE - Warren Buffett, the world's second richest man, is starting this year to give much of his wealth to charity, with the bulk of over $40 million in Berkshire Hathaway stock going to the Bill and Melinda Gates Foundation.
In a letter dated Monday, Buffett, who is chairman of Berkshire Hathaway Inc., tells Bill and Melinda Gates that the first annual donation would go to the foundation this year. It's expected to total about $1.5 billion.
Up until now, all the money given away by the Gates Foundation has come from Bill and Melinda Gates.
The money from Buffett comes with a signficant catch. The letter says Buffett wants all his money to be distributed in the year it is donated, not added to the foundation's assets for future giving. He is giving the foundation a few years to get used to the idea of giving away a lot more money.
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(Excerpt) Read more at king5.com ...
Buffett has spent a lot of his money promoting abortion, a cause Gates also favors. Wonder if that's where the money will go. I'm sure George Soros would be willing to chip in if need be.
Well, it is his money and he deals with it as he sees fit. The nice touch is that he piggybacks on an existing foundation instead of the hassle of setting his own.
And the Gates Foundation will invest it in Berkshire Hathaway.
Confused. Giving 1.6 bil this year? Then maybe that 40 million should be 40 Billion?
Mr. Buffet is the Mr. Universe of business, the Oracle of Omaha, the Wizard of Wall Street. Hes the worlds second richest man ($35 billion), chairman and controlling shareholder of Berkshire Hathaway, a holding company comprised of some 60 corporations (2002 revenues over $42 billion). Clearly, Mr. Buffet knows business.
Mr. Buffet is also a major donor to abortion and population control causes. Recent grants include: $4.7 million to International Projects Assistance Services, a company that makes portable suction abortion devices and supplies them, along with clinics and training, in 11 countries; $3.5 million to the Population Council, the outfit that brought RU-486 to the U.S.; $2.1 million to Planned Parenthood Federation of America and 11 local chapters; $1.5 million to the National Abortion Rights Action League (now renamed NARAL Pro-Choice America); and lesser sums to the Center for Reproductive Rights (the legal group that helped strike down state bans on partial-birth abortion) and the non-Catholic organization calling itself Catholics for a Free Choice.
Biographer Roger Lowenstein attributes Mr. Buffets interest in population control to a Malthusian dread that overpopulation would aggravate problems in all other areas such as housing, food, even human survival. Human survival? Food, vaccines, clean water, education contribute to human survival. The groups he funds arent concerned with human survival. Their services are designed to kill off members of the next generation.
Worse, his generous funding of the abortion industry may escalate a thousand-fold after his death, when his shares in Berkshire (the bulk of his net worth) pass to the Buffet Foundation, increasing its assets from about $25 million to $25 billion or more. Can anything be done to change Mr. Buffets penchant for funding anti-family, anti-life groups?
Recently, to mollify the sales staff (primarily homemakers) of The Pampered Chef (TPC) which Berkshire acquired last year, and to protect TPCs earnings, Berkshire ended its corporate contributions program, under which pre-tax earnings were donated to charities (like the Buffet Foundation) designated by shareholders in proportion to their holdings. One journalist suggested Mr. Buffet reached this decision by following a precept in his Owners Manual for Berkshire shareholders: We feel noble intentions should be checked periodically against results.
If Mr. Buffet were to follow in earnest this excellent advice, hed see the dire results of the population control measures hes funding. Far from validating the overpopulation myth, results show a real and far greater danger to human survival worldwide population decline and a demographic inversion, with proportionately more elderly people than young people entering the labor force. That means too few workers to support national economies and social programs for the elderly and needy. The U.N. Population Division forecasts continued population declines in developed countries, with 33 countries having fewer people in 2050 than today: 14% fewer people in Japan; 22% fewer in Italy; 30-50% fewer in former Soviet satellites. The percentage of the population over 60 in developed regions will grow to 32% in 2050, from 19% today. Already there are more elderly than children aged 0-14.
Even in less developed regions, total fertility has fallen from 6 to 3 children per woman. By 2050, fertility will decline to replacement level and may continue falling.
Abortion has failed women and caused untold suffering to them and their families. But unless Mr. Buffet and others like him stop funding abortion and population control, worse is yet to come. Mrs. Wills is associate director for education, U.S. Conference of Catholic Bishops Secretariat for Pro-Life Activities.
If I were a billionaire, I would target my money at something beneficial to mankind that private industry could not do or would have a hard time doing, such as colonization of the moon or Mars for instance.
No kidding.....these three billionaires border on evil with their Zero Population Growth stance and abortion stance.
I've always wondered why so many of the super-rich are abortion enthusiasts. Do they really see other human life-forms as landfill?
Buffet is a huge pathelogical supporter of abortion, and while Bill Gates is in favor of abortion, he is at best, indifferent to it as an issue.
Look for him to spend the money on either education causes or something to do with aids.
This money would actually be better off if it was either as a venture capital fund or used for micro financing.
"What a waste. The Gates' foundation is a PC (no double entendre intended) AIDS-centric pile of dung. It has to be infested with liberals. Other than throwing cash at AIDS, Billy boy likes to give away Windows licenses. How freakin' generous! Africa's problems are caused by promiscuity, communism, radical Islam, dictators and American leftists.
If I were a billionaire, I would target my money at something beneficial to mankind that private industry could not do or would have a hard time doing, such as colonization of the moon or Mars for instance."
The Gates Foundation provides 1 billion dollars in college scholarships that caucasian students are not allowed to apply for: The Gates Milennium Scholarships are for minority group members only.
I dont suppose any of this money or Gates money ever makes it to our military heroes in need?
This money would have been better served helping people in either a venture capital fund or used as capital for micro-financing.
They have enough money to pay the litany of attorneys it takes to set up Foundations for their pet causes.....and then hire their friends and family (Gates, at least)....
Yes, it's obvious. I know a fair number of very rich people, and they all have some involvement in planned parenthood.
They square it with their consciences by talking about the rights of women, every child a wanted child, and so forth. But I suspect that the real reason is that they resent all those peasants and rednecks cluttering up the earth. I don't know if they ever really admit it to themselves, but it is certainly there at some deep level of their beings.
If you read the story of the founding of this movement--I'm afraid I forget the exact details, but I remember the essay pretty clearly--it all came together when one of these socially superior liberal schmucks was in Calcutta, and suddenly was frightened to death by the presence of all those POOR PEOPLE crowding around him and threatening to overwhelm him with their sheer numbers.
There's an obvious connection with social Darwinism and Nazi eugenics, movements with which Margaret Sanger was involved at times. Too many undesirable people, inferior races, idiots, and the like cluttering up the earth, using up resources, exhaling greenhouse gasses, and crowding the really superior people who eagerly fund Planned Parenthood.
Its funny to me that no matter how rich or powerful
someone is, the second they die they will be
completely broke and will face God just like a poor man.
"Yo, check it out! Gates just threw us another $10 mill to fight AIDS! Yeah! Yeah, let`s buy more guns and tanks to fight that AIDS! Bwa ha ha ha! YEAH! We gonna rule!"
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