From Fortune Magazine:
[Warren] Buffett has pledged to gradually give 85% of his Berkshire stock to five foundations. A dominant five-sixths of the shares will go to the world’s largest philanthropic organization, the $30 billion Bill & Melinda Gates Foundation, whose principals are close friends of Buffett’s (a connection that began in 1991, when a mutual friend introduced Buffett and Bill Gates).
At the current Berkshire stock value, Buffet, 75, plans to give away $37 billion, the largest philanthropic gift ever. In reality it may prove to be even more, as he is planning to give 5% of his current holdings each year — the total cash value of his holdings could well appreciate more than that annually.
I really enjoy reading stories like this, so thanks for posting. No one could ever go through all that money (even when providing for their descendants) so it’s nice to see them giving it away to good causes. Buffett and Gates are the modern-day versions of Carnegie and Rockefeller.