Buffet Gives to Gates

Warren Buffet, one of the wealthiest people in the world, has given 85% of his fortune to charity. This works out at around US$37.4 billion. The lion’s share will go to the Bill and Melinda Gates Foundation, a worthy recipient if ever there was one. I’m a fan of such organisations, as I’ve previously commented.

As a sidenote, a recent article in The Economist speaks about the rise in philanthropy, and the pitfalls therein. Fewer scandals and better governance might encourage more of the world’s rich to donate a large slice of their fortunes to worthy causes.