Buffett pledges $30 billion to Gates foundation
Seattle PI | at | by Mike
With Warren Buffett's announcement Sunday that he would be starting to make an annual donation of about $1.5 billion to the Bill and Melinda Gates Foundation, the world's largest foundation has a new challenge: how to distribute twice as much money each year.
In a letter dated Monday, Buffett told Bill and Melinda Gates that the first donation of Berkshire Hathaway Inc. stock would go to the foundation, which has assets of $29.1 billion, next month.
Bill and Melinda Gates said they were "awed" by Buffett's decision. "And we are humbled that he has chosen to direct a large portion of it to the Bill & Melinda Gates Foundation," they said.