Nicknamed the "Oracle of Omaha" for his uncanny ability as an investor, Warren Buffett became the world's second-richest man by putting money in undervalued companies with growth potential.
In June, he offered to put money in another area: Buffet bequeathed $31 billion in Berkshire Hathaway Inc. common stock to the Bill and Melinda Gates Foundation to fight infectious diseases in the developing world and bolster American education.
Effectively doubling the giving power of the world's largest charitable foundation, Buffett laid plans to give away the bulk of his estimated $44 billion fortune to the Gates foundation along with charities run by his children. The move puts the wealth of the two richest men in the world together to address global health and poverty issues in what observers said could herald a new age of philanthropy.
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In June, he offered to put money in another area: Buffet bequeathed $31 billion in Berkshire Hathaway Inc. common stock to the Bill and Melinda Gates Foundation to fight infectious diseases in the developing world and bolster American education.
Effectively doubling the giving power of the world's largest charitable foundation, Buffett laid plans to give away the bulk of his estimated $44 billion fortune to the Gates foundation along with charities run by his children. The move puts the wealth of the two richest men in the world together to address global health and poverty issues in what observers said could herald a new age of philanthropy.
Read the story(AP Photo/Seth Wenig)
