The Oracle of Omaha has done it again.
A few months ago, I wrote about Warren Buffett, the richest person in Omaha, and his devotion to giving his fortune away. And this week, he proved that by gifting another $4 billion.
In 2010, in conjunction with fellow billionaire Bill Gates, Buffett launched the Giving Pledge, asking billionaires to pledge at least half of their wealth to charitable causes. But, of course, Buffett aims to beat his stated aim of giving away half, pledging, in fact, to give away more than 99% of his fortune.
"More than 99% of my wealth will go to philanthropy during my lifetime or at death. Measured by dollars, this commitment is large. In a comparative sense, though, many individuals give more to others every day." Warren Buffett
Since that article in April, Buffett's net worth has dropped from $121 billion to $97 billion. A substantial drop but still a fortune that the rest of us can only dream of.
Despite this big drop in wealth, it hasn't affected Buffett's generosity. He has never been flamboyant and doesn't spend his money on expensive cars and houses. Instead, he prefers to donate his money.
This week Buffett made his annual donations, totaling a massive $4 billion. The donations were given to five philanthropic organizations and were so large that Buffet fell from the fifth richest person in the world to the sixth richest.
According to Forbes, after this latest gift, Buffett has given $48 billion away over his lifetime- the first person to ever give away this much. Most of his donations have gone towards poverty and healthcare initiatives, and education.
Readers, what do you think of Buffett's generosity? What organizations in Omaha would you like to see him support?
Please leave your comments below.