Warren Buffett is an American business magnate, investor, and philanthropist born in 1930. He is considered the most successful investor of the 20th century and has been the chairman and largest shareholder of Berkshire Hathaway. Buffett pledged over $3 billion total to his three children's foundations that support causes like agricultural development, women's programs, and social justice. He also sponsors an educational contest for children and donates millions each year to charitable organizations through his foundation.
2. BRIEF DESCRIPTION
WARREN BUFFETT IS AN AMERICAN BUSINESS MAGNATE,INVESTOR AND
PHILANTHROPIST BORN ON AUG 30 1930.
CONSIDERED AS THE MOST SUCCESSFUL INVESTOR OF 20TH CENTURY.
BUFFETT IS THE CHAIRMAN AND WAS THE LARGEST SHAREHOLDER OF
BERKSHIRE HATHAWAY. HE WAS RANKED AS THE WORLD’S WEALTHIEST
PERSON IN 2008.
BUFFETT IS NICKNAMED AS ‘WIZARD OF OMAHA’. IN 2012, AMERICAN
MAGAZINE TIME NAMED BUFFET ONE OF THE MOST INFLUENTIAL PEOPLE IN
THE WORLD.
3. THE PLEDGE
Mr. Buffett pledged 12,220,852 shares of Berkshire Hathaway class “B”
stock, valued at more than $1-billion, to each of his three children’s
foundations. The Howard G. Buffett Foundation gives money to
agricultural development, clean-water projects, and programs working to
fight poverty. The NoVo Foundation, co-founded by Peter Buffett and his
wife, Jennifer, seeks to improve the well-being of girls and women globally
and supports economic and education programs. The Sherwood
Foundation, founded by daughter Susan Buffett, supports social-justice
and early-childhood education. This pledge follows a 2006 promise to give
each foundation about $1-billion, which Mr. Buffett has been steadily
paying off each year.
4. THE CONTEST
Mr. Buffett gave stock worth close to $1-million to a charity in 2012 and 10
shares of stock to each of 15 elementary-school students who won an
educational contest sponsored by Mr. Buffett called the “Grow Your Own
Business Challenge.” The contest is associated with “The Secret Millionaires
Club,” an animated television show that features Mr. Buffet and seeks to
teach children about business and personal finance.
5. BUFFETT FOUNDATION
Buffett Foundation is a charitable organisation formed by Warren Buffett as a
vehicle to manage his charitable giving. It was renamed Susan Thompson
Buffett Foundation in honour of his wife Susan Buffett after her death in 2004.
International Projects Assistance Services (IPAS), based in Carrboro
manufactures a handheld suction pump used in developing countries to
initiate abortions. The Buffett Foundation has backed IPAS for years. Its 1999
contribution of $2.5 million is part of a five-year, $20 million commitment that
will enable IPAS to double its capacity.
6. …….
The Foundation provides grants to a large range of US and a few
international organisations, including the Willows Foundation in Turkey
(€2.3 million), the World Food Programme in Italy (€800,000), Marie Stopes
International in the UK (€571,000); and Grupo de Informacion en
Reproduccion Elegida in Mexico (€196,000).
In 2007, Omaha's Building Bright Futures initiative promised financial
support to low-income students in the area who wanted to attend
college. For years, the foundation capped the scholarship at about 100
students. Starting with the 2007-08 school year, the foundation lifted that
cap to 770 students. The foundation granted nearly $2.4 million during the
2007-08 year.
7. MORE INFO
Buffet also provides charity to Bill And Melinda Gates Foundation
supporting health and education by giving $1.5 billion annually.
He sets a record by giving $2.8 billion of Berkshire Hathaway Inc. stock to
five charities, as part of the billionaire's plan to give away nearly all of his
wealth recently.