Warren
Buffett, the world's second richest man, has pledged $30.7bn of his $44bn
fortune to the Bill and Melinda Gates Foundation. The billionaire investor will
donate the money in stages, he said, in the form of shares in his company
Berkshire Hathaway Inc. This year the Gates' Foundation will receive half a
million shares worth around $1.5bn. In total, Buffett has pledged 10m shares to
the foundation, which will get a further five per cent of the total, each year,
for as long as either
Bill or Melinda Gates remains involved with the charity. This makes it the
single largest monetary donation in history. The Gates' are said to be "awed" by
the donation.
