Buffet Giving It Away
The top story on Techmeme this morning is Warren Buffet’s decision to give his fortune away, much of it to the Bill and Melinda Gates Foundation. Buffet’s reasoning for supporting the Gates Foundation? The organization was at scale, with great leadership. In otherwords, in keeping with his own management philosophies, Buffet chose not to create another bureaucracy, but rather to leverage the organization already built by someone else.
Buffet plans to give 5% of his fortune away annually, and approximately 5/6th of that will go to the Gates Foundation so long as either Bill or Melinda are living. His annual donation must be fully dispersed within two years. He will also join the Board of Trustees of the Gates Foundation.
Buffet’s gift will more than double the annual disbursement of the Gates Foundation. The foundation gives a little less than $1.5 billion annually. Buffet’s money will increase that by about $1.5 billion. To put that in perspective, the annual budget of the UN is about the same. The World Health Organizaton spends about a billion annually.  The International Red Cross, about $750 million.
The Gates Foundation is a private institution with the ability, and the legal requirement, to spend at the level of the largest international institutions. And, as Don Dodge notes, it can spend at those levels without the bureacracy of the UN.
It’s mind boggling.
July 19th, 2006 at 10:20 pm
Dear Mr. Buffet and Mr. Gates, Praise the LORD for your decision to give back a portion of your wealth God has blessed you with. Be prepared for God to richly return your blessings. I highly admire your efforts and will pray for you. I also am starting a foundation in another area of service; to feed the poor and needy in the San Diego area and worldwide through specific trustworthy organizations. May you, your families, and your entire staffs have great wisdom and be richly blessed. Love in Jesus Velma Talnadge vtalnadge@COX.NET
July 2nd, 2007 at 1:17 am
dera mr gates i am a mother of 3 grandmother of9 i have worked all my life and bought my children up to do the same i am now 54 and still work very haed in the bannanas in innisfail no matter how hard i work i just dont seam to be able to pay all my bills and be able to save to go over to usa as my daughter is over there she is married to an americian i am bringing her 15 year old daughter up as she did not want to go over there to live but i would love to pay all my bills so i could take her my husband and my self over to see my daughteri was wondering if you were giving some money away we would love some nothing like that has rver happend to us i cant win anything over 2 dollars its sad but people like us work all our life to realy get no where as things keep going up lukey people like you never know how it feels not to have enough money to get by some weeks thank you coral furber 20 boulter close innisfail qld 4860
December 10th, 2007 at 4:02 pm
I am a 36 year old mother of 4 girls, who works a part time job in sales, and works cleaning houses trying to make ends meet. I try to provide them with the things that they need, but that isn’t always possible. I have fallen on hard times, living in a drug infested area due to the fact that I was evicted and this was the only place I could find. I am not able to get any support from my family because they are having it hard themslves. I would like for my girls to be able to have a decent childhood what they have left of it without having to worry about if we are going to have lights and heat for christmas. I don’t worry about myself I just want my girls to grow up with a better life than what I had. I am not the kind of person that likes to ask for help, but I know sometimes we have to do what is neede for our children. My only wish is that my girls will have a better chance at a education than what I did, they neede tutoring for school, but I am unable to pay for it. I know that education is the key to the way out of a community like the one we live in. Any help or assistance would be greatly appreciated. Thank you, p.o. box 86 Lumberton, N.C. 28359
January 2nd, 2008 at 8:12 pm
Dear Mr. Buffet and Mr. Gates, I need money to attend college while supporting my neborne infant. I am currently a stay home mom and i am only twenty one, it feels like i am being held against what i am meant to do which is to go to school and have a good academic achievement. I am dreaming about becoming human resouce personal. To acomplish my dream i need financial support. If you are able to help i will be forever in debt too you. I guess then i can do same as you are helping others. When i acomplish my dream with your help i will do anything in my power to help as many mothers, who are in need of help with financial support to return to work force. I hope to continue your legacey, if i am in level too.