Warren Buffett Indian giver? Can he fulfill his obligations to the Gates Foundation?

wilburbear · May 5, 2009

Buffett lost about half of his 54 billion. How can he come through with his 38 billion commitment to the Gates foundation?

Buffett was blindsided by lots of things.

Has this Buffett-Gates thing been in the media?

pspr · May 6, 2009

Oh no! I hope he doesn't reneg on his commitment to the University of Nebraska Athletic Department.

KrispyKreme50 · May 6, 2009

Buffett never pledged $38 billion in <b>cash</b> in the first place. $38 billion was the approximate value of the Berkshire stock he pledged at the time.

CET · May 6, 2009

He pledged $3B a year contingent on him being satisfied with what the foundation did with the money each year.

macrotrader · May 6, 2009

http://www.berkshirehathaway.com/donate/bmgfltr.pdf

Here are the mechanics: Ten million B shares will be earmarked by me for BMG contributions. (I currently own only A shares but will soon convert a number of these to B.) In July of every year, or such later date as you elect, 5% of the balance of the earmarked shares will be contributed either directly to BMG or to a charitable intermediary that will hold the earmarked shares for the benefit of BMG. To illustrate, in 2006, 500,000 shares will be contributed. In 2007, 475,000 shares (5% of the 9,500,000 remaining after the 2006 contribution) will be contributed and thereafter 5% fewer shares will be contributed each year.
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Warren Buffett Indian giver? Can he fulfill his obligations to the Gates Foundation?

wilburbear

pspr

KrispyKreme50

CET

macrotrader