| Super billionaire supports eight unnamed charities | |
Warren Buffett has continued to back up his pledge to donate his vast wealth to charity...
Buffett has announced he gave 41.6 million USD in stock to eight unnamed charities in the last half of 2011. The super wealthy philanthropist became the world’s biggest ever charity donator in 2009 when he gave a massive $37 billion to the Bill and Melinda Gates Foundation.
Now the billionaire has offered his latest 41.6 million donation to charity as just one of his latest series of donations and is promising to give away even more to charity.
Buffett revealed the donations via his end of year report on his Berkshire Hathaway corporation holdings. The philanthropy campaigner donated 521,292 shares of company stock. The amount is in addition to other charity donations in the last couple of years including investment in the Bill & Melinda Gates Foundation and his family foundations...
Reportedly one of the recent charity donations alone was valued at $31.5 million.
The philanthropist, currently ranked by Forbes as the world's second richest man, has said that he will donate all his wealth to charity eventually, which is currently estimated at approximately 40 billion dollars...
Buffett has also been recognised as instrumental in beginning a debate about the responsibilities that come with wealth in the USA, regularly encouraging other rich people to give significant sums to charity. Buffett has even called on the US government to tax the rich more to provide for essential services, a controversial idea in the free market economy of the United States.
However, surveys in the US suggest that a majority of super-rich are supportive of his ideas that they should be generous and follow his lead and that of fellow billionaire philanthropist Bill Gates to do more to help others.
Recent surveys include the Spectrem Group research last year that found that 68 per cent of millionaires supported raising taxes on those with $1 million or more in income. A more recent survey by PNC Wealth Management, Responsibility and Money: How the Wealthy View Their Role in Society revealed that 64 per cent believe they should give big amounts to charity to help others.
Forbes in December revealed that in 2009 the very rich gave away 20 billion USD via family charity foundations...
Mr Buffett is one of a number of very wealthy Americans who have signed up to the Giving Pledge campaign to encourage the richest people in the USA to make a commitment to give the majority of their money to philanthropic causes.
The campaign focuses on billionaires and was launched in 2010 by Warren Buffett and Bill Gates...
Read more Xperedon Charity News at: www.xperedon.com/charity_news
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