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Buffett to begin disbursing $42B fortune
By JOSH FUNK, AP Business Writer
Warren Buffett announced plans Sunday to give the bulk of his roughly $42 billion fortune to five foundations in annual gifts of stock starting next month.
The decision represents a stark reversal for the world's second-richest man, who for years had said his wealth would be pledged to philanthropies after his death.
Moreover, his vast holdings of Berkshire Hathaway Inc. stock had been expected to go largely to the Susan Thompson Buffett Foundation, begun by his late wife. Her foundation has given millions of dollars to hospitals, universities and teachers, as well as to Planned Parenthood and other abortion rights groups.
Instead the 75-year-old chairman and chief executive of Berkshire Hathaway plans to give the largest contribution to the Bill and Melinda Gates Foundation, established by Buffett's friend and Berkshire board member Bill Gates.
Buffett's gift will increase the resources of the Gates Foundation, which is already the world's largest philanthropy with assets of about $29.1 billion.[color="Red"]Can anyone get a sniff of the plan? Why are the 2 richest men in the world combining their wealth? What are they going to do with it?
Calls to Berkshire Hathaway's offices were not immediately returned Sunday, but letters outlining the gifts were posted on the company's Web site. Fortune magazine reported on Buffett's decision earlier.
The Gates' issued a joint statement applauding Buffett's decision.
"We are awed by our friend Warren Buffett's decision to use his fortune to address the world's most challenging inequities, and we are humbled that he has chosen to direct a large portion of it to the Bill & Melinda Gates Foundation," Bill and Melinda Gates said.
Over time Buffett plans to give away 12,050,000 Class B shares of Berkshire Hathaway stock to the foundations, but he will have to convert some of his 498,320 Class A shares to complete the gifts. One Class A share, which sold for $92,100 on Friday, can be converted into 30 Class B shares, which sold for 3,071 Friday on the
New York Stock Exchange.
The gifts would be worth nearly $37 billion at Friday's Class A share prices.
Buffett said he plans to earmark 10 million B shares for the Gates Foundation, 1 million B shares for the Susan Thompson Buffett Foundation named in honor of his wife and 350,000 shares for the three foundations run by each of his children.Buffett plans to give each foundation 5 percent of his total pledge each year in July.
Buffett's health has been the subject of speculation. He has said a succession plan is in place at Berkshire but refuses to name a successor.
In the letters, Buffett wrote, "My doctor tells me that I am in excellent health, and I certainly feel that I am."
--end
Does it scare you that the 2 richest men in the world have combined their wealth into a non-profit group that “believe every life has equal value. In 2000, they created the Bill & Melinda Gates Foundation to help reduce inequities in the United States and around the world.”
Microsoft chairman and chairman of Berkshire-Hathaway, a conglomerate of things like newspapers, insurance, candy, shoes, jewelry.
I don’t know what they are up to, but I doubt its going to be good for whites.
'My country is changing all around me. This is not the country that my forefathers built. It must be because those brown-skinned people are coming in and destroying it.' - Mark Potok the racist
VNN: for entertainment purposes only.
Posted : 25/06/2006 12:02 pm
Warren, call up Bill and Melinda, and see if they'll give you your money back. From "The White Man's Bible" by Ben Klassen:
http://overthrow.com/creator/wmb/credo21.asp
Colonization — A Basic Urge in Every Creature of Nature's Realm
The mixed mongrels of South America and Mexico are multiplying at an explosive rate, the Chinese are expanding rapidly toward the billion mark, the Hindus are racing towards the billion mark towards the end of the century. The niggers are multiplying like cockroaches and taking over city after city right here in America, a once wonderful country built exclusively by and for the White Race. And the reason these parasites are expanding at an insane rate is solely due to the work, technology and munificent (but stupid) charity of the White Man himself. We are turning over the fruits of our labor and technology to breed and feed the mud races so they can crowd us off the face of the earth, so they can more easily turn on us and massacre us as this macabre spectable nears its finale.
This Insanity Must Stop. It is the goal and duty of The Creativity Movement to again straighten out the thinking of the White Race regarding its own survival, expansion and advancement. It is our unalterable objective to again set the White Race on the course it pursued over the centuries, only this time in a planned and deliberate program.
http://overthrow.com/creator/wmb/credo23.asp
White Man's Criminal Negligence in Protecting the Survival of His Own Kind
Obvious Danger. Consider the following situation: A man, his wife and three children live on the fifth floor of an apartment building. A raging fire is in progress on the second floor of the same apartment building, but not immediately underneath his section of the building. Dense smoke is oozing throughout the building, even into their own apartment. Other tenants are screaming and running to get out. The facts of the fire are plainly visible to the man and his family. Although the elevators are already blocked by the fire there is a fire excape at his end of the building by means of which he and his family could still escape. At this time he could still rescue himself and his family.Time is of the Essence. But the man just sits there nonchalantly like a mesmerized idiot and watches the scene as if he were a mere spectator without any personal stake whatsoever in the tragedy unfolding before his eyes.
The present White Man is doing none of these. He not only doesn't fight, he doesn't even try to retreat or separate himself from mortal danger. Instead he embraces and tries to love and subsidize that which means his own destruction. He unconsciously practises the Christian doctrine of "love your enemy" to an extent that his more fanatic religious forebears of the Middle Ages never even dreamed of.
...But now by means of the White Man's ability to produce huge quantities of food and the White Man's generous (read stupid) largesse of supplying the scum of the world, we not only have a population explosion of niggers in the U.S., but a population explosion of all the other mud races of the world. All this, as we said, thanks to the White Man's ability and suicidal generosity (the latter cleverly directed by the impetus of Jewish propaganda and manipulation).
Posted : 25/06/2006 10:47 pm
Protecting the fortune from endless litigation and assuring that the control of such fortune be kept by a like-minded tool of the jew?
Posted : 25/06/2006 10:58 pm
This just in, Buffet to give away his fortune...
No, give it to the NWO, Trilateral Commission
and Illumiati... Gates yeah... it will end
up with the first three, watch.
Posted : 26/06/2006 9:33 am