Warren Buffett is handing $140 billion to his family’s foundations. The way he’s doing it reveals how billionaire philanthropy really works
After some drama surrounding Warren Buffett’s relationship with the Gates Foundation, the Oracle of Omaha decided to forgo his annual donation to the Microsoft founder’s philanthropy and direct funds to his own children’s charitable organizations instead. But that move, consequently, sparked a debate about why Buffett was moving the $140 billion so quickly.
Reported by 1 outlet — Fortune. See all sources ↓
After some drama surrounding Warren Buffett’s relationship with the Gates Foundation, the Oracle of Omaha decided to forgo his annual donation to the Microsoft founder’s philanthropy and direct funds to his own children’s charitable organizations instead. But that move, consequently, sparked a debate about why Buffett was moving the $140 billion so quickly. Some readers told CNBC they assumed he was doing it to avoid taxes, and some wondered whether this move would just ultimately slow distributions to actual nonprofit organizations and people in need. But experts who advise major donors, study tax law, and sit on foundation boards told Fortune the question isn’t really about whether Buffett avoids taxes by making this move.
Read the full report at Fortune ↗
Why it matters
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- What's the story?
- After some drama surrounding Warren Buffett’s relationship with the Gates Foundation, the Oracle of Omaha decided to forgo his annual donation to the Microsoft founder’s philanthropy and direct funds to his own children’s charitable organizations instead. But that move, consequently, sparked a debate about why Buffett was moving the $140 billion so quickly.
- How widely is it covered?
- 1 outlet, average source rating 6.0/10.
- When was it last updated?
- 3m ago.
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Warren Buffett is handing $140 billion to his family’s foundations. The way he’s doing it reveals how billionaire philanthropy really works
Sources1TypeCoverageFortune