Giving wealth away

By Michael Tan
Inquirer
Last updated 00:46am (Mla time) 06/28/2006
Published on Page A13 of the June 28, 2006 issue of the Philippine Daily Inquirer
Online: www.inq7.net

FIRST it was news about Bill Gates, the world's richest man, announcing that he was giving up his job at Microsoft so he could devote his time to his charity, the Bill and Melinda Gates Foundation. That foundation has given billions of dollars in grants, mainly to global health programs to fight diseases such as HIV/AIDS, malaria and tuberculosis.

Yesterday, there was even more earth-shaking news: Warren Buffett, sometimes described as the world's second richest man, announced that over the next five years, he would be giving away 85 percent of his wealth, in the form of stocks in his investment company, Berkshire. Based on the current prices of the stocks, it is estimated he could give away as much as $37 billion.

Read more here.