U.S BILLIONAIRE, WARREN BUFFET DONATES $3.17b TO CHARITY

The Oracle of Omaha, Warren Buffet, the second  richest man in the United States, set another personal record after he donated a whooping sum of $3.17 billion to the  Bill & Melinda Gates Foundation and four family charities. The billionaire business magnate also funded the charity organisations of his children- the Howard G. Buffett Foundation, the Sherwood Foundation and the NoVo Foundation — which are run by Howard, Susan and Peter Buffett, respectively. In 2006, Buffett announced plans to gradually donate all his Berkshire Hathaway shares.It was a promise that took on a new life in 2010, when Buffett launched The Giving Pledge with Bill Gates. The initiative encourages the world’s billionaires to dedicate the majority of their wealth to philanthropy. As of May, 170 people had signed the pledge across 21 countries Warren Buffett is one of the richest men in the world. He built his fortune using a simple yet powerful investment strategy. His investments are long-term positions, accomplished by the purchase of strong companies that are trading well below their intrinsic value. Some of his most well-known investments include Coca-Cola and Gillette.(http://money.cnn.com)
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