Warren Buffett's $3.5B Donation: Bill Gates Hails Generosity Of Sage Of Omaha That Has Made An 'Impact On Millions Of Lives'
Former Microsoft CEO and co-founder of the tech giant, Bill Gates, said Berkshire Hathaway Inc (NYSE:BRK) (NYSE:BRK) CEO Warren Buffett's "generosity" has impacted millions of lives.
What Happened: Gates made the comment in response to a message of thanks from The Bill & Melinda Gates Foundation's CEO Mark Suzman who said that the philanthropic donation, made by Buffett, had been received by the organization.
Gates said, "Warren's generosity plays an enormous role in achieving the foundation's ambitious goals and has made an impact on millions of lives."
"I always find it hard to adequately express how much our lifelong friendship and his support means to me."
The Bill & Melinda Gates Foundation has given out $1,960 in grants as of December 2022 and its total charitable support amounts to $7 billion. The organization has 1,217 grantees. It describes itself as a "nonprofit fighting poverty, disease and inequity around the world."
Why It Matters: Buffett announced a donation of nearly $4.63 billion in the form of Berkshire's stock to different foundations, out of which $3.54 was donated to the Bill & Melinda Gates Foundation Trust.
Other beneficiaries include Susan Thompson Buffett Foundation — the foundation is named after Buffett's late first wife. Sherwood Foundation, Howard G. Buffett Foundation and NoVo Foundation also were receivers of Buffett's largesse.
Buffett's more than $100 billion donation to the Gates Foundation has attracted criticism from a Virginia-based conservative organization — The National Legal and Policy Center.
The Center's Chair Peter Flaherty said ahead of Berkshire's last general meeting that if "woke" culture is a disease, then "philanthropy is the virus."
Gates, on the other hand, has long praised Buffett. The two men have been friends for decades. The Microsoft co-founder said Buffett advised him to pick his friends wisely.
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