LYCOS RETRIEVER 
Warren Buffett: Gates Foundation
built 606 days ago
Buffett married Susan Thompson in 1952. They had three children, Susie, Howard, and Peter. The couple began living separately in 1977, though they remained married until her death in July 2004. His daughter Susie lives in Omaha and does charitable work through the Susan A. Buffett Foundation and is a national board member of Girls, Inc.
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Buffett has already made preparations for his money when he dies. He intends to set up a philanthropic foundation which, given the 23 percent annual rate of return he has averaged throughout his career, could generate a multibillion-dollar legacy to put the Ford and Rockefeller foundations to shame. He wants the fund's trustees to focus on halting population growth and nuclear proliferation. His three children will not make out that well; Buffett has said he plans to leave them "only" about $5 million apiece. He was quoted in Esquire as saying, "I think kids should have enough money to be able to do what they want to do, to learn what they want to do, but not enough money to do nothing."
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In giving away his wealth now, Buffett changed his original plans to distribute it after his death--in part to honor his late wife, Susan Thompson Buffett. They were not rich when they married in 1952, he said, but "to the extent we did amass wealth, we were totally in sync about what to do with it--and that was to give it back to society." In the 1960s, he and his wife founded the Susan Thomas Buffett Foundation, and his three children each have their own foundations.
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WARREN BUFFETT will host a lunch to benefit the Glide Foundation and its programs. The lunch will be up for bid on eBay beginning June 24, 2007 at 7:00 pm PT and close June 29, 2007 at 7:00 PT. Mr. Buffett will dine with the winning bidder and up to seven friends in New York on a mutually agreed upon date.
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The rest of Mr. Buffett's philanthropic dollars will be given to foundations run by his children and one that he created with his late wife, Susan. Mrs. Buffett left $2.4-billion to the couple's philanthropy when she died in 2004.
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In June 2006 Buffett announced plans to give much of his wealth away while he is still living. The majority of the Buffett billions will go to the foundation of his Bridge partner and friend of fifteen years, Bill Gates.
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