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Warren Buffett: Gates Foundation
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The gift to the Gates Foundation marks a major shift in how the billions accumulated by Mr. Buffett will be spent. Nine years ago, much of the investor's eventual philanthropy was expected to be used for population and reproductive-health programs (The Chronicle, Nov. 13, 1997). The Gates Foundation's biggest program, global health, has a very different focus: developing vaccines for diseases that kill millions of people in developing countries each year.
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Spending by the foundation will now double, because of a donation from Warren Buffett that amounts to $1.5 billion a year. Here, a list of the four main areas of Gates grants:
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[I]t's important to note that Buffett had hardly impoverished himself or his kids. The July 2nd New York Times article on the three children ("Buffett Children Emerge as a Force in Charity") describes their lives briefly and notes that each will receive $1 billion apiece for their individual foundations. That may pale in comparison to the donation to the Gates Foundation and even to the donation to the foundation named after their mother, but $1 billion is a pretty hefty sum for a foundation.
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This is typical of Buffett, who joined with fellow liberals George Soros and Bill Gates' father and liberal Senate Democrats to retain the estate tax. The Buffett Foundation (known by the name of his wife, the Susan Thompson Buffett Foundation) has contributed substantial funds to United for a Fair Economy (UFE), a "national advocacy" organization that favors big government and higher taxes, including retention of the estate tax.
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"There is more than one way to get to heaven, but this is a great way," said Buffett. He presented the biggest gift to Gates, and $1 billion donations to his own foundation and the foundations run by each of his three children.
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