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Investor to Give Away Fortune

By Marc Pitzke in New York

Warren Buffett, the second richest man in the world, is to give away most of his billions of dollars to worthy causes. This act of generosity has catapulted him into the ranks of legendary philanthropists and has given wealth back its good name.Berkshire Hathaway Chairman Warren Buffett is to donate most of his fortune to help solve some of the world’s “biggest problems.”

When Warren Buffet married as a 22-year-old in 1952, he warned his bride Susie: “I’m going to be rich one day.” Suzie didn’t get very excited. “She either didn’t care or didn’t believe me,” Buffett recalled in an interview published this week in Fortune magazine. Just in case this did ever really happen, the two agreed what they would do with the money: “give it back to society.”

Two years after the death of his wife, Buffett, now 75, has made their common dream a reality. On Sunday, the world’s second-richest man announced that he was giving away 85 percent of his fortune, with most of it slated to be donated to the Bill and Melinda Gates Foundation. The Microsoft founder, who is the world’s richest man, is also a close friend.

January 21, 2009 - Posted by | General Articles

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