Bill Gates and Warren Buffett are the most philanthropic folks on the planet. To date the men have given away $28 billion and $17.5 billion respectively.
And Buffett’s and Gates’ partnership in generosity is by now well-known. In 2006, Buffett pledged to donate 10 million shares of Berkshire Hathaway stock to the Bill & Melinda Gates Foundation. The gift, then valued around $31 billion, is given in annual increments of 5% of the remaining pledged shares. So far, more than $9.5 billion has been transferred—and largely given away.
One of Buffett’s few requirements is that each installment be spent within a year of receipt. So the 2011 payment of about $1.5 billion must be granted out in 2012. His other stipulations are that use of his gift must meet all legal requirements of charity and that Bill or Melinda must be alive and active in the foundation for the pledge to hold.
Buffett’s $1.25 billion contribution in 2009 accounted for slightly more than 50% of the just under $2.5 billion given by the foundation in 2010. So that year, by Forbes estimations, Buffett gave $751 million to global health and $157 million to education, while Gates gave $734 million and $154 million, correspondingly.
In total, Forbes estimates that Gates has given around $8.3 billion toward health and $4.6 billion toward education. Buffett’s health total is about $3.9 billon and his education number is around $1.1 billion.
Tags: Bill Gates, charitable giving, giving, philanthropic, Warren Buffett