Tuesday, August 10, 2004

Forbes.com: Buffett: Leaves Bulk Of Fortune To Charity

Forbes.com: Buffett: Leaves Bulk Of Fortune To Charity: "The late Susan Buffett has legated the bulk of her estate to the charitable organization she headed. On July 29, the wife of billionaire investor Warren Buffett, the world's second-richest man, died of a stroke at the age of 72. Susan Buffett and her husband had lived separately for many years, but they remained close and still often traveled together. She held about $2.6 billion of Berkshire Hathaway (nyse: BRKa - news - people ) stock at the time of her death, bequeathing the bulk of this fortune to the Buffett Foundation, of which she was president. The foundation has often been criticized by pro-life organizations for its contributions to Planned Parenthood and other abortion rights groups, but has also given money to hospitals, universities and teachers. Meanwhile, Warren Buffett, 73, has said that his stock in Berkshire, worth roughly $40 billion, will also go to the Buffet Foundation upon his death. The donation would make the charity the largest in the country, outpacing the Microsoft (nasdaq: MSFT - news - people ) chairman's Bill and Melinda Gates Foundation by approximately $27 billion. "

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