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Omaha Steve

(99,660 posts)
Tue Jul 10, 2012, 09:10 PM Jul 2012

Warren Buffett gives away $1.9 billion worth of stock

Source: Omaha World Herald-AP

Billionaire Warren Buffett has handed out $1.9 billion worth of Berkshire Hathaway Inc. stock as part of his plan to gradually give away most of his $44.1 billion fortune.

Buffett disclosed his gifts of 22.4 million Class B Berkshire shares Monday. The biggest gift of about 18.4 million shares worth more than $1.5 billion went to the Bill & Melinda Gates Foundation.

Buffett also gave 1.8 million shares to his own foundation and 643,203 shares to his three children's foundations.

He gave 238,165 shares ($20 million) to eight unnamed charities, and 10 shares to 15 elementary school children who were finalists in a contest.


Read more: http://www.omaha.com/article/20120710/MONEY/120719987/1685#warren-buffett-gives-away-1-9-billion-worth-of-stock

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Warren Buffett gives away $1.9 billion worth of stock (Original Post) Omaha Steve Jul 2012 OP
I need to start a foundation. MrSlayer Jul 2012 #1
How about giving away $1 billion to the Priorities USA superpac? bluestateguy Jul 2012 #2
That would be a great idea meow2u3 Jul 2012 #4
While that may seem like a good idea.. ObaMania Jul 2012 #18
That was my thinking! denvine Jul 2012 #10
He is doing something better for Americans, he has purchased 88 newspapers in "red" states. justice1 Jul 2012 #12
And I didn't even get a t shirt. bluedigger Jul 2012 #3
Wow - lucky elementary school kids.... JusticeForAll Jul 2012 #5
Um, you're off a bit... armodem08 Jul 2012 #6
looks like this is the class b, not the class a shares.... unblock Jul 2012 #7
Once again, it trickles away from me. n/t SDjack Jul 2012 #8
Just a hidey hole 7wo7rees Jul 2012 #9
Your opinion is shared by many Mrs. Ted Nancy Jul 2012 #11
Thank you Mrs. Ted Nancy 7wo7rees Jul 2012 #13
If Bill Gates is involved, no public good will come of it. nt AdHocSolver Jul 2012 #14
Great synopsis. DCKit Jul 2012 #16
Galvanic Skin Response bracelets -- sounds like shock collars. BadgerKid Jul 2012 #21
"Galvinic skin response bracelet?" malthaussen Jul 2012 #22
A lot of philanthropy is about control. JDPriestly Jul 2012 #17
I cannot understand the "love affair" on DU with Warren Buffett. AdHocSolver Jul 2012 #15
Remember, any cash he gives Dokkie Jul 2012 #20
Face it, eventually a man must die clean. truthisfreedom Jul 2012 #19

bluestateguy

(44,173 posts)
2. How about giving away $1 billion to the Priorities USA superpac?
Tue Jul 10, 2012, 09:13 PM
Jul 2012

That money would be well needed right now.

ObaMania

(2,054 posts)
18. While that may seem like a good idea..
Wed Jul 11, 2012, 05:06 AM
Jul 2012

.. with what the Repukes have in motion to secure the coming election it is a more winning proposition to invest in something you'll get back tenfold over the next four years.

With the way the Dems have managed the campaign so far it would be like pissing money away giving it to any progressive PAC.

JusticeForAll

(1,222 posts)
5. Wow - lucky elementary school kids....
Tue Jul 10, 2012, 09:31 PM
Jul 2012

They each got 10 shares?!?

1.25M! even if it's divided....$84,000 is a nice haul!

armodem08

(203 posts)
6. Um, you're off a bit...
Tue Jul 10, 2012, 09:38 PM
Jul 2012

Berkshire Hathaway-B closed near $83, meaning they each get roughly $830, not $84K. Still, a nice gesture.

7wo7rees

(5,128 posts)
9. Just a hidey hole
Tue Jul 10, 2012, 10:15 PM
Jul 2012

I've been reading DU too long to see this as some grand giveaway.

In my opinion, The Bill and Melinda Gates Foundation is a contraption designed to park billions in a tax-free haven indefinitely.
Billionaires like Bill and Warren don't walk away after winning the game of historical money-earning.
They dress up a philanthropy as a permanent rest home for their legacies.

Again, just my thoughts. JD Rockefeller gave away millions in dimes, but kept the hard cash at home.

P.S. Don't think in any way I'm bashing philanthropy in general. This rant is about retiring billionaires' "card" games.

Mrs. Ted Nancy

(462 posts)
11. Your opinion is shared by many
Tue Jul 10, 2012, 11:49 PM
Jul 2012

The Gates Foundation is involved in some nefarious activities:

The Gates Foundation's Leveraged Philanthropy: Corporate Profit Versus Humanity on Three Fronts
By Anthony Cody on July 4, 2012 11:47 AM

Guest post by Chemtchr. Part One of Two.

Philanthropy wonk Lucy Bernholz defines the buzzword leverage
as "the idea that you can use a little money to access a lot of money."

It's hard to think of the Gates Foundation's $26 billion leverage effort
as "a little money", especially since it's been spread over the globe to gain access to vastly more resources than it contributes, including U.S. tax dollars, the foreign exchange of emerging African nations, and United Nations funds for international development and world health.

Gates' leveraged philanthropy model is a public-private partnership to improve the world, partly through targeted research support but principally through public advocacy and tax-free lobbying to influence government policy. The goal of these policies is often to explicitly support profitability for corporate investors, whose enterprises are seen by the Gates Foundation as advancing human good. However, maximum corporate profit and public good often clash when its projects are implemented.

For example, chemical giant Monsanto has partnered with the Gates Foundation, which reportedly works to suppress local seed exchanges and environmentally sustainable agricultural practices through its global agricultural charity work. Fraud-prone drug giant GlaxoSmithKline is a partner in the Foundation's work to leverage its own relatively fractional contribution to vaccination efforts, so that it centrally controls enormous world funds for purchase, pricing, and delivery of vaccines for world public health. And in its U.S. education reform charity work, the Gates Foundation has increasingly shifted its funding to promote market domination by its British corporate education services partner, Pearson Education...


http://blogs.edweek.org/teachers/living-in-dialogue/2012/07/the_gates_foundations_leverage.html


Then there is the $498,055 grant to develop the "Galvanic skin Response Bracelet".

the purpose of the grant is "... to conduct a pilot study to measure student engagement physiologically with Galvanic Skin Response (GSR) bracelets, which will determine the feasibility and utility of using such devices more broadly to help students and teachers.

Also, there was a $621,265 grant given to the National Center on Time and Learning. Its purpose is "to measure engagement physiologically with Functional Magnetic Resonance Imaging and Galvanic Skin Response to determine correlations between each measure and develop a scale that differentiates different degrees or levels of engagement."

http://www.washingtonpost.com/blogs/answer-sheet/post/gates-changes-galvanic-bracelet-grant-description/2012/06/12/gJQAPkEAYV_blog.html


Apparently, the Gates foundation has sponsored an astroturf advocacy group.

Behind Grass-Roots School Advocacy, Bill Gates
By SAM DILLON
Published: May 21, 2011

INDIANAPOLIS — A handful of outspoken teachers helped persuade state lawmakers this spring to eliminate seniority-based layoff policies. They testified before the legislature, wrote briefing papers and published an op-ed article in The Indianapolis Star.

They described themselves simply as local teachers who favored school reform — one sympathetic state representative, Mary Ann Sullivan, said, “They seemed like genuine, real people versus the teachers’ union lobbyists.” They were, but they were also recruits in a national organization, Teach Plus, financed significantly by the Bill and Melinda Gates Foundation.

For years, Bill Gates focused his education philanthropy on overhauling large schools and opening small ones. His new strategy is more ambitious: overhauling the nation’s education policies. To that end, the foundation is financing educators to pose alternatives to union orthodoxies on issues like the seniority system and the use of student test scores to evaluate teachers.

In some cases, Mr. Gates is creating entirely new advocacy groups. The foundation is also paying Harvard-trained data specialists to work inside school districts, not only to crunch numbers but also to change practices. It is bankrolling many of the Washington analysts who interpret education issues for journalists and giving grants to some media organizations..."


http://www.nytimes.com/2011/05/22/education/22gates.html?_r=1


Warren Buffet's wealth could be put to much better use than this.








7wo7rees

(5,128 posts)
13. Thank you Mrs. Ted Nancy
Wed Jul 11, 2012, 12:14 AM
Jul 2012

As time passed, I prayed for Octafish come in and substantiate my feelings.
As it turns out, you're just the superhero I was waiting for.

malthaussen

(17,204 posts)
22. "Galvinic skin response bracelet?"
Wed Jul 11, 2012, 09:09 AM
Jul 2012

Why not just beat the child as in the good old days? Education will never improve until children are abused again. Especially since rote-response is all we want from our education system these days.

-- Mal

JDPriestly

(57,936 posts)
17. A lot of philanthropy is about control.
Wed Jul 11, 2012, 02:17 AM
Jul 2012

The philanthropist says, "I'm going to give you money, but you have to use it the way I want you to." Anything to avoid paying taxes because tax money is used for public purposes, that is for purposes that the philanthropist can't dictate or get credit for. Of course, big foundations hire a lot of employees who make the decisions about the details, but the philanthropist determines the direction and gets lots of control and credit for it.

This is from someone who worked to raise money for a homeless project.

AdHocSolver

(2,561 posts)
15. I cannot understand the "love affair" on DU with Warren Buffett.
Wed Jul 11, 2012, 12:43 AM
Jul 2012

His huge donation to the Bill and Melinda Gates foundation by itself makes his motives and goals suspicious.

 

Dokkie

(1,688 posts)
20. Remember, any cash he gives
Wed Jul 11, 2012, 06:41 AM
Jul 2012

away to his so called charity just means less money that will come into the govt as taxes and if he successfully gives it all away before he dies then very little amount he has to pay in estate tax. This is a tax evading scheme and some of us here are supporting it

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