why did warren buffet donate almost all of his money to?

Question

Gates foundation? I mean he could donate this to his wife's foundation...What is the motive behind that?

well this guy is a hardcore business man dude...there has to be a financial motive behind this....pls don't say he liked bill gates etc....

Answer 1

It had everything to do with scale. I think most of his wife's estate went to the Gate's foundation as well. If you had a foundation that was dealing with a few hundred thousand dollars and suddenly someone gave you a billion, it would take a lot of work to figure out how to deal with that much money. On the other hand if you had 50 billion dollars in your foundation and were already dealing with that much money and someone gave you a few more billion, it would not make that much difference. This is what Buffet was thinking.

Answer 2

last night they had Buffet, Gates, and Gates wife on PBS's charlie rose and from what Buffet said was that the Gates Foundation was doing a much better job than he would be able too (as he is still involved in his business)

Try searching a torrent for the episode great info, but i deffinately dont think it was a tax incentive, the man gave away 85% of his net worth...........plus from what he was explaining him and his late wife agreed on this when they were 20 years of age

Great thing to do :)

Answer 3

Can you say TAX INCENTIVE?? I bet there is a hefty penalty to someone in that position that makes such a sizable donation to a family member's/spouse's charitable foundation! I am sure it was in his best financial interest. Someone with that amount of money knows what they are doing. Personally, I think he could have dispersed it to a much needy American public instead, but who cares about the American people? No one, lately.

Answer 4

He felt the Gates foundation was doing more good than his wifes.

Answer 5

a few billion? it was 37 billion tx