Politics
Monday June 26, 2006
Warren Buffett Gives $31 Billion to Gates Foundation
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By John Jalsevac
NEW YORK, June 26, 2006 (LifeSiteNews.com) – The wealth of the two richest men in the world, Warren Buffett and Bill Gates, has just been consolidated in a dramatic fashion.
Buffett has announced that he will be giving away over 80% of his wealth in the next number of years, $31 billion of which will be given to the Gates foundation in the form of stocks. The result, according to Forbes, is a giant charitable organization worth approximately $60 billion.
To pro-life and pro-family advocates, however, the new arrangement hardly makes things any worse—and certainly not any better—than before. Gates and Buffett are birds of a feather, having both been long time supporters of population control, giving large sums of money to groups that advocate abortion, contraception and sterilization, usually in the name of stopping AIDS or poverty.
In the past Buffett’s own charitable foundation has supported groups including Planned Parenthood of America, the Population Council, NARAL, Catholics for Choice, and numerous other similarly pro-abortion/anti-life groups. The beneficiaries of The Gates Foundation include many of the same groups, most notably Planned Parenthood, to which the Gates Foundation has donated many millions of dollars.
“Who can possibly do a better job dispersing this money?” said Buffett about the donation to the Gates Foundation. “When you accumulate wealth, it makes sense to turn the money over to an investment manager who can manage it better than you can.”
The men, who are longtime fellow bridge players, said that they have discussed giving their money away for ten years. Recently Bill Gates made headlines when he announced that he would be gradually distancing himself from his work with Microsoft to focus on his charitable work.
The goal of the Gates Foundation’s work, says Gates, “is to eradicate the 20 leading diseases in the world,” most notably AIDS.
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