Gift Will Double Scope of Largest Charity

The ColumbianJuly 03, 2006

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SEATTLE -- With Warren Buffett's announcement Sunday that he would be starting to make an annual donation of about $1.5 billion to the Bill and Melinda Gates Foundation, the world's largest foundation has a new challenge: how to distribute twice as much money each year.

In a letter dated today, Buffett told Bill and Melinda Gates that the first donation of Berkshire Hathaway Inc. stock would go to the foundation, which has assets of $29.1 billion, next month.

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Gift Will Double Scope of Largest Charity

"I greatly admire what the Bill & Melinda Gates Foundation ("BMG") is accomplishing and want to materially ...

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