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Buffett Donates $3.6 Billion To 5 Foundations In Biggest Gift Yet Bill & Melinda Gates Foundation Susan Thompson Buffett Foundation Sherwood Foundation Howard G. Buffett Foundation NoVo Foundation What all these five foundations have in common?
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Buffett Donates $3.6 Billion To 5 Foundations In Biggest Gift Yet
by Tyler Durden
Mon, 07/01/2019 - 20:55
Apparently, incidentally auctioning off a one-hour lunch date to a crypto evangelist who, we imagine, used the opportunity to harangue Buffett about his bearish outlook on crypto didn't spoil the billion investor's appetite for charitable giving.
Because on Monday, the Oracle of Omaha, 88, said he would give away $3.6 billion in Berkshire Hathaway stock to five foundations, including the Bill & Melinda Gates Foundation, which is overseen by Buffett's 'best bud' (at least when the cameras are rolling) Bill Gates.
The gift is Buffett's biggest annual pledge yet.
These are the other beneficiaries of Buffett's generosity, according to CNBC:
The Oracle of Omaha will convert 11,250 of his Class A shares into 16.875 million Class B shares. About 16.8 million of these Class B shares will be donated to five foundations: Bill & Melinda Gates Foundation, Susan Thompson Buffett Foundation, Sherwood Foundation, Howard G. Buffett Foundation and NoVo Foundation, the company said in a statement on Monday.
Here's a breakdown of Buffett's annual giving, courtesy of Bloomberg.
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... und die Zeltstädte werden immer größer ... ??? ...4. The global economy was being pushed to the point of collapse to implement the new Quantum Financial System (QFS).
According to FactSet data shared by CNBC, Buffett is Berkshire’s largest shareholder; he owns 37.4% of the firm's Class A shares.
Buffett has never sold any of his Berkshire shares, according to the firm. But he has given away some $34 billion in Berkshire stock since 2006 (when he first pledged to give away nearly all of his wealth to charities), roughly 45% of his holdings. He eventually plans to give away all of his shares during annual grants that will continue until ten years after his estate is settled.
But Buffett isn't the only conspicuously wealthy American giving away large blocks of stock this week: According to Bloomberg, Walmart heir Jim Waltongave gave $1.2 billion of the retailer’s shares last week. Home Depot Inc. co-founder Bernie Marcus said he's planning to give away all $4.5 billion of his fortune before he dies.
Meanwhile, several other Wall Street luminaries, including Jamie Dimon and Ray Dalio, have joined Buffett in calling for higher taxes on the wealthy - something that he has long advocated. At least if President Elizabeth Warren fails in her quest to expropriate the assets of every American billionaire, Buffett has made it clear that he's perfectly comfortable giving away his wealth. ...
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... ich nehme es von denen ... und schencke es den anderen ...https://www.zerohedge.com/news/2019-07-01/buffett-donates-36…
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An Arm of the World Bank Has Been Implicated in Latin America's Biggest Corruption Scandal
In this June 12, 2019, photo, a man walks past an entrance to the International Finance Corporation,
a unit of the World Bank Group, in Washington.
Patrick Semansky—AP
By Joshua Goodman / ap 3:53 AM EDT
(BOGOTA, Colombia) — María Victoria Guarín was a key adviser on Colombia’s biggest-ever transportation project: a 1,000-kilometer (620-mile) highway across mountainous terrain connecting the capital to busy Caribbean ports.
As an investment officer for a World Bank unit, it was her job to help the government set the terms for competitive bidding by contractors. It turns out she was also married to a senior executive of a company that won part of the very contract she helped to oversee.
That apparent conflict of interest has now dragged the bank into the edges of Latin America’s biggest corruption scandal, as revealed in a little-noticed report issued last year by Colombia’s anti-trust agency.
The Grupo Aval conglomerate that employed Guarín’s husband was partnered with Odebrecht, the Brazilian construction giant that has admitted to paying $6.5 million in bribes to seal the deal — one of dozens of projects it now acknowledges winning through illegal payments.
The scandal upended the region’s politics, leading to the jailing of dozens of senior politicians. But the role played by the World Bank in advising governments during the graft-ridden infrastructure boom of the past decade has received far less attention.
The private-sector arm of the World Bank, ...
https://time.com/5618835/world-bank-international-finance-co…