Warren Buffett Donation to Bill Gates' Foundation Means Millions for
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by Steven Ertelt
LifeNews.com Editor
June 26, 2006
Omaha, NE (LifeNews.com) -- Investment guru Warren Buffett says he will
donate the bulk of his fortune to the pro-abortion foundation set up by
Microsoft founder Bill Gates and his wife. That the world's second
richest man would leave about 80 percent of his estate to the Gates'
foundation is a huge concern for pro-life advocates because of the
groups it supports.
Buffett is the 75 year-old chairman and CEO of Berkshire Hathaway and
he told Fortune magazine he will begin making contributions to the Bill
and Melinda Gates foundation next month by giving it stock options in
the company.
According to an Associated Press report, Buffett will give the Gates
foundation 12,050,000 in Class B shares of Berkshire Hathaway. One
share of the stock sells for just over $3,000, and would give the Gates
foundation another $37 billion. It already has $29 billion, which makes
it the world's largest charity.
The donation causes huge concerns for pro-life advocates as the Gates
Foundation has given the Planned Parenthood Federation of America
abortion business almost $12.5 million since 1998, including funds to
persuade teenagers to support abortion and to lobby the United Nations
to advance pro-abortion proposals.
The Gates foundation has also given nearly $21 million to the
International Planned Parenthood abortion business over the last seven
years. The funds have gone to promote abortions in third-world nations
and to set up pro-abortion family planning centers in South America,
Africa and eastern European nations.
Bill Gates and his wife have also spent millions promoting abortion
closer to home.
Their foundation has given nearly $2 million to Planned Parenthood of
Central Washington and Planned Parenthood of Western Washington to fund
abortion centers. The Gates Foundation also gave the Planned Parenthood
Federation of Canada more than $1.3 million to promote abortions there.
"The tragedy of Bill Gates' support of abortion and population control
is that technology leads to development," says Steven Mosher, President
of the Population Research Institute.
"Unfortunately, the developing world will grow old before it develops
because of population control. Gates, in supporting population control,
is out of step with other great minds who have viewed people as
humanity's greatest resource," Mosher said.
Mosher's group, at Microsoft's 2003 annual shareholders meeting, failed
to win approval for a motion to stop Microsoft from directly
contributing to charities, citing its support for Planned Parenthood.
Buffett's decision surprises some, as he was expected to leave his
fortune to his wife's foundation -- the Susan Thompson Buffett
foundation that she founded.
Buffett told Fortune it was easier to give his money to a large
existing foundation rather than try to build his own.
"What can be more logical, in whatever you want done, than finding
someone better equipped than you are to do it?'' Buffett said. "Who
wouldn't select Tiger Woods to take his place in a high-stakes golf
game? That's how I feel about this decision about my money.''
Gates, who recently stepped down as the head of Microsoft to focus on
the foundation, and Buffett are long-time friends and Gates serves as a
board member of Berkshire Hathaway.
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