Warren Buffet, a.k.a. the “Oracle of Omaha,” has become famous and extremely rich by making very successful investments through his company Berkshire Hathaway, which was a textile firm when he took it over in 1965. Today he owns controlling stakes in insurance companies like GEICO and General Re, utilities like MidAmerican Energy (MDPWK.PK), and food companies like Dairy Queen and See’s Candies, in addition to large stakes in Coca-Cola (KO), Wells Fargo (WFC) and various other companies. In 2008, he was listed as the world’s richest man with more than $60 billion. Berkshire Hathaway’s stock (BRK-A), has the most expensive share price in the world at around $100,000 a share, but lost a bunch of value since 2008, depleting Warren Buffet’s fortune by an astounding $25 billion in just a year. Poor guy only has about $37 billion left with which to scrape by!

Recently however, the famous investor is also a world-class philanthropist, dedicating 85% of his fortune to charity. Most of the money will be going to the Bill and Melinda Gates Foundation, which Bill Gates runs full time having left his job at Microsoft to devote himself to philanthropy. The rest will go to foundations headed by his three kids. He has said that whatever is left of his fortune will go to philanthropy when he dies, if not before. Even if his fortune weren’t to increase in value at all before that time, those $37 billion dollars would be the largest philanthropic contribution in history. Warren Buffet and Bill Gates provide outstanding examples of all the good that can be accomplished when accomplished people dedicate their time and resources to helping others.

Tags: Berkshire Hathaway, Warren Buffet