By The Akron Beacon Journal, Ohio
Jun. 30--Warren Buffett's $31 billion donation this week to the Bill and Melinda Gates Foundation is the gift to dwarf all gifts. Announcing that he was handing over the bulk of his estimated $44 billion wealth to the philantropic foundation, Buffett applied a guiding principle of his business life. Fifty years ago, he said, seven people gave him $105,000 to manage because they believed he could do a better job of amassing wealth for them than they could for themselves. 'And 50 years after that, I sat down and thought about who could do a better job dispersing wealth than myself.' The Gateses and their foundation fit the bill for the billionaire founder of Berkshire Hathaway, the insurance and investment company. The choice couldn't be more inspiring."