Philantropy

Warren Buffett, CEO of Berkshire Hathaway, announced yesterday that he will be donating a whopping 85% of his $44 billion fortune to not-for-profit organisations, with a big chunk of that going to the Bill and Melinda Gates Foundation. That's $37 billion...and that's friggin impressive!

What's impressive is not only the amount, but also the fact that this man is actually doing something useful with the fortune he has amassed. In a world plagued by corrupt CEOs and doctored numbers, Buffett is a breath of fresh air.

Not that I know much about the guy, but this self-made billionaire has kept a down-to-earth lifestyle: he still lives in the same house in Omaha he bought in 1958 for $31,500 and his annual chairman's salary from Berkshire Hathaway is just $100,000.

I had recently watched an episode of Oprah where she talked to young heirs, and she had Warren Buffett's granddaughter Nicole as one of her guests. Turns out Nicole's grandpa had paid for her education, but once she graduated college, she was on her own. So now she doesn't even have health insurance, and has to work for a living. And she respects her grandfather's decision to not give her or any of his grandchildren any money, based on the premise that everyone needs to work for what they get.

Way to go Warren. The world needs more people like you.