Buffett’s donation to Gates reaches $8 billion
Billionaire investor Warren Buffett’s annual donation of Berkshire Hathaway stock to the Bill & Melinda Gates Foundation is expected to total about $1.6 billion this year, up 28 percent from last year, bringing to about $8 billion the total amount donated over the last five years, CNBC reported July 1 (see Buffett donation story).
Charities use business terms to lure wealthy donors
In an effort to attract wealthy donors, charities are beginning to heed the lessons of Wall Street, using business terms to frame their pitches and connecting donations to outcomes and social return-on-investment, Reuters reported July 1 (see wooing wealth donors story). Similar to venture capitalists, the new “philanthrocapitalists” aim to get the biggest “return” on their dollar.