You may have heard today that Warren Buffett is giving away his billions to Bill Gates’s Foundation to give away. It amounts to about 3 billion a year at the current stock price which is pretty impressive. It looks like charitable giving is now back in style!
What I thought was truly impressive is that Buffett only draws a salary of $100,000 which is probably amongst the least of all publicly traded companies in the US. His wealth comes from his 38% ownership in Berkshire Hathaway and the money he’s been investing on his own which has probably done better than the approx 30% return that Berkshire has seen. So essentially he gets a performance incentive for managing the companies money!