NEW YORK (AFX) - Warren Buffett, the world's second-richest man, plans to give away 85 pct of his fortune of more than 40 bln usd to charity including one run by Bill Gates, the wealthiest man on the planet, Fortune magazine reported Sunday.
Buffett, 75, pledged in an interview with Fortune to give away 85 pct of his stock in his Berkshire Hathaway investment firm starting in July.
'I know what I want to do,' he was quoted as saying, 'and it makes sense to get going.'
The shares will go to five foundations. More than 80 pct will go to the Bill and Melinda Gates Foundation which already has a kitty of about 30 bln usd used to pay for medical research and give educational grants.
Buffett and the Gates' are close friends. According to Fortune, Buffett plans to eventually become a trustee of the Gates foundation.
Fortune magazine estimated earlier this year that Buffett has a fortune of about 44 bln usd. Gates has about 50 bln usd. newsdesk@afxnews.com afp/ak COPYRIGHT Copyright AFX News Limited 2005. All rights reserved. The copying, republication or redistribution of AFX News Content, including by framing or similar means, is expressly prohibited without the prior written consent of AFX News. AFX News and AFX Financial News Logo are registered trademarks of AFX News Limited