Buffett's Christmas gift: $10 million to a hospital
The billionaire investor made the donation to a facility in Israel. For him, the gift amounted to less than a day's pay.
Here's an example of what a Christmas present from Warren Buffett can look like.
On Wednesday, the billionaire investor donated what, for him, amounted to part of a day's salary to an Israeli hospital.
The "Oracle of Omaha" presented Haifa's Rambam Hospital with $10 million in honor of the facility's 75th anniversary. Given that Buffett reportedly made around $37 million every 24 hours this year, that $10 million is about what he makes in seven hours.
According to Globes, the Israeli business news website, the donation was announced by Eitan Wertheimer, who sold an 80 percent share of his family's Iscar Metalworking Company to Buffett's Berkshire Hathaway (BRK.B) in 2006 for $4 billion. At the time, it reportedly was Berkshire's largest foreign investment in an Israeli firm.
The Wall Street Journal said Buffett's preliminary acquisition in Iscar was seen as a "seminal transaction symbolizing a vote of confidence in the country's economy and its geopolitical stability by a celebrated investor know for conservatism."
This past May, Berkshire purchased the company's remaining 20 percent for $2.05 billion. At the time, Wertheimer, who has been a close friend of Buffett's since the initial sale, told The Jerusalem Post he was pleased IMC had found a "permanent home."
Berkshire Hathaway, he continued, "fully appreciates the unique nature of the global Israeli enterprise that we have created, and that is committed to remaining true to that heritage in every way, building on and continuing our historic success and special culture."
And Buffett has built on IMC as well. The Journal reports the company has expanded its facilities and product line internationally and now employs around 12,000 people, more than double the amount it had in 2006.
Read more from Benzinga
Now how about donating to an American hospital. Say St. Jude's children's hospital.......just one of thousands.
Know before you post.
Mr. Buffett donates a lot to charities.
This was a single donation to one recipient.
The man has donated approximately $6.6 BILLION so far....
"For him, the gift amounted to less than a day's pay."
What kind of idiotic insult was that? Why on earth would the originator(s) and the author of this story stoop so low to put that as the lead-in to this story? I hope the "powers to be" fire the lot of you.
TO THE WRITER AND EDITIOR OF THIS PIECE:
It's not PAY folks. It's what the man earns through his investments.
What you got to write and supposedly edit this nonsense is "pay."
And for not knowing the difference I don't think you earned what you got paid.
my GOD people he gives nothing he's an ****. He gives 10 million he's and **** because he didn't give enough.
If I were him reading these comments I'd probably just say screw it and give nothing and buy myself a new yacht for the next 10mil.
Happy Holidays Mr. Buffett. Hope Santa treated you well. You ARE the gift who keeps on giving. A true Man of Humanity. God Bless you and yours for your continued good health and happiness. Gigi
Warren Buffet is the most successful investor in history, and he only invests in companies he plans to grow. He never buys anything to break it up. He has made thousands of other people rich and has already given away most of his wealth thru the Bill and Malinda Gates Foundation. He still lives in the modest home in Omaha that he and his family moved into 40 years ago. He is unpretentious, intelligent and generous. If you have a problem with him, I have a problem with you.
Sure, that's a noble thing to do.......but why don't some of these so called celebs donate to American causes ??
Oprah donates to Africa , many others outside of the country donations but they get made rich off the citizens of the usa ?? Doesn't anybody get it ??
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