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.

By Benzinga Dec 26, 2013 4:48PM

File photo of Warren Buffett on the NBC News' 'Today' show on November 27, 2012 (© Peter Kramer/NBC/NBC NewsWire via Getty Images)By Bruce Kennedy


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

543Comments
Dec 26, 2013 5:55PM
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Now how about donating to an American hospital. Say St. Jude's children's hospital.......just one of thousands.

Dec 26, 2013 6:01PM
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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....

Dec 26, 2013 5:55PM
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A person gives away $10 million dollars, and people still pile on as haters....Get a Life.
Dec 26, 2013 5:04PM
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I think that is wonderful...no one has to give, it is a matter of the heart to choose to give.
Dec 26, 2013 5:53PM
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Good for you Warren. Keep up the good work.
Dec 26, 2013 5:47PM
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Thats very kind and generous. Thank you Mr. Buffett.
Dec 26, 2013 6:01PM
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I think it was very generous for Warren to donate that money.  Its not how little of an affect it has on Warrens pocketbook, it is how large of an affect it can have for the hospital.  And 10 mil is still a lot of scratch now matter who you are.     
Dec 26, 2013 6:08PM
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I like Mr. Buffett, he is a very smart investor, he is generous and his gift is wonderful.  Those who make detrimental comments, shame on you.  Also, the headline and content of the article is also shameful.  It is well known Mr. Buffett will leave a majority of his wealth to charities.  Good for him he makes multi millions each day.  Our Washington leaders would do wise to seek his guidance on shedding debt and stealing from our future generations. 
Dec 26, 2013 5:57PM
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I think he does donate to St. Jude's, through his daughter or other Foundations.
Dec 26, 2013 6:13PM
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Whenever anybody gives to the needy, wether it's a hospital, charities, or even a individual, it's always a good thing, no matter how much they give.

Dec 26, 2013 6:13PM
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QUOTE:

"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.

Dec 26, 2013 6:13PM
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Some sad jealous people on here, do some research on how much this man gives away all over the world. I don't care if he make a billion a day he doesn't owe anyone anything and no I'm not rich, just a hard working refinery worker that makes a good living. Keep dividing this country by blaming one side or the other, there should not be liberals or conservatives, just Americans who do the right thing. Give it a rest and get off your butt and make yourself better. Damn, the man gives away money and people still complain.
Dec 26, 2013 5:58PM
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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.






 

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Warren Buffet's Annual salary for being CEO of Berkshire Hathaway is only $100,000 per year. The rest of what he "makes" is income off of his investments.  Get your facts straight MSN.  He is one of the most underpaid CEO's in the world.  (by the way, that is just how Mr. Buffet wants it.)  He is a true philanthropist, and you guys skew the article to make him look cheap.  Shame on you MSN.  Get a clue.
Dec 26, 2013 5:42PM
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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.

Dec 26, 2013 6:12PM
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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

Dec 26, 2013 5:58PM
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Agreed somersetky. I'm sure he doesn't waste his time reading MSN post.


Dec 26, 2013 6:53PM
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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. 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Dec 26, 2013 6:04PM
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I'm glad to see that donation, but maybe, just maybe he could have "kept" that money here and put some of the people if the U.S. back to work. Nobody is thinking of the U.S. first anymore and because of that we are digging our own grave.
Dec 26, 2013 6:13PM
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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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