Following last week’s announcement that Bill Gates is (slowly) retiring from Microsoft to focus on his foundation, comes news that Warren Buffett is giving away about 85% of his net worth (roughly $37 billion at current prices) to charity.

That’s cool, and slightly newsworthy (he had originally planned to donate his fortune upon his death, not earlier).

But what’s really interesting is that he’s giving 5/6 of the money to:

Bill and Melinda Gates’ Foundation.

I’ve followed a bit of what the Gates Foundation is doing, and I’m pretty impressed. Obviously, Buffett is, too. Most super-rich in Buffett’s position would want to form their own foundation, with their own name, for ego purposes. That Buffett is willing and able to put his money into someone else’s foundation is cool. And pretty smart too. Buffett is 75, Bill Gates is 50 – Buffett obviously trusts that Bill (and Melinda) will be solid managers long after he is gone.

Bravo Mr. Buffett.

(Original Slashdot blurb, which linked to longer CNN story)

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