So why write about Warren Buffett… read on, this is not what you think!

After 13 years on top, Bill Gates is no longer the richest man in the world. That honour now belongs to his friend and sometimes bridge partner Warren Buffett.

Riding the surging price of Berkshire Hathaway stock, Buffett has seen his fortune swell to an estimated $62 billion, up $10 billion from a year ago.

Gates is now worth $58 billion and is ranked third richest in the world. He is up $2 billion from a year ago, but would have been as rich or richer than Buffett, had Microsoft not made an unsolicited bid for Yahoo! at the beginning of February. Mexican telecom mogul Carlos Slim Helú now ranks as the world’s second richest person with a net worth of $60 billion.

The son of a Nebraska politician, Buffett delivered newspapers as a boy. He filed his first tax return at age 13, claiming a $35 deduction for his bicycle. He moved on to study under value investing guru Benjamin Graham at Columbia University.

Buffett began buying shares in textile firm Berkshire Hathaway in 1962 and purchased a controlling stake in 1965. He began buying insurance companies and astutely investing those companies’ cash reserves.

Despite Buffett’s meteoric rise, his days as the World’s Richest Man are almost certainly numbered. He had long promised to give away his fortune posthumously. But in the summer of 2006 he irrevocably earmarked the majority of his Berkshire shares to charity, most going to the Bill & Melinda Gates Foundation

At the time, the gift was valued at $31 billion. However, assuming that Berkshire shares continue to rise, the final amount of the donation will far exceed that sum. Buffett gives 5% of his shares to charity every July.

This is what impresses me about these Billionaires (Gates and Buffett), they pretty much want to give it all away, they have so much, they can afford to certainly, but their humanity is worthy to note. I read Buffett still lives in the same house he’s lived in for years and only pays himself a measly $100,000 a year, just incredible hey!

The parable of the widows mite is no less acceptable for us mere peasants by comparison to these billionaires! We can give generously to those causes that make a difference. Gates and Buffett’s philanthropic generosity is an example to us all.

You must watch this… an exclusive conversation with Warren Buffett, Bill and Melinda Gates - a new age in philanthropy, how to give away $30+ billion and importantly - why!

This video above was two years ago. Now this week Bill Gates left his office as planned from Microsoft and today now full time works tirelessly for the Bill and Melinda Gates Foundation, using the wealth of people like Warren Buffett to create a legacy of greater worth to the world than Microsoft as I heard Bill comment this week.  What will your legacy be? How will you be remembered? How would you like to be remembered? There are many who think and say in a manner of speaking… eat, drink, and be merry, for tomorrow we die. That’s the philosphy of many in the world, but certainly there are reasuringly those who would wish to make a difference and do a little good.

We’ve been an advocate for the humanitarian work done by our church. So offering a little something, knowing 100% of our contributions is used for the worthy work done by these unpaid volunteeers. Some good friends return shortly from serving a humanitarian mission for the church and many more are sent throughout the world.

If we would all look a little further than our own self interests, having seen real poverty face to face in parts of the world seamingly unforgotten, we need to care, don’t ignore the attrocities and hardships seen on our news channels. The reality is, it’s not just the Buffett and Gates of this world that can make a difference it’s all of us in so many ways, remember just as the widows mite.

Your friend, John Deighton
My other web site!