Another Buffett Makes Philanthropic Plans

Howard Buffett, Warren Buffett’s eldest son, says that his foundation, now valued at $130-million, will soon be worth more than $1-billion, thanks to an infusion of stock from his late mother, Susan, and money from his father, reports the Chicago Tribune.

Warren Buffett announced last month that he plans to give $1-billion to the Howard G. Buffett Foundation, in Decatur, Ill., over the next 20 years. Howard Buffett said he plans to set a specific date by which he will disburse all the foundation’s assets, rather than operating it in perpetuity.

The foundation now gives about $7-million a year and primarily helps provides clean water and food to people in Africa.

With this new infusion of cash, Mr. Buffett said he is considering supporting groups that seek to reduce human trafficking and organizations that help children in the United States who face problems because of immigration-control efforts.