Warren Buffett ‘Invests’ in Charity’s ‘IPO’

Warren Buffett bought the first share of fund-raising stock being offered by Homeward Bound of Marin, a charity in San Rafael, Calif., that serves homeless people, according to the group’s press release.

The “IPO” stands not for “Initial Public Offering” but for “Immediate Public Opportunity,” Homeward Bound says. It is offering up to 200,000 shares at $32 each.

Sales of shares will support Homeward Bound’s campaign to build affordable housing and offer job training for the homeless.

Mary Kay Sweeney, the charity’s executive director, says, “Shareholders will see how returns on investments in people can be just as satisfying and long-lasting as investments in innovative companies that have the opportunity to change the world.”

Read more about Mr. Buffett’s giving in The Chronicle of Philanthropy.

(A paid subscription or short-term pass is required to view the Chronicle article.)