NEW YORK (Reuters) - Billionaire investor Warren Buffett is donating a total of $37 billion -- most of his personal fortune -- to a foundation started by Microsoft Chairman Bill Gates and to several family foundations, making it the largest-ever individual charitable gift in the United States. Buffett, 75, is the chief executive of investment firm Berkshire Hathaway. He is worth an estimated $44 billion, according to Forbes magazine, making him the second-richest man behind Gates, who is worth about $50 billion. The $37 billion comprises about 85 percent of Buffett's fortune.

Wow. First Bill Gates and now Warren Buffet. Looks like the hottest Rich-Man trend is giving away a ton of money. I had written previously that Bill Gates was quitting Microsoft to head up his charity. I'd like to know where exactly all of this money is going--not that it's any of my business at all. I would like to know what kind of impact $1.5b has any organization. I've always thought that "not having enough money" was not a justifiable excuse for the world having some of its issues. I guess I don't see how not finding cures for major diseases and writing them off as not cost effecitve is an acceptable answer. Anyway, kudos to Mr. Gates and Mr. Buffet for doing the right thing.