Notes on Charlie Rose Show’s Warren Buffett: The Gift

Today, I’ll share my notes on the final part of Charlie Rose’s special on Warren Buffett. If you haven’t seen my notes on the other two segments, Warren Buffett: The Man and Warren Buffett: The Business, I encourage you to review them now. This final segment, Warren Buffett: The Gift (click to see the video), focuses on Warren Buffett’s recent announcement to donate $44 billion of his Berkshire Hathaway (BRKa) fortune.  My notes are as follows:

  • Bill Gates was surprised by Warren’s selection of the Bill and Melinda Gates Foundation.
  • Buffett first mentioned his thoughts about the donation to the foundation a year and a half ago to Gates.
  • Warren and Susan always planned to give his money back to society.
  • “How can we do the most good for the most people, and particularly the people that had gotten the short straws in life.”
  • Bill Gates originally met Buffett through his mom. 
    • Gates didn’t really want to meet Buffett. 
    • He didn’t really think they would have anything to talk about.
  • Buffett and Gates now always have a good time together.
  • They play bridge and golf.
  • Buffett thinks Gate’s foundation is the best run in the word.
  • Gates has read the Intelligent Investor by Ben Graham.
  • Buffett can not look out ten years with technology companies with the same confidence as with other companies.
  • Change is not so wonderful for investors.
  • Buffett discussed the Solomon crisis and how he got the Secretary of the Treasury to change an order with his integrity and direct communication on a Sunday.
  • He gave Tom Murphy voting rights without telling him.
  • Bill impressed at how Warren is really having fun.
  • Bill talked with Warren about Microsoft’s legal problems. [I wonder if this exposes Buffett to potentially have to testify against Gates.]
  • Bill Gates bought his wedding ring in Omaha with Melinda and Warren at Borsheim’s.
  • Bill identified the greatest inequity as the lack of medical care for children.
  • Gates has known Buffett since 1991.
  • High compounders should wait to donate according to Buffett. [I should use that line next time someone asks me to donate for a cause at work, hehe.]
  • Warren is working to make his Berkshire Hathaway shares worth more to be able to give more value.
  • Compares his partnership with Charlie with Bill and Melinda Gates partnership.
  • Warren Buffett talked to Charlie Munger about his donation.  Charlie told him, “You finally had a good idea.”
  • The market system does not always solve the problem and that’s when we should intervene.
  • He would give up two years at the end to be an observer in the stands for the next 40 years.

This concludes my notes on the three part Charlie Rose Show special series on Warren Buffett.  I hope you enjoyed it was much as I did.  I always learn something new from each opportunity I get to listen to Warren Buffett.

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