A tied gift

Investors don’t care for Warren Buffett’s largesse. They initially greeted the Nebraskan investor’s $31bn gift to the Gates Foundation by wiping $1bn off its value. Although Berkshire Hathaway’s stock later rebounded, the downturn raised the question of whether the world’s largest charity should have half of its assets tied up in a single company. With Buffett loath to change the status quo at Berkshire, that may not be in the best interest of the Gates Foundation or, indeed, of Berkshire shareh...