Buffett gets philanthropy award at Forbes event

NEW YORK (AP) — Billionaire Warren Buffett’s giving is being recognized by a group of his fellow philanthropists.

Buffett received a lifetime achievement award in philanthropy Wednesday at a private discussion of philanthropy that Forbes magazine sponsored.

Not only has Buffett pledged to give away nearly all of his fortune, but Berkshire Hathaway’s chairman and CEO has also encouraged others with more than $1 billion to give away at least half their fortunes.

Video from the Forbes event (http://onforb.es/186UwKh) shows U2′s Bono singing a version of “Home Sweet Home” that he rewrote in tribute to Buffett.

In the song, Bono sings about how Buffett wants “No honors, no plaques, just a higher estate tax. Till his wealth is but a rich memory.”

Bono says Buffett’s advice and encouragement helped him in his own philanthropy.

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