Charitable organizations the world over pricked up their ears this week as King of All Media Howard Stern praised billionaire investor Warren Buffett. Buffett — probably the world’s most famous investor — revealed that his company Berkshire Hathaway had recently made a sizable investment in SiriusXM, a major vote of confidence for the satellite radio enterprise synonymous with Stern. Stern said he was “very excited” about Buffett’s investment, but not just because it was good for SiruisXM. Stern said he admired Buffett above all because of his charitable giving. Stern said:
“The reason I like [Buffett] is — from reading his book — he has amassed such wealth, you know so many billions, and he turned it all over to Bill Gates and his foundation and only wants that money to do good for people.”
Stern may not be on Buffett’s level financially, but the King of All Media is loaded. Stern is said to be worth nearly a half a billion dollars. That could fund any number of good deeds if, as Stern put it in his Buffett praise, he “only wants that money to do good for people.” Stern is SiriusXM’s biggest attraction, highest paid talent, and main driver of subscriptions, so he is obviously pleased that someone like Buffett just gave him a big pat on the back. But with his comments Stern hints that he’ll be a big charitable donor too, when his time comes. That’s what he admires. And if Buffett’s investment in SiriusXM is right — as he usually is — Stern could be giving away $1 billion.
