The morning papers and networks lead with the story of Warren Buffet's decision to give away 85% of his wealth ($37+ billion) beginning in July. The story first appeared yesterday in a Fortune Magazine exclusive by Carol J. Loomis, FORTUNE's Editor-At-Large. In an interview with Ms. Loomis, Buffet tells how and why he arrived at his decision — including why most of the wealth of the world's second richest man will go to the foundation set up by the world's most wealthy man–The Bill and Melinda Gates Foundation.

Check out the Fortune story and the sidebar pieces to this main story for a fascinating look at this thoughtful and remarkable process. And, take a moment to see the most thoughtful and moving acknowledgement by Bill and Melinda Gates at their foundation's website.

How does the Buffet gift compare with those of other philanthropic legends? In today's dollars Andrew Carnegie give $7.2 billion over a 17 year period; John D. Rockefeller $7.1 billion over a 38 year period and John D. Rockefeller, Jr. $5.5 billion over a span of 33 years.

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