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Warren E. Buffett, chairman and chief executive officer of Berkshire Hathaway, which is the parent of GEICO Corp., has announced he will donate the bulk of his shares in the company to the Bill & Melinda Gates Foundation (BMG).

In a “Dear Bill and Melinda” letter, dated Friday, Mr. Buffett said he admires the work of their foundation and wants to help expand their activities. He plans to give BMG about $31 billion of his $44 billion fortune.

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