Yunus, Buffett honoured by Forbes
Left, Nobel laureate Muhammad Yunus and US billionaire Warren Buffett pose for photographs as they were honoured with lifetime achievement awards at the Forbes 400 Summit on Philanthropy in New York on June 5. Photo: GHI
Nobel laureate Muhammad Yunus and US billionaire investor Warren Buffett were honoured before the world's wealthiest business leaders at the second annual Forbes 400 Summit on Philanthropy in New York on June 5.
More than two hundred of the Forbes 400 billionaires gathered at the UN to recognise microcredit pioneer Dr Yunus and business tycoon Buffett with the lifetime achievement awards.
UN Secretary General Ban Ki-moon welcomed the billionaires and invited them to play a role in addressing global problems of poverty, poor health care and environmental issues, said a statement.
The gathering of the wealthiest people in the world was organised by Forbes magazine.
Steve Forbes, chairman of Forbes magazine, said the total wealth of the people in the room was about half a trillion dollars.
Yunus addressed the gathering to invite the richest businesses to be involved in social business, a concept he introduced to address social problems.
He also proposed that 10 percent of philanthropy money from each person attending the Summit could be invested each year in social business.
Other participants included Bill Gates, Bill Ackman, famous rock musician Bono, Ray Chambers, Paul Tudor Jones, Peter G Peterson, Stephen Schwartzman, and Jeff Skoll.
Dr Yunus addressed the plenary session along with eBay co-founder Jeff Skoll and Robin Hood founder Paul Tudor Jones.
Steve Forbes in his speech gave a glowing tribute to Dr Yunus before he presented the award for lifetime achievement to the social entrepreneur.
He called Yunus and his work “an extraordinary catalyst for reducing poverty …a remarkable, remarkable man… who has done so much in defining the best in human nature.”
Bono introduced Buffett before giving him the lifetime achievement award for philanthropy.
Buffett in his speech jokingly referred to Steve Forbes' announcement of Muhammad Yunus as Buffett's successor as the CEO of the famous investment company Berkshire Hathaway.
He said: "Well, tomorrow the Berkshire Hathaway stock will skyrocket because Muhammad Yunus has been announced as my successor by Steve Forbes. Even Bill Gates doesn't know that piece of information although he is on my board of directors."
All the high networth people of the world who assembled at the Summit gave a standing ovation to Prof Yunus and Buffett on receiving the awards.