Dr. Atul Gawande, the newly chosen CEO of the Amazon, J.P. Morgan and Berkshire Hathaway joint health-care enterprise, was as soon as given $20,000 by Warren Buffett’s longtime investing accomplice Charlie Munger.
Buffett, chairman and CEO of Berkshire Hathaway, made that revelation on CNBC’s “Squawk Field” again in 2010.
On the time, Buffett stated that Munger wrote a examine after Gawande printed an article in The New Yorker on excessive U.S. medical prices.
“[Munger] by no means met him, by no means had any correspondence with it,” Buffett instructed CNBC’s Becky Fast in March 2010. “[Munger] simply mailed it to The New Yorker and he stated, `This text is so helpful socially,’ he says, ‘Simply give this as a present to the — to Dr. Gawande.'”
The article that caught Munger’s eye was a 2009 story, “The Value Conundrum.”
Gawande, who has been a employees author at The New Yorker since 1998, explored why two totally different cities in Texas that had comparable demographics had enormous variances of their health-care spending. He discovered the first trigger for the acute prices in a single city was “across-the-board overuse of medication.”
“People prefer to consider that, with most issues, extra is healthier. However analysis means that the place drugs is worried it could truly be worse,” Gawande wrote in The New Yorker article.
“Spending on docs, hospitals, medication, and the like now consumes a couple of of each six we earn.” He continued, “The monetary burden has broken the worldwide competitiveness of American companies and bankrupted tens of millions of households, even these with insurance coverage.”
In line with the Huffington Put up, Gawande didn’t take the cash from Munger and as a substitute accepted it as a donation to the Brigham and Girls’s Hospital, the place he practices as a surgeon.
CNBC has reached out to Gawande for remark.
Gawande will formally start in his new position with the Amazon, J.P. Morgan and Berkshire enterprise subsequent month, the three firms introduced on Wednesday.
He is not going to quit his positions at Harvard or Brigham and Girls’s Hospital and can maintain writing, together with for The New Yorker.
Supply hyperlink – https://www.cnbc.com/2018/06/20/charlie-munger-once-wrote-atul-gawande-a-check-for-20000.html