A Nebraska non-profit is set to get a big payday thanks to a decade-old bet from the Oracle of Omaha himself.
Girls Inc., in the Benson area, was selected as the group to benefit from a million-dollar bet.
It all started back in 2007. Warren Buffett bet an asset manager, saying an S&P 500 stock fund would outperform several hedge funds over a 10-year period. Turns out he was right.
Girls Inc. is thrilled about the donation.
According to Roberta Wilhelm from Girls Inc., "It's hard to describe when a gift that large sort of happens to your organization. It's wonderful, and the anticipation built over 10 years made it even more special."
The bonds that were used to make the bet matured much faster than expected. That means Girls Inc.could be due for closer to two million dollars.
They plan to use the money for housing for girls who age out of the foster care system.