In 2007, Warren Buffett made a $1 million bet that the S&P 500 stock index fund would outperform hedge funds picked by Protege Partners over 10 years.
Buffett won, and that win benefits Girls Inc. Omaha, an organization that inspires girls to create a vision for a bright and healthy future.
According to the Wall Street Journal, Girls Inc. will actually receive more than the original $1 million. The money from the bet was put into $320,000 worth of bonds, which appreciated faster than expected, so Berkshire B shares became part of the bet. Those shares are now worth $2.2 million.