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.