Buffett donates $50m in fight against nuclear weapons

Warren Buffett has pledged $50m to the creation of a UN nuclear fuel bank, keeping a promise the Sage of Omaha made back in 2006.

Four years ago Buffett and the Nuclear Threat Initiative offered the money if the UN's International Atomic Energy Agency could raise another $100m from countries all over the world.

The nuclear fuel bank aims to serve as a source of reactor fuel for power plants, meaning countries will not have to make the fuel themselves. Uranium used for power plants can also be enriched to higher weapons-grade levels.

"The IAEA fuel bank is an investment in a safer world and an essential tool in reducing nuclear dangers," Buffett, the Berkshire Hathaway CEO, says.

"I believe that the fuel bank will help reduce the risk of enrichment proliferation globally. It will be a pleasure to write a check for funds that will help reduce global dangers."