Billionaire Warren Buffett gives money, advice to Nuclear Threat Initiative

OMAHA, NEBRASKA - Billionaire investor Warren Buffett, the country&#39;s second wealthiest man, is pledging $2.5 million to help reduce the risk of nuclear terror on U.S. soil. <br> <br> Buffet said Friday that he was making the contribution to the Nuclear Threat Initiative, founded by Ted Turner and former Sen. Sam Nunn, because he believes terrorists want to attack America with weapons of mass destruction. <br> <br> ``We must be realistic. You know there are people who wish us ill in the world. The question is whether they have the ability to carry it out,&#39;&#39; he said. <br> <br> Buffett, chairman of the Omaha-based investment firm Berkshire Hathaway and No. 2 behind Microsoft co-founder Bill Gates on Forbes magazine&#39;s list of wealthiest Americans, said that while terrorism cannot be eradicated completely, its risk can be significantly reduced. <br> <br> ``We have got to move that risk to as close to zero as possible,&#39;&#39; he said. <br> <br> The Nuclear Threat Initiative has been left strapped for cash by a dramatic decline in the stock market. It was founded two years ago with a pledge of stock worth $250 million at the time that Turner held in AOL Time Warner. The shares have since declined by nearly 80 percent. <br> <br> ``Up until now, we have basically been using Ted&#39;s money,&#39;&#39; Nunn said. ``Having Mr. Buffett sign on is a signal that a lot of people will respect and will pave the way for us to have more meaningful support.&#39;&#39; <br> <br> The group has spent about $37 million since January 2001 on projects including securing nuclear materials stored in Russia and removing uranium from a poorly secured reactor in Belgrade.