Warren Buffett donates $6 billion worth of Berkshire Hathaway stock to five charitable foundations. This donation adds to the roughly $60 billion he has given to these groups since 2006. Buffett made the announcement on Friday, saying the shares will transfer early next week.
The donation consists of nearly 12.4 million Class B Berkshire Hathaway shares. These shares have a lower price than the company’s original Class A shares, making them easier to handle. The shares were valued at about $485.68 each at the close of trading on Friday.
The largest portion of the donation will go to the Bill & Melinda Gates Foundation Trust, which will receive around 9.4 million shares. Other foundations receiving stock include the Susan Thompson Buffett Foundation with 943,384 shares, and the Sherwood Foundation, Howard G. Buffett Foundation, and NoVo Foundation, each receiving about 660,366 shares.
Over the years, Warren Buffett donates consistently to these organizations, supporting causes ranging from global health to education. His contributions have helped alleviate poverty and improve lives worldwide. However, Buffett has said he plans to use nearly all of his estate for philanthropic purposes.
Berkshire Hathaway’s Class B shares have increased about 19.1% over the past year, outperforming the broader U.S. stock market. Buffett’s conservative investment approach has helped him build a fortune estimated at $145 billion, mostly held in Berkshire Hathaway stock.
Recently, Buffett stated he plans to end donations to the Bill & Melinda Gates Foundation after his death, allowing his children to decide how to allocate the rest of his fortune. Nevertheless, his commitment to philanthropy remains strong.
Overall, this latest $6 billion donation underscores Buffett’s ongoing dedication to charitable giving. His actions continue to make a significant impact on important causes around the world and inspire others to give.
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