Warren Buffett, Berkshire Hathaway

Warren Buffett, chairman of Berkshire Hathaway (NYSE: BRK.A) (NYSE:BRK.A) once again donated a huge amount of money to charity. This year, the billionaire investor gave $2.8 billion to five foundations. Last year, the billionaire investor gave away 21.7 million shares.

Buffett is the fourth wealthiest man worldwide. His fortune is estimated to be around $67.4 billion based on Bloomberg’s Billionaire Index.

Recipients of Buffett’s donation

Buffett donated 20,640,653 Class B shares of Berkshire Hathaway to the Bill and Melinda Gates Foundation and to the foundations run by his children—the Susan Thompson Buffett foundation, the Sherwood Foundation, Howard G. Buffett Foundation and the NoVo Foundations.

Based on the closing price of the Class B shares of Berkshire Hathaway last Thursday, Buffett’s donation has a market value of more than $28 billion. Today, the Class B shares of the company closed $136.46. Its closing price on Thursday was $137.39 per share.

According to Berkshire Hathaway, under the terms of the donation, the foundations are required to spend Buffett’s gift for current operations and should not be added to endowment funds.

He announced his intention to gradually give away all of his shares in Berkshire Hathaway in 2006. At the time, Buffett said “I know what I want to do.” He decided to start giving away 85% of his wealth in July that year, primarily to the Bill and Melinda Gates Foundation, the world’s largest philanthropic organization.

Bill Gates, founder of Microsoft Corporation (NASDAQ: MSFT) and his wife Melinda, are close friends of Buffett. Their foundation is focused on education and world health.

“I greatly admire what the Bill & Melinda Gates Foundation (“BMG”) is accomplishing and want to materially expand its future capabilities,” wrote Buffett in his letter in 2006. He emphasized that his commitment of annual gifts to the foundation was irrevocable.

Buffett and Gates established the Giving Pledge

Buffett together with Gates established the Giving Pledge, which encourages the wealthiest individuals and families around the world to donate majority of their wealth to charity.

Buffett promised to donate 99.9% of his fortune to charity. His lifetime donations to charity are now more than $25.5 billion.

3 COMMENTS

  1. the only prick here is you asshole like you look for opportunity to insults other thinking your smarter yes other country r far worst and other country r far better aannnd ur an ass u want to educate do it without insult u don’t know me

  2. You’re the only dumb one here, buddy. $2 billion split between all Americans is barely enough to buy you a Starbucks coffee. I guess math just isn’t your strong suit. Also, stop being such a selfish prick. Be happy you live in America, because no matter how.poor you are in this country, there are people in other countries with far less, and due to no fault of their own.

  3. Some times I say why Guys like Bill Gates with all the money they have give one million to every American with one term each buy a microsoft computer for $1000 He would get that back and plus some would fix the economy of this country and every one has one chance to fix their life with one hundred billion that he has this country do not have 2 billion people. Government don’t get tax cause it’s a gift criminal drunk also should not get this money just hard working people who are trying can’t understand. These lame asses gives it to the dogs that can’t speak and dumb foundation.

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