Warren Buffett donated another $6 billion worth of Berkshire Hathaway stock on Friday to the Gates Foundation and four family charities, marking his largest annual contribution since he began giving away his fortune nearly two decades ago.
The 94-year-old billionaire donated approximately 12.36 million Berkshire Class B shares, pushing his total giving to these charities well beyond $60 billion.
Buffett distributed 9.43 million shares to the Gates Foundation and 943,384 shares to the Susan Thompson Buffett Foundation. Additionally, he allocated 660,366 shares to each of three charities that his children lead: the Howard G. Buffett Foundation, the Sherwood Foundation and the NoVo Foundation.
Notably, Buffett still owns 13.8% of Berkshire’s stock, based on outstanding shares. His $152 billion net worth prior to Friday’s donations ranked him as the world’s fifth-richest person, according to Forbes magazine.
The donations will likely drop Buffett to sixth place, surpassing the $5.3 billion he donated last June. He had previously contributed another $1.14 billion to the family charities last November.
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In a statement, Buffett confirmed he does not intend to sell any Berkshire shares.
The legendary investor began his philanthropic journey in 2006. Last year, he modified his will to designate 99.5% of his remaining fortune after his death to a charitable trust that his children will oversee.
His three children — Susie, 71, Howard, 70, and Peter, 67 — will have approximately a decade to distribute the money and must reach unanimous decisions about where it goes.
Buffett has led the Omaha, Nebraska-based Berkshire since 1965. The $1.05 trillion conglomerate owns nearly 200 businesses, including Geico car insurance and the BNSF railroad, while holding dozens of stocks, including Apple and American Express.
The beneficiary charities focus on a range of diverse causes. Susie Buffett leads the Susan Thompson Buffett Foundation, which funds reproductive health programmes and honours her mother, Warren Buffett’s first wife.
Meanwhile, the Sherwood Foundation supports Nebraska nonprofits and early childhood education. The Howard G. Buffett Foundation addresses global hunger, human trafficking, and conflict mitigation, while the NoVo Foundation advocates for marginalised girls and women, as well as indigenous communities.
