Warren Buffett, the legendary investor and one of the world’s richest people, donated $6 billion worth of Berkshire Hathaway stock on Friday. This is his biggest yearly donation since he started giving away his wealth nearly 20 years ago.
Who Got the Donations?
Buffett donated about 12.36 million Berkshire Class B shares this time. Here’s how he divided them:
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9.43 million shares went to the Gates Foundation.
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943,384 shares went to the Susan Thompson Buffett Foundation, named after his first wife.
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660,366 shares each went to three charities run by his children:
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The Howard G. Buffett Foundation (run by his son Howard)
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The Sherwood Foundation (run by his daughter Susie)
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The NoVo Foundation (run by his son Peter)
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With this latest donation, Buffett’s total giving to these charities is now well over $60 billion. His generosity continues to inspire other billionaires who have pledged to give away most of their wealth.
How Much Wealth Does Buffett Still Have?
Before Friday’s donations, Buffett had a net worth of about $152 billion, making him the fifth-richest person in the world, according to Forbes. After this donation, he moved down one spot to sixth place.
Even after giving away billions, Buffett still owns 13.8% of Berkshire Hathaway, the company he has led since 1965.
What Does Buffett Plan for His Fortune After Death?
Buffett, now 94, changed his will last year. He plans to leave 99.5% of his remaining fortune to a charitable trust after his death. His three children – Susie (71), Howard (70), and Peter (67) – will manage this trust.
They will have about 10 years to distribute the money, and decisions on where the funds go must be made unanimously by all three.
More About His Children’s Foundations
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Susan Thompson Buffett Foundation: Supports reproductive health programs.
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Sherwood Foundation: Helps nonprofits in Nebraska and focuses on early childhood education.
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Howard G. Buffett Foundation: Works on global hunger, human trafficking, and conflict resolution.
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NoVo Foundation: Focuses on helping marginalized girls, women, and indigenous communities.
Buffett has said he will not sell any Berkshire shares during his lifetime. Last June, he mentioned that donations to the Gates Foundation would end after his death.
About Berkshire Hathaway
Under Buffett, Berkshire Hathaway has grown into a massive $1.05 trillion conglomerate. It owns nearly 200 businesses, including:
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Geico car insurance
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BNSF railroad
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Big stakes in companies like Apple and American Express
