The latest donation of around 12.36 million Berkshire shares has increased Warren Buffett’s total contribution to charitable purposes to well over $ 60 billion. Who benefits.
• Warren Buffett again donates Berkshire shares to billions
• Total donation volume exceeds $ 60 billion
• Future management of the foundation should go to Buffett’s children
On Friday, Warren Buffett donated another $ 6 billion to Berkshire Hathaway shares to the Gates Foundation and four family aid organizations. This is his greatest annual donation since he started giving away his fortune almost two decades ago.
With the donation of around 12.36 million Berkshire shares in class B, Buffett’s total donation increased to the charity organizations to well over $ 60 billion.
Much of this donation, namely 9.43 million stocks, went to the Gates Foundation. The Susan Thompson Buffett Foundation received 943,384 shares. 660,366 shares were distributed to the three foundations of his children: the Howard G. Buffett Foundation (headed by Howard), the Sherwood Foundation (led by Susie) and the Novo Foundation (led by Peter).
Buffett’s assets
According to his latest donations, Warren Buffett, whose net assets were $ 152 billion before the transactions, and made him the five -day person in the world, is expected to fall back to sixth place. This current donation exceeds the $ 5.3 billion, which he donated in June of the past year, and complements the $ 1.14 billion, which he donated to his family’s foundations in November of the same year.
Buffett’s intentions and the beginning of philanthropy
Despite these significant grants, Buffett still holds 13.8 percent of the outstanding Berkshire shares and has emphasized in a statement that he has no intention to sell them. The 94-year-old investor started distributing his assets in 2006 and changed his will last year to ensure that 99.5 percent of his remaining assets benefit after his death from a non-profit foundation that is managed by his children.
Editor finance.net
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