Warren Buffett gives away $4.6B in BRK.B shares to five charities
As part of his annual philanthropic pledge made almost two decades ago, Warren Buffett donated around $4.64B of Berkshire Hathaway Class B (NYSE:BRK.B) shares to five charities with the most going to the Bill & Melinda Gates Foundation Trust, according to a recent statement.
“The five foundations have received Berkshire B (BRK.B) shares that had a value when received of about $50 billion, substantially more than my entire net worth in 2006,” the 92-year-old investing legend said. The donations were delivered Tuesday, when BRK.B closed at $338.61 per share.
“I have no debts and my remaining A shares are worth about $112 billion, well over 99% of my net worth,” he added. Buffett's Berkshire stake now consists of 218,287 Class A (NYSE:BRK.A) shares and 344 Class B shares (BRK.B).
The Susan Thompson Buffett Foundation, Sherwood Foundation, Howard G. Buffett Foundation and NoVo Foundation were included in this year's donation.
Buffett attributed several factors to his wealth, including "a very long runway, simple and generally sound decisions, the American tailwind and compounding effects."
He added that his will provides for over 99% of his estate to be used for philanthropic activities.
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Source: Seeking Alpha
