Warren Buffett, the chairman and CEO of Berkshire Hathaway, has donated $5.3 billion worth of Berkshire stock to five charitable organizations, including the Bill & Melinda Gates Foundation and four family charities, marking his largest annual donation since he began his philanthropic campaign in 2006.
Mega donation
The donation comprises approximately 13 million Berkshire Class B shares, including 9.93 million shares allocated to the Gates Foundation, bringing Buffett’s total contributions to the foundation to over $43 billion, according to a statement released on Friday.
Additionally, the Susan Thompson Buffett Foundation, named after his late first wife, received 993,035 shares. Each of his three children’s charities—Howard G. Buffett Foundation, Sherwood Foundation, and NoVo Foundation—was granted 695,122 shares each.
Buffett’s donations have now reached a cumulative total of approximately $55 billion, noted the statement.
In addition to his contributions to the Gates Foundation, his family’s charitable foundations address various causes: the Susan Thompson Buffett Foundation focuses on reproductive health, the Howard G. Buffett Foundation tackles hunger and conflict mitigation, the Sherwood Foundation supports Nebraska nonprofits, and the NoVo Foundation advocates for initiatives benefiting girls and women, according to Reuters.
Buffett, now 93, has committed to giving away more than 99% of his fortune, with his children serving as executors of his will.
His philanthropy is facilitated through Berkshire, an $880 billion conglomerate that includes businesses like the BNSF railroad and Geico car insurance, and stocks such as Apple.
Despite donating more than half of his stock since 2006, Buffett still retains 14.5% of Berkshire’s outstanding shares, according to the statement.
Giving Pledge
Buffett, alongside Bill Gates and Melinda French Gates, also pioneered the Giving Pledge, a campaign encouraging the world’s wealthiest individuals to commit at least half of their fortunes to philanthropic efforts.
The pledge has seen participation from notable figures such as Sam Altman, Michael Bloomberg, Carl Icahn, Elon Musk, and Mark Zuckerberg.
Surprising fact
The recent regulatory filing suggests that Berkshire has made minimal or no stock repurchases since April 19, aligning with Buffett’s preference for deploying capital toward philanthropic causes over share buybacks.
Net worth
Buffett’s real-time net worth stands at $128.4 billion, according to Forbes estimates, making him the world’s 10th richest person.
