Desk Report: Legendary investor Warren Buffett has made his largest annual charitable contribution yet, donating an additional $6 billion worth of Berkshire Hathaway shares.
This substantial gift, announced last Friday, went to the Gates Foundation and four family charities, marking nearly two decades since he began giving away his immense wealth.
This brings his total philanthropic contributions to an astonishing over $60 billion, solidifying his position as one of history’s most generous philanthropists.
The bulk of the recent donation, 9.43 million shares, went to the Gates Foundation. An additional 943,384 shares were given to the Susan Thompson Buffett Foundation. Even after this record-breaking gift, Buffett still retains ownership of 13.8% of Berkshire Hathaway’s total shares.
Before last Friday’s donation, Buffett’s net worth stood at $152 billion, placing him as the fifth richest person globally on Forbes’ list. This latest contribution will see him move to the sixth position. Last June, he donated $5.3 billion, and in November of the same year, he contributed another $1.14 billion to family charities.
Last year, he updated his will, stipulating that upon his death, the remaining 99.5% of his wealth will be transferred to a charitable trust managed by his children. His children – Susie (71), Howard (70), and Peter (67) – are tasked with distributing these funds over a decade, requiring unanimous agreement on how the money is disbursed.
Buffett has led Omaha-based Berkshire Hathaway since 1965. This $1.5 trillion conglomerate comprises nearly 200 businesses, including prominent names like GEICO auto insurance, BNSF railway, and significant holdings in companies like Apple and American Express.
Each foundation receiving his aid focuses on specific causes: The Susan Thompson Buffett Foundation, named after his first wife, supports reproductive health. The Sherwood Foundation assists charities and early childhood education in Nebraska.
The Howard G. Buffett Foundation tackles global food insecurity, human trafficking, and conflict resolution.
The Novo Foundation is dedicated to advancing marginalized women, adolescent girls, and indigenous communities. Buffett had previously indicated last June that no further donations would be made to the Gates Foundation after his passing.