Quick overview

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Warren Buffett donated an additional $6 billion worth of Berkshire Hathaway (BRKa) stock to the Gates Foundation and four family charities. This was his largest yearly donation since he began giving away his fortune nearly 20 years ago.

 Buffett’s total charitable contributions surpassed $60 billion, with around 12 billion Berkshire Class B shares donated. He gave the Gates Foundation 9.4 million shares, the Susan Thompson Buffett Foundation received 943,384 shares, and 660,366 shares each to three charities run by his children, Peter, Susie, and Howard: the Howard G. Buffett Foundation, Sherwood Foundation, and Buffett Foundation.

The number of shares still outstanding suggests Warren Buffett retains 13.8% of Berkshire’s stock. Forbes ranked him as the fifth richest person globally before the donation, with a net worth of $152 billion.  He is now ranked sixth.

Buffett emphasized in a statement that he has no plans to sell any Berkshire stock. Now 94, he’s been donating his wealth since 2006.

He amended his will to leave 99. 5% of his posthumous wealth to a charitable trust managed by his children. They will have roughly ten years to allocate the funds and must reach a unanimous decision. Howard Buffett is 70, Peter Buffett is 67, and Susie Buffett is 71. Since 1965, Berkshire Hathaway, headquartered in Omaha, Nebraska, has been led by Warren Buffett.

The $1 trillion conglomerate owns dozens of stocks, including Apple and American Express, as well as nearly 200 companies, which include the BNSF railroad and Geico auto insurance.

The Susan Thompson Buffett Foundation is named after his mother, Susie Buffett, his first wife, who heads the foundation and supports reproductive health. The Sherwood Foundation funds early childhood education and non- profits in Nebraska.

The Howard G. Buffett Foundation focuses on reducing conflict, fighting human trafficking, and ending global hunger. Initiatives from the NoVo Foundation are aimed at indigenous communities and underrepresented women and girls.