Warren Buffett has donated $6 billion worth of his company’s stock to five foundations, bringing the total he has given to them since 2006 to roughly $60 billion.
Buffett, known as the Oracle of Omaha, said in a statement to the Associated Press that the shares of Berkshire Hathaway would be transferred on Monday. Berkshire Hathaway owns Geico, Dairy Queen and a range of other businesses.
“Those shares have a lower and easier-to-digest price tag than the company’s original Class A shares, and each of the B shares was worth $485.68 at their most recent close on Friday,” the AP report said. “The largest number of shares went to the Bill & Melinda Gates Foundation Trust, which will receive 9.4 million shares. The Susan Thompson Buffett Foundation will receive 943,384 shares, and the Sherwood Foundation, Howard G. Buffett Foundation and NoVo Foundation will each receive 660,366 shares.”
People are also reading…
Buffett has said he plans to cut off donations to the Bill & Melinda Gates Foundation after his death and let his three children decide how to distribute the rest of his fortune.
Buffett
Berkshire Hathaway’s Class B stock has climbed 19.1% over the last 12 months, topping the broad U.S. stock market’s return of 14.1%, including dividends. Buffett has amassed a fortune worth about $145 billion, with basically all of it in Berkshire Hathaway’s stock.
“Nothing extraordinary has occurred at Berkshire; a very long runway, simple and generally sound decisions, the American tailwind and compounding effects produced my current wealth,” Buffett said in a statement. “My will provides that about 99½% of my estate is destined for philanthropic usage.”
kevin.cole@owh.com, 402-444-1272
‘);
var s = document.createElement(‘script’);
s.setAttribute(‘src’, ‘https://assets.revcontent.com/master/delivery.js’);
document.body.appendChild(s);
window.removeEventListener(‘scroll’, throttledRevContent);
__tnt.log(‘Load Rev Content’);
}
}
}, 100);
window.addEventListener(‘scroll’, throttledRevContent);
}