Warren Buffett is around 6 billion US dollars of donations Berkshire Hathaway As part of a promise, Inc. divides five foundations that he made almost two decades ago.
According to a statement, around 9.43 million shares in class B will be handed over to the Bill & Melinda Gates Foundation Trust on Saturday. A further 2.92 million shares are donated to the foundations of his children – the Sherwood Foundation, the Howard G. Buffett Foundation and the Novo Foundation – as well as the Susan Thompson Buffett Foundation, named after the deceased wife of the billionaire.
The 94-year-old began the Giving Pledge in 2010 together with friends Bill Gates and Melinda French Gates with the aim of donating Buffetts either in his life or in his death. He had started four years earlier, massive donations to the gates and foundations foundation that were bound to his children.
“The mathematics of lifelong obligations for the five foundations are interesting,” said Buffett. “The five foundations received Berkshire B shares that had a value when it is around 60 billion US dollars, essentially more than my entire net assets in 2006.”
Buffett announced at the beginning of this year that he would resign as a Chief Executive Officer from Berkshire Hathaway by the end of 2025 and would leave the role of his long-standing second-in-command greg Abel. Buffett said he would not sell a single share of Berkshire Hathaway, but gradually give them away.
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Buffett’s participation in Berkshire now consists of 198,117 class A and 1,144 shares in class B.
“I have no debts and my remaining stocks have a value of around 145 billion US dollars, well over 99% of my net wealth,” said Buffett. “My will provides that about 99.5% of my estate are intended for philanthropic use.”
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