Billionaire Warren Buffett on Friday announced his highest ever annual donation of Berkshire shares worth $ 5.3 billion to charity. Buffett’s donation boosted his overall giving to the charities to about $57 billion, including to the family charities in the last two Novembers.
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Donations to charities
Buffett donated his Berkshire shares to five foundations: 9,930,357 to the Bill & Melinda Gates Foundation Trust, 993,035 shares to the Susan Thompson Buffett Foundation and 695,122 shares to each of the Sherwood Foundation, Howard G. Buffett Foundation and NoVo Foundation.
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Details of shares donated
The latest donation, announced on Friday, included about 13 million (1.3 crore) Berkshire class B shares. Buffett converted 8,674 A shares into 13,011,000 B shares in order to donate nearly 13,008,758 B class shares of Berkshire Hathaway.
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Buffett’s updated ownership
Warren Buffett now owns 207,963 (2.08 lakh) class A shares and 2,586 class B shares.
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Buffett on his wealth generation
Buffett stated that nothing extraordinary had occurred at Berkshire; a very long runway, simple but generally sound capital deployment, the American tailwind and compounding effects produced his current wealth. His will provides that more than 99% of his estate is destined for philanthropic usage.
ET Online
Warren Buffett’s letter dated November 21, 2023 has set the procedures of his will which he said are unlikely to be changed before his death. His then-current will would become public on his deathWarren Buffett’s letter dated November 21, 2023 has set the procedures of his will which he said are unlikely to be changed before his death. His then-current will would become public on his death
