Warren Buffett did not include the Gates Foundation in his yearly charitable stock donations, instead allocating all this year’s contributions to four foundations connected to his family.
Berkshire Hathaway announced Tuesday that the 95-year-old chairman will give 9 million Class B shares of Berkshire to the Susan Thompson Buffett Foundation, along with 1 million shares each to the Sherwood Foundation, the Howard G. Buffett Foundation, and the Novo Foundation. ç
In a press release, Buffett stated, “My goal is to dispose of all of my Berkshire shares within about eight years… As I explained last year, my children are unfortunately growing older. I have every hope that the three of them are able to carry out the disposal of my shares by December 31, 2034.“
“Of course, mortality is unpredictable, but my remaining shares will be donated to the four foundations one way or the other by December 31, 2034. The goal is to have the grants grow annually to each of the three foundations managed by each of my children and the annual grant to the Susan Thompson Buffett Foundation grow at a somewhat greater rate.
Until 2026, the Gates Foundation was among the top recipients of Berkshire’s annual donations. Since 2006, Berkshire’s chairman has donated over $43 billion in stock to the philanthropic foundation established by Bill Gates and his ex-wife, Melinda French Gates.
Buffett has delayed his usual donation to the Gates Foundation while waiting for the review of the foundation’s connections to Jeffrey Epstein.
Buffett said he had not spoken with Gates “at all since the whole thing was unveiled,” adding, “Until it gets cleared up … I just don’t think it makes sense to do a lot of talking.“
By CEO NA Editorial Staff
