Warren E. Buffett has upheld his pledge to give away his wealth, with another $6 billion contribution of Berkshire Hathaway stock to the Gates Foundation, Susan Thompson Buffett Foundation, Sherwood Foundation, Howard G. Buffett Foundation and NoVo Foundation. This latest donation brings Buffett’s total charitable giving to over $60 billion.
In a statement, Buffet said, “The schedule for annual grants was made on June 26, 2006, and has since been supplemented by significant grants to four of the five recipients. When originally made, I owned 474,998 Berkshire A shares worth about $43 billion and those shares represented more than 98% of my net worth.”
“The five foundations have received Berkshire B shares that had a value when received of about $60 billion, substantially more than my entire net worth in 2006. I have no debts and my remaining A shares are worth about $145 billion, well over 99% of my net worth. 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. My will provides that about 99½% of my estate is destined for philanthropic usage.”
“My November 21, 2023 release set forth procedures of my will that are unlikely to be changed before my death. My then-current will becomes public upon my death.”
Following the donation, Warren Buffett still owns 13.8% of Berkshire’s stock. Prior to his donation, his $152 billion net worth made him the world’s fifth-richest person.
Buffett, now 94, started donating his wealth in 2006. He updated his will in 2024, allocating 99.5% of his remaining estate after his death to a charitable trust managed by his children.
The world-famous philanthropist’s latest donations are scheduled for delivery on June 30.
By CEO NA Editorial Staff
