15 July AtoZForex — At AtoZForex, we live by the principle sharing is caring and it seems that Warren Buffett also values this motto. As Warren Buffett donates $2.86 billion worth of Berkshire Hathaway stock to five different foundations, including the Bill & Melinda Gates Foundation.
Warren Buffett’s donations were made on last Wednesday, and according to a regulatory filing the donations compromised of 19.61 million Class "B" Berkshire shares, which equals to $2.86 billion. At the age of 85, it seems like an outlandish thing to do, but Warren Buffett is not any average person. According to Forbes magazine, he remains the world's third-richest person.
Buffett ties with the Bill & Melinda Gates Foundation
The largest proportion of the donation went to Bill Gates’ private foundation, which is the largest in the world. You might be wondering why, to the Bill & Melinda Gates foundation? Well, Warren Buffett has known Bill Gates for about a quarter of a century and counts him as a very close friend. Another reason to donate such a large amount deals with the fact that in 2010, Warren Buffett launched the Giving Pledge with Bill Gates.
The Bill & Melinda Gates Foundation, which goals are to improve education, reduce poverty and foster health projects, received the largest proportion of Warren Buffett’s donation. According to the filing the foundation accepted 14.96 million shares, which equals to &2.2 billion.
Warren Buffett family charities
Aside the donation to the Bill & Melinda Gates Foundation, Warren Buffett’s donated to four other charities that have ties with his family. The first charity is Susan Thompson Buffett Foundation, which is named after his late wife Susan and is focused on education.
The second charity is the Nebraska-based Sherwood Foundation, which is chaired by his daughter. The third charity is the Howard G. Buffett Foundation, run by his son Howard. The last charity is the NoVo Foundation and is headed by Peter, which is Warren Buffett's youngest son.
Warren Buffett donated over $24.3 billion to charities
As Warren Buffett donates $2.86 billion to charity, it is remarkably not the first time that he has done it. In fact, the recent donation has been already Warren Buffett's 11th annual donation. Since 2006, the contributions of Warrant Buffett has now totaled over $24.3 billion.
What are your thoughts on Warren Buffett’s donations? Let us know down in the comments section.