Warren Buffett donated $5.3 billion of Berkshire Hathaway stock to charity as part of his plan to give away 99% of his fortune, with 13 million shares distributed to several foundations.
Warren Buffett has offloaded $5.3 billion of his Berkshire Hathaway stock, gifting it to charity, as part of his ongoing philanthropy plan which aims to give away almost all of his wealth.
It is his largest annual gift since he began this program of donations in 2006. Over these years he has so far donated $57 billion.
This is part of his stated plan to give away 99% of his fortune.
Buffett, who is 93 years old, has named his children executors of his will to run his estate after his death with express instructions for his charitable trust to “help people that haven’t been as lucky as we have”.
The latest donation, of 13 million shares, was distributed to The Bill & Melinda Gates Foundation, The Susan Thompson Buffett Foundation, named after Buffett’s late first wife, the Howard G. Buffett Foundation, Sherwood Foundation, and NoVo Foundation.
He still owns about one-seventh of Berkshire Hathaway, with his stake valued at some $127 billion.
Berkshire Hathaway, the investment company led by Buffett, is worth $880 billion that owns dozens of businesses, including the BNSF railroad and Geico car insurance, and stocks such as Apple.
