
Warren Buffett Gifts $3.2B in Berkshire Hathaway Stock to Charities - myroon5
https://www.wsj.com/articles/warren-buffett-gifts-3-2-billion-in-berkshire-hathaway-stock-to-charities-1499723277
======
myroon5
Full text:

Berkshire Hathaway Inc. Chairman Warren Buffett has donated about $3.17
billion of shares in the company to five foundations, the company said Monday,
the latest contribution in a more than decade-long pledge to donate a portion
of his wealth to charities and philanthropic endeavors.

The Omaha, Neb., billionaire investor donated 18,628,189 Class B shares in
Berkshire Hathaway to five foundations: the Bill & Melinda Gates Foundation,
Susan Thompson Buffett Foundation, Sherwood Foundation, Howard G. Buffett
Foundation and NoVo Foundation.

In order to make the contributions, Mr. Buffett converted his A shares in
Berkshire Hathaway to Class B shares. Last year, Mr. Buffett made donations
totaling $2.86 billion to charities.

Mr. Buffett, 86, is Berkshire’s largest shareholder and as of March held 32.7%
of the voting power in the conglomerate.

Mr. Buffett pledged in 2006 to donate 85% of his Berkshire Hathaway stock to
the Gates Foundation. Including the stock gift this year, Mr. Buffett said he
has donated $27.54 billion of stock to foundations.

Mr. Buffett said Monday he intends to have all of his Berkshire shares given
to charities through annual gifts that will be completed 10 years after his
estate is settled.

