Megain -coating Warren Buffett will donate about $ 6 billion in Berkshire Hathaway shares, his five -foundation financial participation company, fulfilling a promise made for almost two decades.
About 9.43 million class B shares will be donated to the Bill & AMP Foundation Fiduciary Fund; Melinda Gates, according to a statement issued on Saturday. Another 2.92 million shares will be donated to their children’s foundations – Sherwood Foundation, Howard G. Buffett Foundation and New Foundation – in addition to Susan Thompson Buffett Foundation, named after the late wife of the billionaire.
The 94 -year -old investor began the Giving Pledge Movement in 2010 alongside friends Bill Gates and Melinda French Gates, with the aim of donating the entire Buffett fortune in life or after his death. Four years earlier, he had already begun to make great donations to the founding of the Gates and for children’s institutions.
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“The mathematics of lifetime commitments to the five foundations is interesting. These foundations received Berkshire class B actions that, at the time they were delivered, were worth about $ 60 billion, significantly more than my whole equity in 2006,” Buffett said.
Earlier this year, Buffett announced that he will leave the position of Berkshire Hathaway CEO by the end of 2025, passing the role to his longtime right arm, Greg Abel. He said he would not sell any action from Berkshire Hathaway, but would still gradually donate.
Currently, Buffett owns 198.117 Class A and 1,144 Berkshire Class B actions.
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“I have no debt and my class actions to the rest are worth about $ 145 billion, much more than 99% of my equity. My will determines that about 99.5% of my estate will be intended for philanthropic purposes,” said Buffett.
