Success·Warren BuffettBuffett donates $6 billion in Berkshire s to charitiesBY Alexandre RajbhandariBY BloombergBY Alexandre RajbhandariBY BloombergWarren Buffett at the Goldman Sachs 10,000 Small es Summit in Washington, D.
Andrew Harrer—Bloomberg via Getty ImagesWarren Buffett will donate $6 billion of Berkshire Hathaway Inc. S to five foundations as part of a pledge he made nearly two decades ago.
43 million Class B s will be given to the Bill & Melinda Gates Foundation Trust, according to a statement on Saturday.
92 million s will be donated to his children’s foundations — Sherwood Foundation, the Howard G.
Buffett Foundation and NoVo Foundation — as well as the Susan Thompson Buffett Foundation, named after the billionaire’s late wife.
The 94-year-old started the Giving Pledge in 2010 alongside friends Bill Gates and Melinda French Gates with the goal of donating Buffett’s fortune either in his lifetime or at his death.
Four years earlier, he had started making massive donations to the Gates’s foundation, as well as foundations tied to his children.
“The mathematics of the lifetime commitments to the five foundations are interesting,” Buffett said.
“The five foundations have received Berkshire B s that had a value when received of $60 billion, substantially more than my entire net worth in 2006.
” Buffett earlier this year announced he would step down as chief executive officer of Berkshire Hathaway by the end of 2025, leaving the role to his long-time second-in-command Greg Abel.
Buffett said he would not sell a single of Berkshire Hathaway, but would give them away gradually.
Read More: Buffett Exit to Lift Energy Executive Abel to Berkshire CEO Buffett’s stake in Berkshire now consists of 198,117 Class A s and 1,144 Class B s.
“I have no debts and my remaining A s are worth $145 billion, well over 99% of my net worth,” Buffett said. “My will vides that 99. 5% of my estate is destined for philanthropic usage.
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