Finance

Warren Buffett To Donate $3.6 Billion More To Five Charities

For the majority of his life, Warren Buffett made his name as possibly the greatest investor of the last century, and during the course of his life, he made a fortune that made him one of the world’s wealthiest persons. At this point of time, he has a net worth that is pegged at $87 billion and that makes him the fourth wealthiest individual in the world. However, he has pledged to give away most of his wealth to charity, and he has been doing so assiduously for the past few years. Moreover, he has even inspired more billionaires from across the world to donate to charity. In a new development, the man known as the Oracle of Omaha has decided to donate $3.6 billion more to a total of five charities.

The donation is going to take place in entirely in his company Berkshire Hathaway’s stock, and for that purpose Buffett has also converted the shares from A to B. In this regard, it is also important to note that considering the growth of Berkshire Hathaway, the current value of the shares could rise significantly over the years if the charities hold on to them and the total value of the donation could be much more than $3.6 billion. The class A shares, which come with voting rights are priced at a whopping $321,000 each, but Class B shares, meant for regular investors, are currently trading at $214 each.

The five charities which will be the recipient of this generous donation at going to be Howard G. Buffett Foundation, NoVo Foundation, Susan Thompson Buffett Foundation, Bill & Melinda Gates Foundation, and Sherwood Foundation. The Bill & Melinda Gates Foundation has been one of the biggest recipients of the Warren Buffett’s largesse over the years, and after this particular round of donations, the foundation will become one of the biggest holders of Berkshire stock. In 2018, Buffett had made an identical donation to the same five charities. It has also been reported that since 2006, he has donated as much as $34 billion in Berkshire stock to charities.

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Jodie Miller

Jodie Miller is experienced journalist. She holds double degree in journalism and communication. She joined our team as a content curator. She enjoys writing and curating contents related to finance and forex world.
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