American billionaire and investor Warren Buffett donated a record $6 billion in shares of Berkshire Hathaway to the Bill and Melinda Gates Foundation and four other charities associated with his family. This is the largest annual donation since he began giving his fortune to charity in 2006. informs Reuters.
In total, Buffett has already given more than 60 billion dollars to charitable organizations. This time, he donated 9.43 million shares to the Gates Foundation, more than 943,000 to the Susan Thompson Buffett Foundation, and more than 660,000 shares to the foundations of his children Howard, Susie and Peter.
Despite the generous contributions, the 94-year-old Buffett still owns 13.8% of Berkshire Hathaway’s shares. Before his latest donation, his fortune was estimated at $152 billion, making him the fifth richest person in the world. After the transfer of shares, he fell to the sixth position in the Forbes ranking.
Last year, he amended his will, directing that 99.5% of his fortune be transferred upon his death to a charitable trust to be administered by his children. They will have about ten years to distribute the funds, making decisions unanimously.
Buffett has headed Berkshire Hathaway since 1965. The company, worth more than $1 trillion, includes about 200 businesses, including Geico, the BNSF railroad, and has large stakes in Apple and American Express. In accordance with data Forbes, Buffett’s current fortune is estimated at $168.2 billion. He is known for his charitable activities and promised to donate more than 99% of his wealth to charity.
