The legendary investor Warren Buffett is the world’s sixth richest person. He is also its biggest philanthropist.
This week, the “Oracle of Omaha” donated $4.6 billion of Berkshire Hathaway stock, extending his long tradition of summer giving.
How much has Buffett given to philanthropy? Since 2006, he has given away $51.5 billion, landing at the top of the Forbes 2023 list of America’s most generous philanthropists.
Even after giving away tens of billions, Forbes says Buffett — who estimates his fortune at more than $100 billion — is more than twice as rich as he was 1[ads1]7 years ago, thanks to a 450% increase in Berkshire Hathaway shares .
“Nothing extraordinary has happened in Berkshire; a very long runway, simple and generally sound decisions, the American tailwind and compounding effects produced my current wealth, Buffett, 92, said in a press release, speaking of his Omaha, Nebraska-based conglomerate, which has businesses spanning industrial sectors from insurance for retail. .
Buffett teamed up with Bill Gates and Gates’ ex-wife Melinda French Gates to create the Giving Pledge and vowed to donate nearly all of his fortune to charity.
Who are the lucky recipients of Buffett’s latest largesse?
- The Bill and Melinda Gates Foundation received $3.5 billion worth of Berkshire Hathaway stock.
- The Susan Thompson Buffett Foundation, founded by his late wife, received $350 million worth.
- The foundations of his three children put in $250 million apiece.
Buffet is not finished yet. He has several billions stowed away in five foundations, and he has his 15% stake in Berkshire Hathaway, one of the world’s most valuable companies.
“My will provides that more than 99% of my estate is designated for philanthropic use,” Buffett said.
Forbes estimates that Buffett’s total donations could eventually exceed $160 billion.