Warren Buffett just gave away billions in Berkshire Hathaway stock
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.
