Warren Buffett Charity Foundation – Warren Buffett, the billionaire chief executive of Berkshire Hathaway ( BRK.A ), who has a reputation for being frugal despite his wealth, made his biggest charitable donation to date earlier this week. He gave away $4.6 billion in Berkshire Hathaway B shares, in line with his plan to eventually give 99 percent of his net worth to charity.
Warren Buffett plans to donate 99 percent of his net worth to charity. Johannes Eisele/AFP via Getty Images
Warren Buffett Charity Foundation
The investor, who pledged annual donations of Berkshire Hathaway stock to five foundations in 2006, has spent a total of $50 billion since then. A key stipulation for Buffett’s funds is that they must be used within a few years, rather than remaining in endowments. His latest gift gave away 13.7 million shares to charities, with most going to the Bill and Melinda Gates Foundation. The organization, which just received 10.5 million Berkshire Hathaway shares, has received $35.7 billion from Buffett through 2022.
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Founded in 2000 by Bill Gates and Melinda French Gates, the Bill & Melinda Gates Foundation is one of the largest charitable foundations in the world with endowments of $67.3 billion. With a focus on health care, poverty reduction, and equitable educational opportunity in the United States, the company has awarded a total of $71.4 billion in grants since its inception.
Buffett, 92, worked closely with the private foundation for 15 years and was a board member until he stepped down in 2021. In a letter discussing its goals, he said “his physical involvement was not necessary in no way” to meet the group’s annual donations. He also joined forces with Bill and Melinda in 2010 when the trio created the Giving Pledge, which calls on the wealthy to give away at least half of their wealth and has since had 241 signatories.
Another recipient of the annual giving is the Susan Thompson Buffett Foundation, which Buffett founded in 1964 and received 1 million shares in 2023. The organization was renamed after Buffett’s late wife, Susan, in 2004 after she bequeathed 2.5 billion dollars of his endowment to the foundation. After helping fund Planned Parenthood in the 1960s, the foundation has focused primarily on organizations focused on reproductive health, in addition to providing annual scholarships to Nebraska students.
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The other three foundations, the Sherwood Foundation, the Howard G. Buffett Foundation and the NoVo Foundation, are run by Buffett’s children, Susan, Howard and Peter. They each received 731,708 shares of Berkshire Hathaway that year. The Sherwood Foundation funds social justice initiatives in Nebraska with an emphasis on public education and poverty, while the more global goals of the Howard G. Buffett Foundation focus on food security, conflict reduction, anti-trafficking, public safety and animal welfare. The NoVo Foundation, in turn, focuses on initiatives to support women’s rights and the city of Kingston, New York, where Peter lives.
“The math of the lifetime commitments to the five foundations is interesting,” Buffett said in a letter about his recent contribution. His original commitment to the five foundations said each organization would receive 5 percent less Berkshire Hathaway stock each year. But the rising value of his company’s shares usually led to a higher contribution to the group year-on-year.
The combined $50 billion donated to the five organizations is significantly more than Buffett’s combined net worth in 2006, said the Berkshire Hathaway CEO, whose will states that 99 percent of his remaining A shares are in the $112 billion company for foundations. “Nothing unusual has happened in Berkshire; “A very long way, simple and generally sound decisions, the American tailwind and the combined effects have created my current wealth,” he said.
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Filed under: Economics, Susan Thompson, Bill & Melinda Gates Foundation, Melinda Gates, Warren Buffett, Philanthropy, Bill Gates, Berkshire Hathaway. Another summer, another big donation from Warren Buffett. He again broke his previous record and donated more than $2.86 billion
On Wednesday, we donated stock to a handful of charities. The gifts top the $2.84 billion he gave last July, surpassing the $2.8 billion he gave in 2014.
Buffett donated more than 19.6 million Berkshire Hathaway Class B shares — valued at $145.93 a share at Wednesday’s close — to five charities, according to an SEC filing Thursday. Most notable recipient: The Bill & Melinda Gates Foundation. As the world’s largest foundation, it focuses on causes such as ending global poverty, improving US schools, and fighting infectious diseases such as HIV, polio, and malaria. Gates recently launched a plan to give away more than 100,000 chickens to some of the world’s poorest people, who can raise and sell the animals to lift themselves out of poverty. On Wednesday, Buffett donated nearly $2.2 billion worth of stock to the Gates Foundation.
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The investor also donated more than $215 million worth of stock to the Susan Thompson Buffett Foundation, the charity named after his late wife that focuses on family planning programs and college scholarships. Buffett also donated approximately $150 million in Bershire stock to each of his three children’s foundations—the Howard G. Buffett Foundation, the Sherwood Foundation and the NoVo Foundation—each led by Howard, Susan and Peter Buffett.
This year’s gifts boost Buffett’s net worth to $65.6 billion. That’s enough to keep him the third-richest person in the world, although the race is getting tighter. He is only $1.3 billion richer than Amazon’s Jeff Bezos, who is fourth. Buffett’s net worth is $12 billion less than that of the world’s richest man, his friend Bill Gates.
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In 2010, Buffett and Gates created the Giving Pledge, which encourages billionaires around the world to donate at least half of their wealth to charity. Since then, 154 people have made that pledge, including David Rockefeller and Mark Zuckerberg. Buffett has vowed to give away 99% of his wealth during his lifetime or within 10 years of settling his estate. Wednesday’s donations bring his lifetime endowment to more than $28.5 billion. Warren Buffett, CEO of Berkshire Hathaway, attended Allen and Co.’s annual media conference. Sun Valley in Sun Valley, Idaho on July 7, 2022. /Brandon McDermid/File Photo License Rights Acquired
Nov 23 () – Berkshire Hathaway Inc (BRKa.N) announced that Warren Buffett has donated another portion of his fortune to four family charities, without disclosing whether the billionaire CEO will make another donation to the Bill and Melinda Foundation Gates.
Buffett donated an additional 2.4 million Class B shares to the conglomerate worth about $759 million based on Wednesday’s closing price, according to a regulatory filing.
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Buffett donated 1.5 million shares to the Susan Thompson Buffett Foundation. The foundation, named for his late first wife, funds scholarships for Nebraska students, according to its website.
Another 900,000 shares were divided equally between the charities managed by his children Howard, Susan and Peter: the Howard G. Buffett Foundation, the Sherwood Foundation and the Novo Foundation.
Buffett has given away more than half of his Berkshire stock since 2006, which was worth more than $46 billion at the time of the donation.
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More than three-quarters went to the Gates Foundation, which remains one of the world’s largest private charities despite the divorce of its eponymous co-founders last year.
After the latest donations, Buffett still owns 15.5 percent of Berkshire’s stock and controls 31.4 percent of the company’s voting rights.
Berkshire owns dozens of companies such as BNSF railroad and Geico auto insurance, as well as stocks such as Apple Inc ( AAPL.O ), Bank of America Corp ( BAC.N ) and Occidental Petroleum Corp ( OXY.N ). Buffett has run the company since 1965.
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According to the Buffett family foundation websites, the Howard G. Buffett Foundation works to alleviate hunger, calm conflict and improve public safety around the world. The Sherwood Foundation supports Nebraska nonprofits; Novo Foundation aims to support communities, Jun 14 () – Warren Buffett on Tuesday donated roughly $4 billion to the Bill & Melinda Gates Foundation and four family charities, part of the billionaire’s pledge to give away nearly his entire net worth.
Berkshire Hathaway Inc ( BRKa.N ), which Buffett has run since 1965, said the donation included about 14.4 million of its Class B shares, which closed at $277.64 on Tuesday.
Eleven million shares will go to the Bill & Melinda Gates Foundation and 1.1 million to the Susan Thompson Buffett Foundation, named after Buffett’s late first wife.
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An additional 770,000 shares will also go to each of three charities run by Buffett’s children, Howard, Susan and Peter: the Howard G. Buffett Foundation, the Sherwood Foundation and the Novo Foundation.
Warren Buffett, chief executive of Berkshire Hathaway, walks through the exhibit hall as shareholders gather to hear the billionaire investor speak at Berkshire Hathaway Inc.’s annual shareholder meeting. in Omaha, Nebraska, United States, May 4, 2019. /Scott Morgan/File Photo acquire licensing rights
Since 2006, Buffett, 91, has given away more than half of his Berkshire stock, with donations worth about $45.5 billion at the time of her donation.
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Despite the donations, Buffett still owns about 16 percent of Berkshire and controls about a third of the voting rights.
Buffett built the Omaha, Nebraska-based Berkshire Company
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