Warren Buffett to give USD 3.6 bn to five foundations
PTI, Jul 2, 2019, 10:51 AM IST
New York: Billionaire Warren Buffett announced Monday that he donated USD 3.6 billion worth of Berkshire Hathaway stock to the Bill & Melinda Gates Foundation and four other charities.
Buffett, 88, nicknamed the “Oracle of Omaha,” will convert 11,250 of class “A” Berkshire shares into 16.9 million class “B” shares, Berkshire Hathaway said in a news release.
Besides the Gates Foundation, the recipients will be the Susan Thompson Buffett Foundation, the Sherwood Foundation, the Howard G Buffett Foundation and Novo Foundation.
With prior Buffett donations, the longtime Berkshire chief will have given about 45 per cent of this 2006 holdings to the five foundations for a total of about USD 34 billion.
Buffett and the Gateses launched the “Giving Pledge” in 2010 in which billionaires promised to give at least half their wealth to philanthropic causes.
Buffett intends to donate all of his Berkshire shares to philanthropy through annual gifts that will be completed 10 years after his estate is settled, the company said.
Udayavani is now on Telegram. Click here to join our channel and stay updated with the latest news.
Top News
Related Articles More
‘Idiot’: Former Canadian Sikh minister slams Justin Trudeau over Khalistan issue
Canadian cop suspended for attending pro-Khalistan protest outside Hindu temple
US going to historically tight presidential election
Expect Canadian government to ensure justice, uphold rule of law: PM Modi
Khalistanis clash with people at Hindu temple in Canada, Trudeau says unacceptable
MUST WATCH
Latest Additions
Temple idols found desecrated in Hyderabad, case registered
Rebels to be shown the door: Maharashtra BJP chief Bawankule
Rohit Shetty says ‘Singham Again’ his fastest Rs 100 crore film, thanks audience for support
SC junks plea against quashing of LOC issued to ex-house help of Sushant Singh Rajput
People of Wayanad will ask me not to come there often: Priyanka Gandhi
Thanks for visiting Udayavani
You seem to have an Ad Blocker on.
To continue reading, please turn it off or whitelist Udayavani.