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
COP29: Civil society protests climate finance proposal, calls for ‘no deal’ over ‘bad deal’
Bomb disposal squad tackles ‘security incident’ at UK’s Gatwick Airport
Baku climate talks: The ‘X’ factor that could determine future of Global South
India-US ties have strong foundation: White House confident in navigating crisis over Adani bribery charges
PM Modi leaves for home after concluding three-nation visit
MUST WATCH
Latest Additions
COP29: Civil society protests climate finance proposal, calls for ‘no deal’ over ‘bad deal’
Bengaluru: Woman accused dies by suicide, alleges harassment by investigating officer
Counting of votes underway for bypolls to three Assembly segments in Karnataka
MVA collects letters of support from over 160 candidates to form govt in Maharashtra
Mangaluru woman files complaint against husband for instant Talaq and harassment
Thanks for visiting Udayavani
You seem to have an Ad Blocker on.
To continue reading, please turn it off or whitelist Udayavani.