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Buffett Donates $6 Billion in Berkshire Class B Shares to Gates Foundation and Family Charities

Retaining 13.8 percent of Berkshire shares underscores his no-sale pledge with future gifts assigned to a trust managed by his children.

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Berkshire Hathaway Chairman Warren Buffett attends the Berkshire Hathaway Inc annual shareholders' meeting in Omaha, Nebraska, U.S., May 3, 2024. REUTERS/Scott Morgan/File Photo
FILE - Warren Buffett, chairman and CEO of Berkshire Hathaway, smiles as he plays bridge following the annual Berkshire Hathaway shareholders meeting in Omaha, Neb., May 5, 2019. (AP Photo/Nati Harnik, File)

Overview

  • He transferred about 12.36 million Class B shares, including 9.43 million to the Bill & Melinda Gates Foundation.
  • This record annual gift exceeds last year’s $5.3 billion donation and brings his lifetime contributions above $60 billion.
  • The Susan Thompson Buffett Foundation received 943,384 shares while the Howard G. Buffett, Sherwood and NoVo foundations each got 660,366 shares.
  • Buffett’s net worth of $152 billion before the gift placed him fifth on the Forbes rich list and will drop him to sixth after the transfer.
  • A 2024 will amendment channels 99.5 percent of his remaining estate into a trust run by his three children, who have ten years to distribute its assets.