Particle.news

Download on the App Store

Warren Buffett Completes $6 Billion Gift of Berkshire Hathaway Shares

He converted Class A holdings into over 12.3 million Class B units to reinforce a plan that channels roughly 99.5 percent of his fortune into five charities.

Image

Overview

  • Buffett converted 8,239 Class A shares into more than 12.3 million Class B shares for this donation.
  • Roughly 9.4 million of the converted shares went to the Bill & Melinda Gates Foundation Trust and the remainder to four other Buffett-funded charities.
  • The $6 billion contribution is his largest annual donation since launching the program in 2006.
  • His lifetime giving to these foundations now exceeds $60 billion, a sum larger than the GDP of many countries.
  • His will directs about 99.5 percent of his estate to philanthropic use, with a posthumous trust overseen by his heirs or designated trustees.