Warren Buffett has announced a $6 billion donation to five foundations, the largest portion going to the Bill & Melinda Gates Foundation Trust. This brings his total donations since 2006 to around $60 billion. The donation includes nearly 12.4 million shares of Berkshire Hathaway’s stock, valued at $485 each.
The largest tranche will go to the Bill & Melinda Gates Foundation Trust, which received 9.4 million shares. Other foundations receiving shares include the Susan Thompson Buffett Foundation and Howard G. Buffett Foundation. The donations are part of Buffett’s long-term philanthropic strategy, with his will allocating nearly all of his estate to charitable causes.
Buffett’s investment approach has been key to his success, allowing him to amass a fortune worth around $145 billion in Berkshire Hathaway stock. He attributes his wealth to “a very long runway, simple and generally sound decisions” and the compounding effects of the American economy.
Source: https://abcnews.go.com/Business/wireStory/warren-buffett-announces-6-billion-donations-foundations-123308846