NewsWarren Buffett donates $758 million in stock to charity

    Warren Buffett donates $758 million in stock to charity

    The renowned investor is the sixth richest person in the world, with a net worth of 110.4 billion dollars, according to Bloomberg’s ‘ranking’ of billionaires.

    The American investor Warren Buffett, 92, donated this Wednesday shares of his multinational conglomerate Berkshire Hathawat worth 758 million dollars to various charities, reports the Bloomberg agency.

    Specifically, the tycoon granted 1.5 million titles from class B to the Susan Thimpson Buffett Foundation, which bears the name of his wife, who died in 2004. In addition, the philanthropic institutions Sherwood Foundation, Howard G. Buffett Foundation (managed by his son Howard) and NoVo Foundation received 300,000 each.

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    The Berkshire Hathaway chief made the donation after converting 1,600 of the company’s class A shares into 2.4 million class B shares, Bloomberg said, citing a financial record.

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    Philanthropic efforts

    buffett is the sixth richest person in the world, with a net worth of 110.4 billion dollars, according to the agency’s ‘ranking’ of billionaires. This year, his fortune increased in some 1,500 million dollars, despite the turmoil in the financial market and the turbulent economic situation at a global level. By not betting on charitable donations, the investor would be considerably richer, the media highlights.

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    Back in 2010, Buffett, along with Microsoft co-founder Bill Gates and his then-wife Melinda, launched the ‘Giving Pledge’ project, made up of billionaires who pledged to hand over most of their wealth to help solve the world’s most pressing problems. The Berkshire Hathaway chief promised donate 99% of your fortune either during his lifetime or after his death.

    Since then, the tycoon already donated more than 32,000 million dollars in Berkshire shares to the Bill & Melinda Gates Foundation, while regularly shifting assets to philanthropic entities run by his family.

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    Source: RT

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