The Strategist

Buffett gives $4.6bn worth of shares to charity

06/23/2023 - 03:36

Warren Buffett, 92, has donated Berkshire shares worth $4.6 billion to charity.

Billionaire Warren Buffett gave $4.6 billion worth of Berkshire Hathaway stock to charity as part of his customary annual giving, the investment firm announced in a statement.

Five nonprofits received the donated shares. The Gates Foundation, established by millionaire Bill Gates and his ex-wife Melinda, received the $3.6 billion. Four nonprofit organizations led by Buffett's three children received a combined $1 billion.

Buffett is ranked sixth among the world's billionaires according to Forbes Real-Time, and his fortune is estimated to be worth $118.2 billion.

When Buffett, 92, promised to donate all the investment business stocks he held, which made up more than 98 percent of his wealth, to charity for the remainder of his life, he started giving Berkshire Hathaway’s stock to these five organizations every year in 2006. Buffett makes the donation as usual by converting his Class A voting shares into Class B shares.