Buffett Donates BH Shares Valued at $3.6 Billion to Five Foundations

Buffett Donates BH Shares Valued at $3.6 Billion to Five Foundations

Berkshire Hathaway has announced that its chairman, Warren E. Buffett, has donated shares worth $3.6 billion from his Berkshire holdings to five foundations.

According to the Omaha-based conglomerate, Buffett, a co-founder and signatory of the Giving Pledge, converted 11,250 Class A shares of his Berkshire holdings into 16,875,000 Class B shares and donated 16,811,941 of the latter to the Bill & Melinda Gates Foundation and four foundations established by his late wife and children: the Susan Thompson Buffett Foundation, the Sherwood Foundation, the Howard G. Buffett Foundation, and the NoVo Foundation.

Since 2006, when he pledged to give 85 percent of his stake in Berkshire Hathaway to charitable causes, Buffett has donated approximately 45 percent of his 2006 holdings, or about $34 billion in total, to the five foundations. Buffett intends to have all of his Berkshire shares donated to charity through annual gifts that will be completed ten years after his estate is settled.

"Berkshire Hathaway Inc. News Release." Berkshire Hathaway Press Release 07/01/2019.