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Rediff.com  » Business » Buffett's generous gift: $2.8 billion to Gates, charities

Buffett's generous gift: $2.8 billion to Gates, charities

July 17, 2014 13:30 IST

Buffett's generous gift: $2.8 billion to Gates, charities

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Jonathan Stempel in New York

Warren Buffett this week donated $2.8 billion of Berkshire Hathaway Inc stock to five charities, as part of the billionaire's plan to give away nearly all of his wealth.

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Image: Warren Buffett with Bill Gates.
Photographs: Rick Wilking/Reuters

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Buffett's generous gift: $2.8 billion to Gates, charities

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Buffett donated about 21.73 million Class "B" shares of Berkshire on Monday, a regulatory filing shows.

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Image: Warren Buffett during a visit to India.
Photographs: Reuters

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Buffett's generous gift: $2.8 billion to Gates, charities

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About 16.6 million shares, worth more than $2.1 billion, went to the Bill and Melinda Gates Foundation, which focuses on education, health and poverty problems. 

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Image: Bill Gates and wife Melinda Gates.
Photographs: Reuters

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Buffett's generous gift: $2.8 billion to Gates, charities

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The remainder went to four family charities, including a foundation named for his late first wife Susan and foundations for his children Howard, Peter and Susan.

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Image: President Obama awards the Medal of Freedom to recipient Warren Buffett.
Photographs: Larry Downing/Reuters

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Buffett's generous gift: $2.8 billion to Gates, charities

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The $2.8 billion is the most Buffett has donated to these charities, reflecting Berkshire's near-record share price, since he began making annual gifts in 2006. 

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Image: Warren Buffett.
Photographs: Reuters

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Buffett's generous gift: $2.8 billion to Gates, charities

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Buffett still controls nearly 20 percent of Berkshire's stock, which made him worth $65.8 billion on Monday, according to Forbes magazine. 

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Image: Warren Buffett.
Photographs: Reuters

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Buffett's generous gift: $2.8 billion to Gates, charities

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Only Mexico telecommunications mogul Carlos Slim and Bill Gates, the Microsoft Corp co-founder and Berkshire director, were worth more, Forbes said.

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Image: Carlos Slim.
Photographs: Reuters

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Buffett's generous gift: $2.8 billion to Gates, charities

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Berkshire has more than 80 operating businesses and ended March with more than $146 billion of stock and bond investments.

Buffett has run the Omaha, Nebraska-based company since 1965.


Photographs: Rick Wilking/Reuters

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