Warren Buffett donates $3.4 billion to Gates' and family charities

Warren Buffett has donated roughly $3.4 billion of Berkshire Hathaway Inc stock to five charities, the billionaire`s largest contribution in his longstanding plan to give away his fortune.

Buffett`s 13th annual donation comprised about 17.7 million Class "B" shares of Berkshire, valued at $192 each as of Monday`s market close.

The largest block went to the Bill & Melinda Gates Foundation. Buffett`s own foundation, named for his late first wife Susan, and charities run by his children Howard, Susan and Peter received the rest.

TRENDING NOW

WhatsApp rolls out channel alerts, search messages by date features on Android: Report

RD vs SIP: Where to invest? Know advantages and disadvantages of both

Animal vs Sam Bahadur Box Office Collection Day 9: Animal crosses Rs 600 crore club, beats Sam Bahadur | Check day-wise collection

Post Office Time Deposit Scheme: Interest up to 7.5%, guaranteed returns, fixed income, preclosure rules, other benefits

US Fed, ECB, Bank of England poised to keep interest rates on hold

India vs South Africa 1st T20I Free Live Streaming: When and Where to watch IND VS SA T20I series Match LIVE on Mobile Apps, TV, Laptop, Online

Earthquake of magnitude 5.7 strikes Peru's Paracas

NPS (National Pension System): How to create a corpus of Rs 5 crore with Rs 442 investment/day? After retirement, you will get Rs 2.5 lakh every month

MP BJP MLAs to meet on Monday to elect legislative party leader; CM likely to be announced

Manu Ahuja, CEO of Jubilant Agri and Consumer Products, passes away

Seal integrity issue forces Cipla unit to recall one lot of medication in US

Animal Box Office Collection: Ranbir Kapoor-starrer touches Rs 600 crore mark worldwide | Check OTT release details

Vehicle Insurance Policy: If your car drowns during flood or storm, can you claim insurance? Know rules

COVID-19 Update: India records 148 new coronavirus cases, infection tally stands at 4.50 crore

Affordability levels to buy homes hit in last 2 years; to improve in 2024 on likely repo rate cut: JLL

Buffett, 87, has since 2006 made more than $30.9 billion in donations to the charities, including roughly $24.5 billion to the Gates Foundation.

His largest previous annual donation had been $3.17 billion, in 2017.

Buffett still owns roughly one-sixth of Berkshire, the Omaha, Nebraska-based conglomerate he has run since 1965, despite giving away 43 percent of the shares he owned in 2006.

Following the latest donation, Buffett was expected to rank as the world`s fourth-richest person, worth $79.2 billion, according to Forbes magazine.

He would have trailed Amazon.com Inc founder Jeff Bezos` $149.7 billion, Microsoft Corp co-founder Bill Gates` $93.6 billion, and LVMH Moet Hennessy Louis Vuitton Chief Executive Bernard Arnault`s $80 billion.

Facebook Inc co-founder and Chief Executive Mark Zuckerberg ranked fifth, at $78.5 billion.

The five charities typically sell Buffett`s shares to finance their activities, reflecting his desire that money be spent. Buffett makes smaller donations to other charities.

(This article has not been edited by Zeebiz editorial team and is auto-generated from an agency feed.)