The billionaire investor Warren Buffett distributed 6,000 million dollars in Berkshire Hathaway shares to five beneficial organizations on Saturday, marking its largest annual donation in almost 20 years and detaching from a part of its estimated net assets of 152,000 million dollars.
Key data
Buffett donated around 12.36 million Berkshire class B actions, which is his largest annual donation since he began to donate parts of his fortune in 2006.
Most of the shares were donated to Bill & Melinda Gates Foundation Trust, and the remaining 2.92 million shares were allocated to the Sherwood Foundation, the Howard G. Buffett Foundation, the Novo Foundation and the Susan Thompson Buffet Foundation Foundation.
Donations will be delivered on Monday, which will raise Buffett’s property in Berkshire to 198,117 shares A and 1,144 Bies B.
Buffett converts class A class A actions when it makes donations.
A single Berkshire class A action is worth almost 731,000, while a class B action is worth 485.68.
Cita Crucial
“The calculation of the life commitments with the five foundations is interesting,” Buffett said. “The annual subsidies calendar was established on June 26, 2006 and, since then, it has been complemented with important subsidies to four of the five beneficiaries. When it was originally established, it owned 474,998 shares A de Berkshire, with an approximate value of 43,000 million dollars, and those shares represented more than 98 % of my net assets.”
Surprising data
About 99.5% of Buffett’s heritage is “intended for philanthropic use,” according to Buffett, who said he has not bought or sold any class A or class B action in the last 19 years.
Key history
Buffett, 94, announced last month that he will leave the position of executive director of Berkshire Hathaway in the late 2025. The investment tycoon has appointed Greg Abel, executive director of Berkshire Hathaway Energy, as his substitute. Buffett is the fifth richest person in the world, behind Jeff Bezos, Mark Zuckerberg, Larry Ellison and Elon Musk. In 2010, Buffett promised to donate his fortune in life or before his death, along with Bill Gates and Melinda French Gates. Bill & Melinda Gates Foundation Trust has received billions of dollars from buffett and focuses on the fight against poverty, global development, education and other issues.
This article was originally published by Forbes Us.
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