Warren Buffett Donates 13.69 million Shares of Berkshire Hathaway to Five Foundations

New Delhi, 22nd June 2023: Warren E. Buffett has made a benevolent donation of 13.69 million shares of Berkshire Hathaway stock to five nonprofits, with the Bill and Melinda Gates Foundation receiving the largest donation of more than 10 million shares worth $3.6 billion.

According to a business release, the Berkshire Hathaway chairman donated 10,453,008 shares to the Bill & Melinda Gates Foundation Trust, 1,045,300 shares to the Susan Thompson Buffett Foundation, and 731,708 shares to the Sherwood Foundation, Howard G. Buffett Foundation, and NoVo Foundation.

Buffett’s three children control the remaining four foundations. The contributions are part of Buffett’s annual giving plan, which began in 2006.

The annual donation schedule was established on June 26, 2006, and has subsequently been reinforced by major grants to four of the five winners, according to Buffett.

Buffet said, “When originally made, I owned 474,998 Berkshire A shares worth about $43 billion and those shares represented more than 98% of my net worth. I have converted A shares into B shares before making contributions. During the following 17 years, I have neither bought nor sold any A or B shares nor do I intend to do so.”

He further added, “ The five foundations have received Berkshire B shares that had a value when received of about $50 billion, substantially more than my entire net worth in 2006. I have no debts and my remaining A shares are worth about $112 billion, well over 99% of my net worth.”

In order to gift 13,693,432 shares of Berkshire Hathaway “B” stock, Warren E. Buffett transformed 9,129 A shares into 13,693,500 B shares.

Buffett now owns 218,287 A shares and 344 B shares in Berkshire Hathaway.