Photo: Warren Buffett
By Douglas Maha, with agency reports
Billionaire investor Warren Buffett has donated over $6 billion worth of Berkshire Hathaway shares to the Bill & Melinda Gates Foundation and four other charities run by his family. This is one of the biggest donations he has made since he started giving away his fortune nearly 20 years ago.
Buffett, who is 94 years old, announced that he gave away 13.7 million shares of his company to support causes that are important to him and his family. Most of the donation—about $4.6 billion—went to the Gates Foundation, which focuses on improving healthcare, education, and reducing poverty around the world. The rest went to foundations run by his children and named after his late wife, Susan Buffett.
In total, the Susan Thompson Buffett Foundation received about $460 million. His three children’s charities—the Sherwood Foundation, the Howard G. Buffett Foundation, and the NoVo Foundation—each received around $330 million. These charities work on different issues, such as helping low-income communities, improving food and farming, supporting women’s rights, and promoting education.
Buffett has promised to give away 99.5% of his entire fortune, either during his lifetime or after he passes away. Since 2006, he has donated more than $60 billion to charity. He says he doesn’t believe in passing large amounts of wealth to his children, and instead wants the money to be used to help people.
Although this donation slightly reduces Buffett’s wealth, he remains one of the richest people in the world. He is still the largest shareholder in Berkshire Hathaway and continues to guide the company, although he has started handing over more responsibilities as he prepares for retirement.
Buffett has always believed in giving back. In 2010, he joined Bill and Melinda Gates to launch the Giving Pledge, encouraging other billionaires to donate at least half of their wealth to good causes. Today, over 240 wealthy people around the world have signed the pledge.
With this donation, Warren Buffett continues to show that giving can make a real difference. His actions inspire others to use their money to create a better world, not just for now, but for future generations.
