Buffett is now fourth richest billionaire on the Forbes list and this is his 10th and largest annual donation, part of his plan to give away most of his wealth

This article is more than 5 years old

This article is more than 5 years old

Warren Buffett has donated about $2.84bn of Berkshire Hathaway Inc stock to the Bill and Melinda Gates Foundation and four family charities, as part of the billionaire’s plan to give away nearly all of his wealth.



The 10th annual donation, Buffett’s largest, comprised 20.64m Class “B” shares of Berkshire and increased Buffett’s total contributions to the charities to more than $21.5bn.

The Gates Foundation, which focuses on improving education and health and reducing poverty, received about 15.76m shares, or 76% of the total donated.

Also receiving donations were the Susan Thompson Buffett Foundation, named for Buffett’s late first wife, and the Howard G Buffett, Sherwood and NoVo Foundations, overseen by his children Howard, Susan and Peter.

Buffett, 84, still owns 18.8% of Berkshire’s stock. Forbes magazine estimated that would give him a net worth exceeding $64bn, ranking fourth worldwide.

Bill Gates, the Microsoft Corp co-founder, ranked first, at $78.7bn, Forbes said after US markets closed. Gates is also a Berkshire director and a close friend and bridge partner of Buffett’s.

Most of Buffett’s holdings are in Class “A” stock, which gives him 32.9% of Berkshire’s voting power.

Buffett typically makes his donations in July, reducing the number of shares by 5% from the prior year. Dollar amounts often rise because of increases in Berkshire’s stock price.

The charities typically sell donated shares to finance their activities, reflecting Buffett’s desire that the money be spent. Buffett also makes smaller donations to other charities.

Buffett has run Berkshire since 1965. The Omaha, Nebraska-based company has more than 80 businesses in such areas as insurance, railroads, energy and chemicals, and as of 31 March had more than $143bn of stock and bond investments.

Berkshire also owns more than 325.4m shares, or nearly 27%, of food and beverage company Kraft Heinz Co, which began trading on Monday. That stake is worth nearly $24bn.