Warren Buffett, the third wealthiest man in the World, has donated about $2.84 billion 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. This is Buffett’s 10th annual donation and the largest, taking his 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 15.76 million shares, or 76% of the total donated. Other receivers are Susan Thompson Buffett Foundation, Howard G. Buffett, Sherwood and NoVo Foundations.
The billionaire usually makes his donations in July, cutting his number of shares in his company by 5% every year. Buffett has run Berkshire since 1965. The company has more than 80 businesses involved in a variety of sectors and as of end 31 March, had more than $143bn of stock and bond investments.
Things You Should Know About Warren Buffett
- Warren Edward Buffett, the Wizard of Omaha, is an American business magnate, investor and philanthropist.
- He is the most successful investor of the 20th century.
- At young age Buffett sold chewing gum, Coca-Cola bottles, or weekly magazines door to door.
- In 1988, Buffett began buying Coca-Cola Company stock, eventually purchasing up to 7% of the company for $1.02 billion.
- In 2008 he was ranked by Forbes as the richest person in the world with an estimated net worth of approximately US$62 billion.
- On December 9, 2010, Buffett, Bill Gates, and Facebook CEO Mark Zuckerberg, signed a promise they called the “Gates-Buffett Giving Pledge”, in which they promised to donate to charity at least half of their wealth over time.
Famous Quotes of Warren Buffett
- Honesty Is a Very Expensive Gift. Do not Expect it From Cheap People.
- Someone is Sitting in the Shade today because someone planted a tree long time ago.
- Without Passion You Don’t Have Energy. Without Energy You Have Nothing.
