The donation announced on Friday was run by the transfer of about 12.36 million class B shares of Berkshire Hathaway, which continued the long -lasting tradition that began almost two decades ago.
A large part of the shares of over 9.4 million were directed to the Gates Foundation. Additional allocation includes the Susan Th OM MPson Buffett Foundation about 943,000 shares and 660,000 shares in three organizations operated by its children: Howard G. Buffet Foundation, Sherwood Foundation and Novo Foundation. This latest round will increase the total charitable contribution of Buffett over the years of Buffett over 60 billion.
Even after this major transfer, Buffett retains about 13.8% of ownership in Berkshire Hathaway, as reported in public. Prior to donation, its net cost was about $ 152 billion, and finished fifth in Forbes’s global billionaire rankings.
Buffet rankings are expected to decline slightly, with a donation of over $ 5.3 billion in June 2023.
Living events
In a public note with donations, Buffett repeated that he had no intention of selling any Berkshire shares.
The 94 -year -old investor and philanthropist began to provide its wealth in 2006 and changed its estate plans last year, and allocated 99.5% of the remaining assets to the Charitable Trust for being monitored by their children.
Its three children – Susie, Howard and Peter Buffett – will jointly govern the distribution of trust’s property, with the decision to unanimously decide. Currently, Susie Buffett is 71, Howard Buffet is 70, and Peter Buffet is 67.
The foundation of Buffett donations focuses on each different social reasons. The Susan Th Mpson Buffett Foundation, which is in the name of his late first wife, supports the initiative of reproductive health. Howard G The Buffett Foundation works on global hunger, struggles and anti -traffic programs.
The Sherwood Foundation emphasizes the early childhood education and nonprofit work in Nebraska, while the Novo Foundation focuses on the erection of girls, women and indigenous communities.
Buffett has earlier stated that donations to the Gates Foundation will be closed at his death. Meanwhile, Berkshire Hathaway, which is worth $ 1.05 trillion – to run a large portfolio of companies and public equity holdings, including Apple Pal, American Express, Geico and BNSF Railway.
Also Read: 1 lakh crore Salof Tsunami threatens Nifty rally as promoters, strategic investors exit
(Connection: The recommendations, suggestions, opinions and opinions provided by experts have their own. This does not represent opinions of economic time)
(Now you can subscribe to our Etmarkets WhatsApp channel)
