Buffett donates $6 billion worth of stock to multiple charities

Warren Buffett, a well-known American investor, announced that on June 30, he would donate Berkshire Hathaway stock worth about $6 billion to five charities. This is Buffett's largest annual donation since he began charitable donations in 2006.

On May 4, 2019, in Omaha, Nebraska, Warren Buffett, chairman of the board of directors of Berkshire Hathaway, answered reporters' questions before the opening of the 2019 annual shareholders' meeting. Xinhua News Agency reporter Yang Chenglin photographed

Buffett announced on the 27th that he would donate about 12.36 million shares of Berkshire Hathaway Class B stock to five charities. Among them, the Bill & Melinda Gates Foundation received 9.43 million shares, the Susan Thompson Buffett Foundation named after Buffett's late first wife received more than 940,000 shares, and three charities under the names of Buffett's three children received about 660,000 shares each.

Compared with the company's initial Class A shares, Class B shares are worth less. Reuters reported, citing the closing price on the 27th, that Berkshire Hathaway's Class B shares are worth $485.68 per share.

The Associated Press reported based on the company's report on the number of shares issued that after the latest donation, Buffett still holds 13.8% of Berkshire Hathaway's shares. According to Forbes data, before this donation, Buffett's net worth was $152 billion, ranking fifth on the global rich list, and his ranking dropped to sixth after the donation.

Buffett issued a statement saying that he had no intention of selling Berkshire Hathaway shares. He said it was business as usual at the company; his wealth was made by a focus on long-term investing, simple and generally sound decisions, and riding the wave of U.S. economic growth and its compounding effect. "My will specifies that 99.5% of my assets will go to charity."

Buffett, 94, has donated his assets since 2006. Including the donation announced on June 27, Buffett has donated more than $60 billion to various charities. He changed his will last year to decide that after his death, 99.5% of his assets will be handed over to a charitable foundation overseen by his three children, who will unanimously decide on the use of the assets in about 10 years. Buffett's daughter and two sons are now 71, 70 and 67 years old.