Billionaire investor Warren Buffett on Wednesday donated more than $750 million in Berkshire Hathaway stock to four foundations run by his family, but unlike his annual charitable giving each summer, the Bill & Melinda Gates Foundation was not among the recipients. used to be.
Buffett has made annual donations to the same five charities every year since 2006, when he revealed plans to give away his fortune over time, with the Gates Foundation receiving the largest donation. Wednesday’s donation marks the first time the 92-year-old has made a second large donation in the same year.
A filing with the Securities and Exchange Commission revealed that Buffett bequeathed 1.5 million Class B shares to the Omaha, Nebraska-based group that heads the Susan Thompson Buffett Foundation, named after his first wife. He donated three foundations run by his children: the Sherwood Foundation, the Howard G. He also donated 300,000 Class B shares to the Buffett Foundation and the Novo Foundation.
In June, he donated 11 million Class B shares to the Gates Foundation, 1.1 million Class B shares to the Susan Thompson Buffett Foundation, and 770,218 shares to three of his children’s foundations.
It wasn’t immediately clear what prompted the new donations this week, and Buffett didn’t immediately respond to questions about that on Wednesday. The Gates Foundation and the Buffett Family Foundation also did not immediately respond to questions about who received the gift.
The only other major change Buffett made to his charitable plans over the years was a decade ago when he significantly increased the amount he pledged to a foundation run by his children because of what he did with his money. They were happy.
The Susan Thompson Buffett Foundation keeps a low profile, but over the years has been a strong advocate for abortion rights and has made large donations to Planned Parenthood and other groups. Buffett has not announced any changes to his donation plans since the US Supreme Court overturned Roe v. Wade earlier this year.
Susie Buffett, 69, uses her Sherwood Foundation to strengthen early childhood education and supports several projects around Buffett’s hometown of Omaha, where she also lives. Howard Buffett, 67, helps farmers in poor countries produce more and works to end world hunger with a foundation that bears his name. Peter Buffett, 64, has dedicated his Novo Foundation to empowering women and girls around the world through education, collaboration and economic development to end violence against women.
Even after these latest donations, Buffett still controls more than 31% of Berkshire’s voting power.
Berkshire Hathaway is a conglomerate that owns more than 90 companies, including BNSF Railroad, Geico Insurance, several major utility companies, and an assortment of manufacturing and retail companies, including Precision Castparts, Dairy Queen, and Helzberg Diamonds. In addition to its wholly owned businesses, Berkshire holds major investments from Apple, Bank of America, Coca-Cola, and other companies.
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