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Warren Buffett donated $759 million of Berkshire Hathaway stock to charities — after donating $4 billion in June

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  • Warren Buffett donated a whopping $759 million in stock on Wednesday.
  • The investor distributed a total of 2.4 million B shares among four foundations in his family.
  • Buffett has given away 52% of his Berkshire Hathaway stock since 2006, but still owns 15.5%.

Warren Buffett should be thankful this Thanksgiving as he unexpectedly donated $759 million to charities on Wednesday.

The famed investor and CEO of Berkshire Hathaway converted 1,600 Class A shares in his company into 2.4 million Class B shares and then donated them all to four of his family’s foundations, SEC filings show.

Buffett donated 1.5 million shares, worth $474 million, to the Susan Thompson Buffett Foundation in his late wife’s name.

He founded three of his children’s foundations: The Sherwood Foundation, Howard G. He also donated 300,000 shares worth $94 million each to the Buffett Foundation and the Novo Foundation.

The billionaire’s latest gift came as a surprise, as he had already made his usual annual donation in June. Specifically, he divided 14.4 million “B” shares worth $4 billion between the Bill & Melinda Gates Foundation and the same four family foundations.

Buffett’s latest donation reduced his stock of “A” shares to 227,416. He has now given away 247,582 “A” shares, or about 52% of his Berkshire holding since 2006, which is 99% of his personal wealth. Yet he still owns 15.5% of his company and owns more than 31% of the voting rights.

The 92-year-old investor, who has pledged to give away all his money to charities, is more than half present. All things being equal, if he had held on to his 475,000 shares and donated none of them, Buffett would be the richest man in the world with a net worth of more than $227 billion — Tesla CEO Elon Musk well ahead of K’s $180 billion net worth .

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The Buffett family foundation focuses on a range of causes, from food security and nuclear disarmament to social and reproductive justice.

For example, Howard Buffett met Ukrainian President Volodymyr Zelensky this summer in Kiev and offered his support after Russia invaded. His foundation donated nearly $3 million to provide passenger buses to Ukrainian troops and civilian trauma kits.

Read more: David Rubenstein sees Warren Buffett as the ultimate investor. The private equity billionaire reveals the 12 traits and habits that were key to Buffett’s success.

Source: markets.businessinsider.com

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