Multi-Billionaire Warren Buffett has recently donated shares of Berkshire Hathaway Inc. that amassed to a hefty sum of $2.8 Billion. While people like to think the rich don’t like to use their success to help others, Billionaire moguls such as Buffett and Gates have proven otherwise through their Humanitarian/Philanthropic donations. Check out the excerpt via Reuters below.
[ Reuters excerpt via Jonathan Stempel ]
–“Buffett donated about 21.73 million Class “B” shares of Berkshire on Monday, a regulatory filing shows.
About 16.6 million shares, worth more than $2.1 billion, went to the Bill and Melinda Gates Foundation, which focuses on education, health and poverty problems.
The remainder went to four family charities, including a foundation named for his late first wife Susan and foundations for his children Howard, Peter and Susan.
The $2.8 billion is the most Buffett has donated to these charities, reflecting Berkshire’s near-record share price, since he began making annual gifts in 2006.
Buffett still controls nearly 20 percent of Berkshire’s stock, which made him worth $65.8 billion on Monday, according to Forbes magazine.
Only Mexico telecommunications mogul Carlos Slim and Bill Gates, the Microsoft Corp co-founder and Berkshire director, were worth more, Forbes said.
Berkshire has more than 80 operating businesses and ended March with more than $146 billion of stock and bond investments. Buffett has run the Omaha, Nebraska-based company since 1965.”–
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